IIEP 24411
INSTITUTO INTERDISCIPLINARIO DE ECONOMIA POLITICA DE BUENOS AIRES
Unidad Ejecutora - UE
artículos
Título:
Commodities prices and critical parameters for macroeconomic performance: results of CGE simulations for Argentina, Brazil and Chile.
Autor/es:
MASTRONARDI LEONARDO; CHISARI OMAR O.; ROMERO CARLOS
Revista:
Estudios Económicos
Editorial:
Universidad Nacional del Sur
Referencias:
Lugar: Bahía Blanca; Año: 2019
ISSN:
0425-368X
Resumen:
In this paper we study the behavior of three Latin American economies, Argentina, Chile and Brazil, following a reduction of prices of exports and imports of commodities. We construct three CGE models and consider two basic scenarios: nominal and real downward inflexibility of wages. We find that the performance of the economies depend on some structural parameters: the share of exports in GDP, the share of exports of commodities in exports, the import-intensity of manufactures and the share of labor in GDP, and that the size of the shock can be amplified by nominal rigidities of wages and low mobility of capital between production sectors.
