Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund.
IMF Institute.
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| ISBN: | 9781451991307
1451991304
146233055X
9781462330553
1451872143
9781451872149
9786612842887
6612842881
1282842889
9781282842885
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| Digital file characteristics: | data file
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| Notes: | At head of title: IMF Institute.
"March 2009."
Includes bibliographical references (pages 33-36).
English.
Print version record.
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| Summary: | This paper evaluates what type of models can account for the recent episodes of output drops in Latin America. I develop an open economy version of the business cycle accounting methodology (Chari, Kehoe, and McGrattan, 2007) in which output fluctuations are decomposed into four sources: total factor productivity (TFP), a labor wedge, a capital wedge, and a bond wedge. The paper shows that the most promising models are the ones that induce fluctuations of TFP and the labor wedge. On the other hand, models of fnancial frictions that translate into a bond or capital wedge are not successful in e.
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| Other form: | Print version: Lama, Ruy, 1975- Accounting for output drops in Latin America. [Washington, D.C.] : International Monetary Fund, ©2009
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