Accounting for Output Drops in Latin America

Accounting for Output Drops in Latin America
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... READ MORE...

Publication date: March 2009
ISBN 9781451872149
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