Terms of trade and potential output in Argentina

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This paper uses an equilibrium correction model to estimate Argentina´s potential output in the 1913-2011 period. The long-term equilibrium is represented by an aggregate Cobb-Douglas production function with three factors: capital, labor and land. Capital and labor inputs have been adjusted by qual...

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Autor principal: Gay, Alejandro
Formato: article
Lenguaje:Inglés
Publicado: 2020
Materias:
Production function
Potential output
Terms of trade
Cointegration
Argentina
Acceso en línea:http://hdl.handle.net/11086/16750
Aporte de:
Repositorio Digital Universitario (UNC) de Universidad Nacional de Córdoba
id I10-R14111086-16750
record_format dspace
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-141
collection Repositorio Digital Universitario (UNC)
language Inglés
topic Production function
Potential output
Terms of trade
Cointegration
Argentina
spellingShingle Production function
Potential output
Terms of trade
Cointegration
Argentina
Gay, Alejandro
Terms of trade and potential output in Argentina
topic_facet Production function
Potential output
Terms of trade
Cointegration
Argentina
description This paper uses an equilibrium correction model to estimate Argentina´s potential output in the 1913-2011 period. The long-term equilibrium is represented by an aggregate Cobb-Douglas production function with three factors: capital, labor and land. Capital and labor inputs have been adjusted by quality; and the terms of trade have been exogenously introduced, as we assume they affect the quality of land. The estimated shares of capital, labor and land are 0.44, 0.46 and 0.10 respectively, and test do no reject the proposed hypothesis that the terms of trade coefficient equals the share of land. The output gap after Convertibility is analyzed and forecasts have been made about potential output growth.
format article
author Gay, Alejandro
author_facet Gay, Alejandro
author_sort Gay, Alejandro
title Terms of trade and potential output in Argentina
title_short Terms of trade and potential output in Argentina
title_full Terms of trade and potential output in Argentina
title_fullStr Terms of trade and potential output in Argentina
title_full_unstemmed Terms of trade and potential output in Argentina
title_sort terms of trade and potential output in argentina
publishDate 2020
url http://hdl.handle.net/11086/16750
work_keys_str_mv AT gayalejandro termsoftradeandpotentialoutputinargentina
bdutipo_str Repositorios
_version_ 1764820393490644995

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