Showing 1 - 10 of 139
Investment ratings (e.g., by Morningstar) provide a simple ordinal scale (e.g., 1 to 5) for comparing investments. Typically, ratings are assigned within categories -- groups of assets sharing common characteristics -- but using the same ordinal scale for all groups. Comparing such categorized...
Persistent link: https://www.econbiz.de/10012480699
How accurate is a log-linear approximation of the New Keynesian model when the nominal interest rate is bounded by zero? This paper compares the solution of the exact non-linear model to the log-linear approximation. It finds that the difference is modest. This applies even for extreme events in...
Persistent link: https://www.econbiz.de/10012455896
In applied econometric work, analysts are concerned often with estimation of and inferences about interaction effects, e.g. 'Does the magnitude of the effect of z1 on y depend on z2? ' This paper develops tests for and proper interpretation of various forms of interaction effects in one...
Persistent link: https://www.econbiz.de/10012471373
This paper investigates the impact of a progressive tax reform on tax compliance. We leverage a major progressive tax reform in a large Argentine municipality. First, we use a quasi-experimental design to estimate the causal effect of changes in a household's own tax rates on its tax compliance....
Persistent link: https://www.econbiz.de/10015171689
This paper provides an overview of the major economic events in Argentina from the adoption of the convertibility plan … currency board and capital flows, and the inescapable link between fiscal and monetary policy. Argentina inadvertently entered … late 1990s, when Argentina went into recession, it required some sort of stimulus -- either a loosening of monetary policy …
Persistent link: https://www.econbiz.de/10012467330
statement, we compare the polar cases of Chile and Argentina. While Chile exhibited a significant economic slowdown after August … 1998, it did not suffer the excruciating collapse suffered by Argentina, where even the payments system came to a full stop …. We attribute their difference to the fact that Chile is more open to trade than Argentina, and that it appears to suffer …
Persistent link: https://www.econbiz.de/10012467532
large devaluation episodes: Argentina (2001), Brazil (1999), Korea (1997), Mexico (1994), and Thailand (1997). We conduct a … detailed analysis of the Argentina case using disaggregated CPI data, data from our own survey of prices in Buenos Aires, and …
Persistent link: https://www.econbiz.de/10012467701
We offer an alternative explanation for the fall of Argentina's Convertibility Program based on the country … prices is larger the more closed an economy is in terms of its supply of tradable goods. By contrasting Argentina … of 1998, we identify key vulnerability indicators that separated Argentina from its piers. We also provide an explanation …
Persistent link: https://www.econbiz.de/10012468870
Argentina's economic crisis has strong similarities with previous crises stretching back to the nineteenth century. A …
Persistent link: https://www.econbiz.de/10012469246