This paper is a contribution to the literature on possible pro-cyclical effects of capital rules under Basil 2 capital regulations. The addition of both idiosyncratic uncertainty and risk averse managers to a cash-in-advance model with financial intermediaries that finance working capital...

We use a variation on the business cycle accounting method of Chari, Kehoe and McGrattan to study the business cycle in Argentina from 1972 to 2006. We use capital utilization as a household decision variable to be able to better extract the wedge that functions as a tax on capital. Applying the...

Similar to other Central Banks, the BCRA publishes monthly a REM that summaries the forecasts and projections of a group of economic analysts and consultants who volunteer to participate in the program. The BCRA publishes only the median, and the standard deviation of the sample received. The...