The presence of seasonal fluctuations (regular behavior along the year related to weather or institutional factors) invalidates monthly (quarterly) comparisons. In turn, since inter-annual variations depend on the comparison basis being used, they could provide very little information to the...

This paper aims at producing forecasts of monetary aggregates which are useful in formulating monetary policy in Argentina; in particular, forecasts that allow evaluation of alternative economic scenarios, with a 5-quarter horizon and of both public and private monetary aggregates. With that aim,...

This paper analyzes the evolution and differential scope of restrictions to financing for the companies surveyed by the Large Companies Survey (ENGE) of the National Institute of Statistics and Census (INDEC) during the period 1995-2003. The main purpose of this study is to differentiate results...

The aim of this document is to quantify the effects of uncertainty over financial assets dollarization of the Argentine non financial private sector. Our main concern is to illustrate to what extent uncertainty affects the degree of substitution between assets denominated in local and foreign...

We use a variation on the business cycle accounting method of Chari, Kehoe and McGrattan (CKM) to study the business cycle in Argentina from 1972 to 2006. The method uses real data together with the equilibrium conditions of a prototype growth model to measure four wedges that are explained by...

The use of banking services in Argentina is relatively low, both in terms of historical standards and in comparison with similarly developed countries. This low bankarization level involves not only use but also availability of banking infrastructure and access to that services. However during...

In order to comply with their main objective of price stability, monetary authorities rely on analytic tools to properly assess tendencies and inflationary pressures in the economy. Therefore Central Banks are interested in analyzing and monitoring changes in cyclical fluctuations of economic...

We exploit the richness of a large data set of daily and monthly business cycle indicators by pooling them to produce Nowcast of contemporaneous real GDP growth. We conduct predictions based on a pooling of bivariate forecasts which uses these indicators as predictors of GDP (Nowcast with...