Argentina's lost decade

Kydland, Finn E.; Zarazaga, Carlos E.

Working Paper

Argentina's lost decade

Abstract: Argentina suffered a depression in the 1980s that was as severe as the Great Depression experienced in the United States and Germany in the interwar period. Our paper examines this depression from the perspective of growth theory, taking total factor productivity as exogenous. The predictions of the growth model conform rather well with the observations during the ?lost decade? years.

Keywords: Argentina; depression; growth models;

JEL Classification: E32;