On December 12, 2019, Fed in Print will introduce its new platform for discovering content. Please direct your questions to Anna Oates

Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of Minneapolis
Staff Report
The Monetary and Fiscal History of Argentina, 1960-2017
Francisco J. Buera
Juan Pablo Nicolini
Abstract

In this chapter, we review the monetary and fiscal history of Argentina for the period 1960–2017, a time during which the country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises. All told, between 1969 and 1991, after several monetary reforms, thirteen zeros had been removed from its currency. We argue that all these events are the symptom of a recurrent problem: Argentina’s unsuccessful attempts to tame the fiscal deficit. An implication of our analysis is that the future economic evolution of Argentina depends greatly on its ability to develop institutions that guarantee that the government does not spend more than its genuine tax revenues over reasonable periods of time.


Download Full text
Cite this item
Francisco J. Buera & Juan Pablo Nicolini, The Monetary and Fiscal History of Argentina, 1960-2017, Federal Reserve Bank of Minneapolis, Staff Report 580, 01 Feb 2019.
More from this series
JEL Classification:
Subject headings:
Keywords: Inflation; Deficits; Fiscal and monetary interactions; Government budget constraint; Macroeconomic history
DOI: 10.21034/sr.580
For corrections, contact Jannelle Ruswick ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal