Structural Real Exchange Rate and Unemployment Interdependencies in Argentina
Based on a three-sector micro-founded model of a small open economy, this paper investigates the interdependences between the structural real exchange rate (defined as the relative prices tradable to non-tradable goods prices) and the unemployment rate with an application to Argentina. The empirical...
| Main Authors: | , |
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| Format: | Online |
| Language: | eng |
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Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
2014
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| Online Access: | https://revistas.unc.edu.ar/index.php/REyE/article/view/14936 |
| _version_ | 1811172130173222912 |
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| author | Pentecost, Eric J. Zarzosa Valdivia, Fernando |
| author_facet | Pentecost, Eric J. Zarzosa Valdivia, Fernando |
| author_sort | Pentecost, Eric J. |
| collection | Portal de Revistas |
| description | Based on a three-sector micro-founded model of a small open economy, this paper investigates the interdependences between the structural real exchange rate (defined as the relative prices tradable to non-tradable goods prices) and the unemployment rate with an application to Argentina. The empirical results suggest a significant, negative relationship between the structural real exchange rate and the rate of unemployment, suggesting that an appreciating real exchange rate may lead to Dutch disease effects – which effectively contract the size of the manufacturing sector – and damage long-term growth and employment opportunities. |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-14936 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2014 |
| publisher | Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-149362022-04-06T21:39:05Z Structural Real Exchange Rate and Unemployment Interdependencies in Argentina Tipo de cambio real estructural y las interdependencias con el desempleo en Argentina Pentecost, Eric J. Zarzosa Valdivia, Fernando tipo de cambio real tasa de desempleo productividad stock de capital términos de intercambio C32 E24 F11 F31 F37 F41 J64 structural real exchange rate unemployment rate factor productivity capital endowments terms of trade C32 E24 F11 F31 F37 F41 J64 Based on a three-sector micro-founded model of a small open economy, this paper investigates the interdependences between the structural real exchange rate (defined as the relative prices tradable to non-tradable goods prices) and the unemployment rate with an application to Argentina. The empirical results suggest a significant, negative relationship between the structural real exchange rate and the rate of unemployment, suggesting that an appreciating real exchange rate may lead to Dutch disease effects – which effectively contract the size of the manufacturing sector – and damage long-term growth and employment opportunities. Utilizando un modelo micro-fundamentado de tres sectores para una pequeña economía abierta, se analiza la interdependencia entre la tasa de cambio real estructural (definida como el cociente entre el precio de los bienes transables y el de los no transables) y la tasa de desempleo, aplicándolo al caso de Argentina. Los resultados empíricos sugieren una relación negativa y significativa entre el tipo de cambio real estructural y la tasa de desempleo, lo cual indicaría que frente a una apreciación del tipo de cambio real se puede producir un efecto del tipo enfermedad holandesa - contrayendo el sector productor de manufacturas - afectando negativamente las oportunidades de crecimiento y empleo en el largo plazo. Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2014-12-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unc.edu.ar/index.php/REyE/article/view/14936 10.55444/2451.7321.2014.v52.n1.14936 Revista de Economía y Estadística; Vol. 52 No. 1 (2014); 57-86 Revista de Economía y Estadística; Vol. 52 Núm. 1 (2014); 57-86 2451-7321 0034-8066 10.55444/2451.7321.2014.v52.n1 eng https://revistas.unc.edu.ar/index.php/REyE/article/view/14936/14897 Derechos de autor 2014 Eric J. Pentecost, Fernando Zarzosa Valdivia http://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | tipo de cambio real tasa de desempleo productividad stock de capital términos de intercambio C32 E24 F11 F31 F37 F41 J64 structural real exchange rate unemployment rate factor productivity capital endowments terms of trade C32 E24 F11 F31 F37 F41 J64 Pentecost, Eric J. Zarzosa Valdivia, Fernando Structural Real Exchange Rate and Unemployment Interdependencies in Argentina |
| title | Structural Real Exchange Rate and Unemployment Interdependencies in Argentina |
| title_alt | Tipo de cambio real estructural y las interdependencias con el desempleo en Argentina |
| title_full | Structural Real Exchange Rate and Unemployment Interdependencies in Argentina |
| title_fullStr | Structural Real Exchange Rate and Unemployment Interdependencies in Argentina |
| title_full_unstemmed | Structural Real Exchange Rate and Unemployment Interdependencies in Argentina |
| title_short | Structural Real Exchange Rate and Unemployment Interdependencies in Argentina |
| title_sort | structural real exchange rate and unemployment interdependencies in argentina |
| topic | tipo de cambio real tasa de desempleo productividad stock de capital términos de intercambio C32 E24 F11 F31 F37 F41 J64 structural real exchange rate unemployment rate factor productivity capital endowments terms of trade C32 E24 F11 F31 F37 F41 J64 |
| topic_facet | tipo de cambio real tasa de desempleo productividad stock de capital términos de intercambio C32 E24 F11 F31 F37 F41 J64 structural real exchange rate unemployment rate factor productivity capital endowments terms of trade C32 E24 F11 F31 F37 F41 J64 |
| url | https://revistas.unc.edu.ar/index.php/REyE/article/view/14936 |
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