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| Format: | Artículo científico |
| Language: | en |
| Published: |
Universidad Nacional de Colombia
2020
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| Online Access: | https://www.redalyc.org/articulo.oa?id=282169934007 https://www.redalyc.org/journal/2821/282169934007/ https://www.redalyc.org/journal/2821/282169934007/html/ https://www.redalyc.org/journal/2821/282169934007/282169934007.epub https://www.redalyc.org/journal/2821/282169934007/movil |
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Table of Contents:
- BEYOND GOODWIN: FINANCIALIZATION AS A STRUCTURAL CHANGE TO EXPLAIN THE NEW ARGENTINIAN CRISIS Pablo Ignacio Chena Demian Tupac Panigo Germán Zorba Economía y Finanzas crisis Argentina business cycle financialization balance of payments constraints This paper aims to explain the causes of the 2018/2019 Argentinian crisis by means of a growth cycle model a la Goodwin, where the aggregate demand is wage-led, the wage-share is predatory of the external sector, and the financial norm stands as an exogenous apex-predator of both real wages and the current account. Its main results allow us to understand the stylized facts of the Argentinian economy: a higher financial norm increases inequality and required current account surpluses, reduces stability, and increases volatility and recessions length.JEL: C61; E32; E37; F41. 2020 artículo científico 0121-4772 https://www.redalyc.org/articulo.oa?id=282169934007 https://www.redalyc.org/journal/2821/282169934007/ https://www.redalyc.org/journal/2821/282169934007/html/ https://www.redalyc.org/journal/2821/282169934007/282169934007.epub https://www.redalyc.org/journal/2821/282169934007/movil 10.15446/cuad.econ.v39n80.84163 en http://www.redalyc.org/revista.oa?id=2821 Cuadernos de Economía application/pdf Universidad Nacional de Colombia Cuadernos de Economía (Colombia) Num.80 Vol.XXXIX