Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/63277
Authors: 
Fields, Gary S.
Sánchez Puerta, María Laura
Year of Publication: 
2008
Series/Report no.: 
Research Paper, UNU-WIDER, United Nations University (UNU) 2008/06
Abstract: 
In recent years, the economy of Argentina has experienced both rapid economic growth and severe economic decline. In this paper, we use a series of one-year long panels to study who gained the most in pesos when the economy grew and who lost the most in pesos when the economy contracted. To answer these questions, we test two hypotheses both unconditionally and conditionally. The ‘divergence of earnings’ hypothesis holds that in any given year, the highest earning individuals are those who experienced the largest earnings gains or the smallest earnings losses in pesos. The ‘symmetry of gains and losses’ hypothesis holds that those groups that gained the most in pesos when the economy grew are those that lost the most in pesos when the economy contracted. Both hypotheses are decisively rejected in the data. – finance ; growth ; inequality ; Argentina ; survey ; gains ; losses
JEL: 
O16
D14
I31
D63
Document Type: 
Working Paper

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