Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/84455
Authors: 
Ávila, Jorge C.
Year of Publication: 
2011
Series/Report no.: 
Serie Documentos de Trabajo, Universidad del CEMA: Área: economía 471
Abstract: 
In this paper we do a couple of things: discussing a way to measure the welfare cost of country risk, and measuring it for Argentina in the period 1875-2006. There are two conclusions: a) the welfare cost of Argentine risk has been huge: for example, in the period 1976-2006 it was around 20% of GDP, several times larger than the welfare cost of any conventional distortion; b) this cost would be wholly paid by labor. These fascinating results deserve further investigation.
Subjects: 
country risk
welfare cost
growth
Argentina
JEL: 
D63
D82
O12
O16
Document Type: 
Working Paper

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