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El Multiplicador Monetario En El Ciclo Económico De La Argentina

Author

Listed:
  • Danilo Rogelio Trupkin

    (Facultad de Ciencias Económicas - Universidad de Buenos Aires y Ministerio de Trabajo, Empleo y Seguridad Social.)

  • María Cecilia Gómez

    (Universidad de Buenos Aires.)

  • Carlos Marcelo Belloni

    (Universidad de Buenos Aires.)

  • Matias Nicolás Ustares

    (Universidad de Buenos Aires.)

Abstract

The procyclical character of monetary aggregates is a fact that has been explained by the presence of the endogenous monetary multiplier. From this perspective, the part of the aggregates that corresponds to the bank deposits is the one that correlates positively with the level of activity. In this paper we analyze the stylized facts that enable the presence of the endogenous multiplier using a dynamic and stochastic general equilibrium model (DSGE), calibrated for the Argentine economy. According to the results, this multiplier presents special characteristics in a wide volatility economy as Argentina's.

Suggested Citation

  • Danilo Rogelio Trupkin & María Cecilia Gómez & Carlos Marcelo Belloni & Matias Nicolás Ustares, 2017. "El Multiplicador Monetario En El Ciclo Económico De La Argentina," Revista de Economía Política de Buenos Aires, Universidad de Buenos Aires. Facultad de Ciencias Económicas., issue 16, pages 127-157, December.
    • Handle: RePEc:ake:repba1:y:2017:i:16:p:127-157
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    More about this item

    Keywords

    monetary multiplier; endogenous money; DSGE; Argentina;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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