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Choques macroeconómicos y los precios de los activos. El caso argentino

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  • Luis N Lanteri

    (UNR, 2000 Rosario, Argentina)

Abstract

Este trabajo analiza los efectos de los choques externos y domésticos sobre los precios de las propiedades urbanas y del mercado accionario, en la economía Argentina. Se emplean modelos de SVAR, con restricciones de corto plazo, y datos trimestrales para el período 1993–2012. Los resultados muestran que las mejoras en los términos del intercambio y el crecimiento de la economía tendrían un efecto estimulante en los precios de los activos. Se destaca también el papel de otros choques macroeconómicos (deflactor del PIB, tasas de interés y tipo de cambio real), para explicar la variabilidad de estos precios. A diferencia de las economías avanzadas, como la de los Estados Unidos, donde los precios de algunos activos acompañan la expansión del crédito, en Argentina estos precios están relacionados más bien con las mejoras en los términos del intercambio y el crecimiento.

Suggested Citation

  • Luis N Lanteri, 2013. "Choques macroeconómicos y los precios de los activos. El caso argentino," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 25(5), pages 830-841, December.
    • Handle: RePEc:pal:eurjdr:v:25:y:2013:i:5:p:830-841
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