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dc.contributor.author
Montes Rojas, Gabriel Victorio
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dc.contributor.author
Toledo, Fernando
dc.date.available
2023-07-19T12:59:37Z
dc.date.issued
2022-08
dc.identifier.citation
Montes Rojas, Gabriel Victorio; Toledo, Fernando; External Shocks and Inflationary Pressures in Argentina: A Post-Keynesian-Structuralist Empirical Approach; Routledge Journals, Taylor & Francis Ltd; Review Of Political Economy; 34; 4; 8-2022; 789-806
dc.identifier.issn
0953-8259
dc.identifier.uri
http://hdl.handle.net/11336/204423
dc.description.abstract
We examine two external shocks that trigger inflationary pressures in Argentina. The first corresponds to a shock in international prices of agricultural commodities exported by this country. The second external shock affects the nominal exchange rate ($/U$S). Through the estimation of a quarterly VAR with directional quantiles model for the 2004–2019 period, we show how the pass-through from these external shocks to the inflation rate operates asymmetrically and mainly through increments in nominal wages. We estimate that an external shock in the international agricultural commodities prices exported by Argentina engenders a pass-through of 10 per cent, vis-à-vis a shock in the nominal exchange rate with a pass-through of 25 per cent. We explain these results highlighting the relevance of the class struggle as a key inflationary transmission mechanism, in line with Post-Keynesian-Structuralist conflicting claims models of inflation. These empirical results pose significant challenges for economic policy design, particularly pondering the adoption of measures that aim to decouple the potentially disruptive effects of these external shocks on inflationary pressures in Argentina.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Routledge Journals, Taylor & Francis Ltd
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dc.rights
info:eu-repo/semantics/restrictedAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
ARGENTINA
dc.subject
CONFLICTING CLAIMS MODELS OF INFLATION
dc.subject
EXTERNAL SHOCKS
dc.subject
INTERNATIONAL AGRICULTURE COMMODITIES PRICES
dc.subject
NOMINAL EXCHANGE RATE
dc.subject
VAR MODELS
dc.subject
WAGES
dc.subject.classification
Economía, Econometría
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dc.subject.classification
Economía y Negocios
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dc.subject.classification
CIENCIAS SOCIALES
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dc.title
External Shocks and Inflationary Pressures in Argentina: A Post-Keynesian-Structuralist Empirical Approach
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2023-07-07T23:00:48Z
dc.journal.volume
34
dc.journal.number
4
dc.journal.pagination
789-806
dc.journal.pais
Reino Unido
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dc.journal.ciudad
Londres
dc.description.fil
Fil: Montes Rojas, Gabriel Victorio. Universidad de Buenos Aires. Facultad de Ciencias Económicas. Departamento de Economía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Oficina de Coordinación Administrativa Saavedra 15. Instituto Interdisciplinario de Economía Política de Buenos Aires. Universidad de Buenos Aires. Facultad de Ciencias Económicas. Instituto Interdisciplinario de Economía Política de Buenos Aires; Argentina
dc.description.fil
Fil: Toledo, Fernando. Universidad Nacional de La Plata; Argentina
dc.journal.title
Review Of Political Economy
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dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1080/09538259.2021.1993001
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://www.tandfonline.com/doi/full/10.1080/09538259.2021.1993001
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