Regional and state heterogeneity of monetary shocks in Argentina

Autores
Blanco, Emilio; Elosegui, Pedro Luis; Izaguirre, Alejandro; Montes Rojas, Gabriel Victorio
Año de publicación
2019
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
This paper empirically investigates how economic activity in Argentina at regional and provincial (i.e., state) levels responds to central national monetary policy shocks, as given by a change in the interest rate. Regional heterogeneity of monetary shocks exists in Argentina. At the regional level the long-term effects of increasing the interest rate are negative and statistically significant. At the provincial level, 11 provinces show a negative and significant impact of a shock on the interest rate over employment. However, there are 13 provinces in which the effect is not statistically significant, including the City of Buenos Aires and Buenos Aires Province. Bayesian methods are implemented to study the discrepancies in the impact on different provinces.
Fil: Blanco, Emilio. Banco Central de la República Argentina; Argentina
Fil: Elosegui, Pedro Luis. Banco Central de la República Argentina; Argentina. Universidad Nacional de La Plata; Argentina. University of Illinois. Urbana - Champaign; Estados Unidos
Fil: Izaguirre, Alejandro. Universidad de San Andrés; Argentina
Fil: Montes Rojas, Gabriel Victorio. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
Materia
MONETARY POLICY
MONETARY TRANSMISSION
REGIONAL EFFECTS
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/135864
Acceder
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oai_identifier_str oai:ri.conicet.gov.ar:11336/135864
network_acronym_str CONICETDig
repository_id_str 3498
network_name_str CONICET Digital (CONICET)
spelling Regional and state heterogeneity of monetary shocks in ArgentinaBlanco, EmilioElosegui, Pedro LuisIzaguirre, AlejandroMontes Rojas, Gabriel VictorioMONETARY POLICYMONETARY TRANSMISSIONREGIONAL EFFECTShttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5This paper empirically investigates how economic activity in Argentina at regional and provincial (i.e., state) levels responds to central national monetary policy shocks, as given by a change in the interest rate. Regional heterogeneity of monetary shocks exists in Argentina. At the regional level the long-term effects of increasing the interest rate are negative and statistically significant. At the provincial level, 11 provinces show a negative and significant impact of a shock on the interest rate over employment. However, there are 13 provinces in which the effect is not statistically significant, including the City of Buenos Aires and Buenos Aires Province. Bayesian methods are implemented to study the discrepancies in the impact on different provinces.Fil: Blanco, Emilio. Banco Central de la República Argentina; ArgentinaFil: Elosegui, Pedro Luis. Banco Central de la República Argentina; Argentina. Universidad Nacional de La Plata; Argentina. University of Illinois. Urbana - Champaign; Estados UnidosFil: Izaguirre, Alejandro. Universidad de San Andrés; ArgentinaFil: Montes Rojas, Gabriel Victorio. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; ArgentinaElsevier B.V.2019-11info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/135864Blanco, Emilio; Elosegui, Pedro Luis; Izaguirre, Alejandro; Montes Rojas, Gabriel Victorio; Regional and state heterogeneity of monetary shocks in Argentina; Elsevier B.V.; Journal of Economic Asymmetries; 20; e00129; 11-2019; 1-171703-4949CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/doi/10.1016/j.jeca.2019.e00129info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S1703494919300684?via%3Dihubinfo:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-03T09:47:21Zoai:ri.conicet.gov.ar:11336/135864instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-03 09:47:21.312CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Regional and state heterogeneity of monetary shocks in Argentina
title Regional and state heterogeneity of monetary shocks in Argentina
spellingShingle Regional and state heterogeneity of monetary shocks in Argentina
Blanco, Emilio
MONETARY POLICY
MONETARY TRANSMISSION
REGIONAL EFFECTS
title_short Regional and state heterogeneity of monetary shocks in Argentina
title_full Regional and state heterogeneity of monetary shocks in Argentina
title_fullStr Regional and state heterogeneity of monetary shocks in Argentina
title_full_unstemmed Regional and state heterogeneity of monetary shocks in Argentina
title_sort Regional and state heterogeneity of monetary shocks in Argentina
dc.creator.none.fl_str_mv Blanco, Emilio
Elosegui, Pedro Luis
Izaguirre, Alejandro
Montes Rojas, Gabriel Victorio
author Blanco, Emilio
author_facet Blanco, Emilio
Elosegui, Pedro Luis
Izaguirre, Alejandro
Montes Rojas, Gabriel Victorio
author_role author
author2 Elosegui, Pedro Luis
Izaguirre, Alejandro
Montes Rojas, Gabriel Victorio
author2_role author
author
author
dc.subject.none.fl_str_mv MONETARY POLICY
MONETARY TRANSMISSION
REGIONAL EFFECTS
topic MONETARY POLICY
MONETARY TRANSMISSION
REGIONAL EFFECTS
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv This paper empirically investigates how economic activity in Argentina at regional and provincial (i.e., state) levels responds to central national monetary policy shocks, as given by a change in the interest rate. Regional heterogeneity of monetary shocks exists in Argentina. At the regional level the long-term effects of increasing the interest rate are negative and statistically significant. At the provincial level, 11 provinces show a negative and significant impact of a shock on the interest rate over employment. However, there are 13 provinces in which the effect is not statistically significant, including the City of Buenos Aires and Buenos Aires Province. Bayesian methods are implemented to study the discrepancies in the impact on different provinces.
Fil: Blanco, Emilio. Banco Central de la República Argentina; Argentina
Fil: Elosegui, Pedro Luis. Banco Central de la República Argentina; Argentina. Universidad Nacional de La Plata; Argentina. University of Illinois. Urbana - Champaign; Estados Unidos
Fil: Izaguirre, Alejandro. Universidad de San Andrés; Argentina
Fil: Montes Rojas, Gabriel Victorio. Universidad Nacional de La Plata; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina
description This paper empirically investigates how economic activity in Argentina at regional and provincial (i.e., state) levels responds to central national monetary policy shocks, as given by a change in the interest rate. Regional heterogeneity of monetary shocks exists in Argentina. At the regional level the long-term effects of increasing the interest rate are negative and statistically significant. At the provincial level, 11 provinces show a negative and significant impact of a shock on the interest rate over employment. However, there are 13 provinces in which the effect is not statistically significant, including the City of Buenos Aires and Buenos Aires Province. Bayesian methods are implemented to study the discrepancies in the impact on different provinces.
publishDate 2019
dc.date.none.fl_str_mv 2019-11
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/135864
Blanco, Emilio; Elosegui, Pedro Luis; Izaguirre, Alejandro; Montes Rojas, Gabriel Victorio; Regional and state heterogeneity of monetary shocks in Argentina; Elsevier B.V.; Journal of Economic Asymmetries; 20; e00129; 11-2019; 1-17
1703-4949
CONICET Digital
CONICET
url http://hdl.handle.net/11336/135864
identifier_str_mv Blanco, Emilio; Elosegui, Pedro Luis; Izaguirre, Alejandro; Montes Rojas, Gabriel Victorio; Regional and state heterogeneity of monetary shocks in Argentina; Elsevier B.V.; Journal of Economic Asymmetries; 20; e00129; 11-2019; 1-17
1703-4949
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jeca.2019.e00129
info:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S1703494919300684?via%3Dihub
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Elsevier B.V.
publisher.none.fl_str_mv Elsevier B.V.
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
_version_ 1842268853116076032
score 13.13397

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