Regional and state heterogeneity of monetary shocks in Argentina

Autores
Blanco, Emilio; Elosegui, Pedro; Izaguirre, Alejandro; Montes Rojas, Gabriel
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.
Facultad de Ciencias Económicas
Materia
Economía
Monetary policy
Monetary transmission
Regional effects
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by-nc-sa/4.0/
Repositorio
SEDICI (UNLP)
Institución
Universidad Nacional de La Plata
OAI Identificador
oai:sedici.unlp.edu.ar:10915/127917
Acceder
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oai_identifier_str oai:sedici.unlp.edu.ar:10915/127917
network_acronym_str SEDICI
repository_id_str 1329
network_name_str SEDICI (UNLP)
spelling Regional and state heterogeneity of monetary shocks in ArgentinaBlanco, EmilioElosegui, PedroIzaguirre, AlejandroMontes Rojas, GabrielEconomíaMonetary policyMonetary transmissionRegional effectsThis 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.Facultad de Ciencias Económicas2019-11info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticulohttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfhttp://sedici.unlp.edu.ar/handle/10915/127917enginfo:eu-repo/semantics/altIdentifier/issn/1703-4949info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jeca.2019.e00129info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/4.0/Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-03T11:03:03Zoai:sedici.unlp.edu.ar:10915/127917Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-03 11:03:03.539SEDICI (UNLP) - Universidad Nacional de La Platafalse
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
Economía
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
Izaguirre, Alejandro
Montes Rojas, Gabriel
author Blanco, Emilio
author_facet Blanco, Emilio
Elosegui, Pedro
Izaguirre, Alejandro
Montes Rojas, Gabriel
author_role author
author2 Elosegui, Pedro
Izaguirre, Alejandro
Montes Rojas, Gabriel
author2_role author
author
author
dc.subject.none.fl_str_mv Economía
Monetary policy
Monetary transmission
Regional effects
topic Economía
Monetary policy
Monetary transmission
Regional effects
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.
Facultad de Ciencias Económicas
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
Articulo
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://sedici.unlp.edu.ar/handle/10915/127917
url http://sedici.unlp.edu.ar/handle/10915/127917
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/issn/1703-4949
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jeca.2019.e00129
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
http://creativecommons.org/licenses/by-nc-sa/4.0/
Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-sa/4.0/
Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0)
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:SEDICI (UNLP)
instname:Universidad Nacional de La Plata
instacron:UNLP
reponame_str SEDICI (UNLP)
collection SEDICI (UNLP)
instname_str Universidad Nacional de La Plata
instacron_str UNLP
institution UNLP
repository.name.fl_str_mv SEDICI (UNLP) - Universidad Nacional de La Plata
repository.mail.fl_str_mv alira@sedici.unlp.edu.ar
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