Factor productivity in the Argentinean agriculture

This paper is aimed at investigating the endogeneity of the total factor productivity in the Argentinean agriculture. In a simple model ofendogenous technological change, the implementation of new techniques of production would depend upon sectoral relative prices, and upon the overall endowment of capital and land relative to labor. It is found that the estimations using data covering the years 1939-1984 do not reject the hypothesis of endogeneity of technological change as a function of the aforementioned variables. It is also found that the fiscal deficit negatively affects the implementation of new techniques. The coefficient of labor in the value added of the agricultural sector (cereals and oilseeds, livestock and fisheries) is 0.28 according to the estimates of the 1973 input-output matrix data, a value that is very close to the estimate used in this paper.Total factor productivity, available and implemented technologies, cointegrated vector autoregressions, Barttlet correction, eigenvalues

Agricultural supply response in the Argentinean economy

Este trabajo tiene como objetivo estimar la forma reducida de una función de oferta agropecuaria de la economía argentina en el marco de un modelo de equilibrio general. Los resultados de la estimación de la oferta agropecuaria con datos que cubren los años 1939-1984 muestran que hay una elasticidad precio de oferta de largo plazo de aproximadamente 1.3 que es estadísticamente significativa, y que la convergencia al estado estacionario se logra en aproximadamente nueve años. Esta estimación de la elasticidad de oferta agropecuaria es aproximadamente tres veces más grande que estimaciones previas con modelos de equilibrio parcial.This paper estimates a reduced-form agricultural supply function for the Argentinean economy within the framework of a general equilibrium model. The results of the estimation using data covering the years 1939-1984 show that there is a statistically significant long-run supply price elasticity of agricultural output of about 1.3, and that the convergence to an equilibrium state is achieved in about nine years. The estimated agricultural supply price elasticity is found to be about three times larger than previous estimates using partial equilibrium models.Instituto de Investigaciones Económica

How Far Have Commercial Policy Reforms of the 90s in Argentina Gone?

The purpose of this paper is to assess the extent to which changes in commercial policies in Argentina during the 90s have contributed to expand the country’s volume of trade compared to those of the 80s. The estimates indicate that the commercial policies of the late 90s resulted in a reduction in the taxation of international trade from 80 percent in the second half of the 80s to 20 percent. This reduction in the taxation of the volume of trade is estimated to account for 68 percent of the total increase in the volume of imports of the period 1995-99 over that of the second half of the 80s. On the other hand, increases in aggregate demand and in real output, and more favorable external terms of trade account for the remaining 32 percent of the increase in imports.    

Factor Productivity in the Argentinean Agriculture

This paper is aimed at investigating the endogeneity of the total factor productivity in the Argentinean agriculture. In a simple model ofendogenous technological change, the implementation of new techniques of production would depend upon sectoral relative prices, and upon the overall endowment of capital and land relative to labor. It is found that the estimations using data covering the years 1939-1984 do not reject the hypothesis of endogeneity of technological change as a function of the aforementioned variables. It is also found that the fiscal deficit negatively affects the implementation of new techniques. The coefficient of labor in the value added of the agricultural sector (cereals and oilseeds, livestock and fisheries) is 0.28 according to the estimates of the 1973 input-output matrix data, a value that is very close to the estimate used in this paper

Agricultural supply response in the Argentinean economy

Este trabajo tiene como objetivo estimar la forma reducida de una función de oferta agropecuaria de la economía argentina en el marco de un modelo de equilibrio general. Los resultados de la estimación de la oferta agropecuaria con datos que cubren los años 1939-1984 muestran que hay una elasticidad precio de oferta de largo plazo de aproximadamente 1.3 que es estadísticamente significativa, y que la convergencia al estado estacionario se logra en aproximadamente nueve años. Esta estimación de la elasticidad de oferta agropecuaria es aproximadamente tres veces más grande que estimaciones previas con modelos de equilibrio parcial.This paper estimates a reduced-form agricultural supply function for the Argentinean economy within the framework of a general equilibrium model. The results of the estimation using data covering the years 1939-1984 show that there is a statistically significant long-run supply price elasticity of agricultural output of about 1.3, and that the convergence to an equilibrium state is achieved in about nine years. The estimated agricultural supply price elasticity is found to be about three times larger than previous estimates using partial equilibrium models.Instituto de Investigaciones Económica

Inflación y Balanza de Pagos: La Experiencia de Algunos Países Latinoamericanos

The purpose of this paper is to explain the relative magnitude of the impact effect of monetary disequilibria on the balance of payments and the domestic rate of inflation, and to estimate it for a set of Latin American countries. The estimated model allo

Dinero y Ciclo Económico en la Economía Argentina

The main purpose of this study is to analyze the responses of real output to monetary shocks in the Argentine economy during 1964-1982. The results, derived from Sims' multivariate analysis of time series, indicate that those responses are statistically s