NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Argentina Since Martinez De Hoz

Rudiger Dornbusch

NBER Working Paper No. 1466
Issued in September 1984
NBER Program(s):   ITI   IFM

The paper reviews macroeconomic events and policies in Argentina in the period 1981-1984. In that period inflation,that had decelerated to less than 100 percent, resumed and reached irore than 600 percent in mid-1984. The real exchange rate that had appreciated in the policy of disinflation depreciated sharply and, in the end-phase, real wages grew more than forty percent. These events, by Northern-Atlantic standards, are dramatic and the paper attempts to sort out the main issues and connections. Special attention is paid to the role of the real exchange rate and its relation to real wages, the determinants of the black market premium for foreign exchange, and to the budget.

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Document Object Identifier (DOI): 10.3386/w1466

Published: di Tella, Guido and Carlos Rodriguez (eds.) Argentina, 1946-83: The economic ministers speak. New York: St. Martin's Press, 1990.

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