Showing papers by "Francisco J. Buera published in 2019"
TL;DR: In this article, the authors quantified the roles of increases in the demand for skill-intensive output, the ecient scale of service production, and female labor supply in the growth of services.
Abstract: This paper quanties the roles of increases in the demand for skill-intensive output, the ecient scale of service production, and female labor supply in the growth of services. We extend the Buera and Kaboski (2012a,b) model to a two-person household, incorporating a joint decision on home and market production, and allow for skill and sectoral biased technology progress. The rising scale of services, the rising demand for skill-intensive output, and skillbiased technical change all play dominant roles. Furthermore, the extended model explains the majority of the increase in female labor supply, which also plays a role in services growth.
27 citations
TL;DR: The authors reviewed the monetary and fiscal history of Argentina for the period 1960-2017, a time during which then country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises.
Abstract: In this chapter, we review the monetary and fiscal history of Argentina for the period 1960–2017, a time during which then country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises. All told, between 1969 and 1991, after several monetary reforms, thirteen zeros had been removed from its currency. We argue that all these events are the symptom of a recurrent problem: Argentina’s unsuccessful attempts to tame the fiscal deficit. An implication of our analysis is that the future economic evolution of Argentina depends greatly on its ability to develop institutions that guarantee that the government does not spend more than its genuine tax revenues over reasonable periods of time.
5 citations
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TL;DR: This article reviewed the monetary and fiscal history of Argentina for the period 1960-2017, a time during which the country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises.
Abstract: In this chapter, we review the monetary and fiscal history of Argentina for the period 1960?2017, a time during which the country suffered several balance of payments crises, three periods of hyperinflation, two defaults on government debt, and three banking crises. All told, between 1969 and 1991, after several monetary reforms, thirteen zeros had been removed from its currency. We argue that all these events are the symptom of a recurrent problem: Argentina?s unsuccessful attempts to tame the fiscal deficit. An implication of our analysis is that the future economic evolution of Argentina depends greatly on its ability to develop institutions that guarantee that the government does not spend more than its genuine tax revenues over reasonable periods of time.
4 citations