A WELFARE ANALYSIS OF ECONOMIC FLUCTUATIONS IN SOUTH AMERICA

Fábio Augusto Reis Gomes and Leandro Nascimento

Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]

Abstract: How large are welfare costs associated with economic aggregate fluctuations is a topic of great concern among economists at least since Robert Lucas' well-known and thought-provoking exercise in the late 1980s. Our analysis assesses the magnitude of such costs for nine countries in South America by means of three alternative trend-cycle decomposition methods. The results suggest South American countries have welfare costs of economic fluctuations notably higher than the U. S. economy.

JEL-codes: C32 E32 C51 E60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2004
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