{"title":"马克里的宏观:通往稳定和增长的难以捉摸的道路","authors":"F. Sturzenegger","doi":"10.1353/eca.2019.0016","DOIUrl":null,"url":null,"abstract":"ABSTRACT:This paper reviews the various macroeconomic stabilization programs implemented during the Macri government between 2015 and 2019. After an initial success, each program was discontinued because of a distinct form of fiscal dominance: as pensions are indexed with a lag and represent a large portion of spending, quick disinflations jeopardize fiscal consolidation. Thus, lack of progress on the fiscal front was the fundamental reason why the objective of macroeconomic stability remained elusive.","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":"16 1","pages":"339 - 436"},"PeriodicalIF":2.8000,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"8","resultStr":"{\"title\":\"Macri's Macro: The Elusive Road to Stability and Growth\",\"authors\":\"F. Sturzenegger\",\"doi\":\"10.1353/eca.2019.0016\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT:This paper reviews the various macroeconomic stabilization programs implemented during the Macri government between 2015 and 2019. After an initial success, each program was discontinued because of a distinct form of fiscal dominance: as pensions are indexed with a lag and represent a large portion of spending, quick disinflations jeopardize fiscal consolidation. Thus, lack of progress on the fiscal front was the fundamental reason why the objective of macroeconomic stability remained elusive.\",\"PeriodicalId\":51405,\"journal\":{\"name\":\"Brookings Papers on Economic Activity\",\"volume\":\"16 1\",\"pages\":\"339 - 436\"},\"PeriodicalIF\":2.8000,\"publicationDate\":\"2020-09-17\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"8\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Brookings Papers on Economic Activity\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1353/eca.2019.0016\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Brookings Papers on Economic Activity","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1353/eca.2019.0016","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Macri's Macro: The Elusive Road to Stability and Growth
ABSTRACT:This paper reviews the various macroeconomic stabilization programs implemented during the Macri government between 2015 and 2019. After an initial success, each program was discontinued because of a distinct form of fiscal dominance: as pensions are indexed with a lag and represent a large portion of spending, quick disinflations jeopardize fiscal consolidation. Thus, lack of progress on the fiscal front was the fundamental reason why the objective of macroeconomic stability remained elusive.
期刊介绍：
The Brookings Papers on Economic Activity (BPEA) is a semi-annual academic conference and journal that pairs rigorous research with real-time policy analysis to address the most urgent economic challenges of the day. Working drafts of the papers are presented and discussed at conferences typically held twice each year, and the final versions of the papers and comments along with summaries of the general discussions are published in the journal several months later. The views expressed by the authors, discussants and conference participants in BPEA are strictly those of the authors, discussants and conference participants, and not of the Brookings Institution. As an independent think tank, the Brookings Institution does not take institutional positions on any issue.
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