Kiel Working Papers, Kiel Institute for World Economics
No 1100:
Macroeconomic Impacts of External Shocks and Anti-Shock Policies in Bolivia: A CGE Analysis
Luis Carlos Jemio and Manfred Wiebelt
Abstract: Bolivia's mid-term growth prospects are promising but
these prospects could be lost, due to social unrest and political
instability, if the country does not solve its short-term economic
problems, resulting from both external shocks and internal factors. Against
this background, this paper analyzes whether the Bolivian economy has any
possibility at all to apply anti-shock policies in order to cushion the
short-term effects of shocks. For this purpose, a recursive-dynamic CGE
model is described which includes both real and financial sectors and which
captures the particular features that characterize the functioning of the
Bolivian economy. The model is then used to evaluate the effects of
external shocks and to test the effectiveness of different policies.
Keywords: Macroeconomic adjustment, CGE model, Bolivia; (follow links to similar papers)
JEL-Codes: E63; C68; O54; (follow links to similar papers)
59 pages, March 2002
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