PUSHING THE SISYPHEAN BOULDER? MACROECONOMETRIC TESTING IN LATIN AMERICAN COUNTRIES

@inproceedings{Mena1995PUSHINGTS,
  title={PUSHING THE SISYPHEAN BOULDER? MACROECONOMETRIC TESTING IN LATIN AMERICAN COUNTRIES},
  author={Hugo Mena},
  year={1995}
}
What are the implications of the historically observed economic policy instability in Latin American countries (LACs) for macroeconometric testing? Two pressing restrictions on the econometrician using time-series of LACs arise: time-varying parameters and time-varying specifications. Such an instability also has profound impacts on time-series measurements of national accounts at constant prices. This, together with the 'second best methodology' used in LACs for computing real GNP, implies… CONTINUE READING