; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "A Decade Lost and Found: Mexico and Chile in the 1980s"; ; "batchuser@example.com"; "Soto, Raimundo", "Bergoeing, Raphael", "Kehoe, Patrick J.", "Kehoe, Timothy Jerome, 1953-"; "Federal Reserve Bank of Minneapolis"; "Mexico", "Total factor productivity", "Chile", "Depression", "Growth accounting"; "O40 - Economic Growth and Aggregate Productivity: General", "E32 - Business Fluctuations; Cycles", "N16 - Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Latin America; Caribbean"; "Chile and Mexico experienced severe economic crises in the early 1980s. This paper analyzes four possible explanations for why Chile recovered much faster than did Mexico. Comparing data from the two countries allows us to rule out a monetarist explanation, an explanation based on falls in real wages and real exchange rates, and a debt overhang explanation. Using growth accounting, a calibrated growth model, and economic theory, we conclude that the crucial difference between the two countries was the earlier policy reforms in Chile that generated faster productivity growth. The most crucial of these reforms were in banking and bankruptcy procedures."^^; "2001-09"; "2019-08-19T15:18:52.916105794+00:00"^^; "https://doi.org/10.21034/sr.292"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Thu Nov 7 21:56:18 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "393", "394", "74", "745"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "292"; "Mexico", "Growth accounting", "Depression", "Total factor productivity", "Chile"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in: _Review of Economic Dynamics_ (Vol. 5, No. 1, January 2002, pp. 166-205) https://doi.org/10.1006/redy.2001.0150. "^^; ; "Publication" . ; .