Macroeconomic Regime, Trade Openness, Unemployment and Inequality: The Argentine Experience

Abstract

This paper analyzes the Argentine experience of the interactions of macroeconomic regime, labour performance, income distribution and poverty during the Convertibility Plan and the new macroeconomic regime that followed the collapse of the currency board regime. Differing theoretical perspectives are discussed, and diverse labour and social indicators analyzed. The macroeconomic framework is found to have a bearing on the social situation. Further, the negative effects of the macroeconomic configuration on the labour market and income distribution persist even after the country has resumed a growth path. The complete recovery of the standard of living conditions thus requires additional public policy efforts targeted at the more vulnerable groups, even under macroeconomic regimes more favourable to employment generation.

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