Vol. 3 (2015): núm. especial, vol. 3
Artículos

Crecimiento endógeno y demanda agregada: un análisis de panel de la Unión Monetaria Europea

Ignacio Perrotini Hernández
Universidad Nacional Autónoma de México
Biografía
Heri Óscar Landa Díaz
Universidad Nacional Autónoma de México
Biografía
Publicado diciembre 1, 2015
Palabras clave
  • banca central,
  • crecimiento endógeno,
  • euro,
  • modelos de datos de panel,
  • política fiscal,
  • política monetaria
  • ...Más
    Menos

Resumen

El objetivo principal de este artículo es cuantificar la elasticidad de la tasa natural de crecimiento (gnvis-à-vis las fluctuaciones de la demanda agregada de las economías que conforman la Unión Monetaria Europea. A tal efecto, se emplea un modelo de errores estándar corregidos para panel aplicado a datos de 18 países de la eurozona para el periodo 1980-2012. Los resultados sugieren que la gn comporta una elasticidad positiva –si bien distinta para cada país– respecto a la tasa de crecimiento observada del producto en el largo plazo. A la luz de estas estimaciones es posible evaluar los efectos de las políticas de deflación salarial y austeridad fiscal que el BCE, la CE, el FMI y los mercados financieros han implementado en los países europeos que experimentan una crisis de deuda soberana.

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