Latin American Economic Review

Table 2 Calibration statistics

From: On the role of financial aid in a default episode

	Argentinian data (1980–2016)^a	Benchmark model
σ(Absorption)/σ(GDP)	1.35	1.08
σ(Fiscal balance)/σ(GDP)	0.25	0.18
σ(Spread)/σ(GDP)	0.67	0.11
ρ(Absorption, GDP)	0.95	0.99
ρ(Fiscal balance, GDP)	− 0.01	− 0.40
ρ(Spread, GDP)	− 0.78	− 0.67

^aData of fiscal balance goes from 1993 to 2016. Data of spreads goes from 1983 to 2002

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