La pauvreté comme variable d'ajustement : l'exemple du Currency Board argentin

The aim of this study is to address the Argentine experience of convertibility to understand correlations between the Currency Board regime and economics adjustments. First, we define initial poverty profile of different household groups divided according to their respective positions within the labor market. We built a financial general equilibrium model which introduces monetary creation and functioning mechanisms of the Currency Board regime and aimed at demonstrating the impact of macro-shocks or economic policies on household poverty. Simulations of economic conditions experimented by Argentina during the period show that social inequalities and poverty became the main real adjustment variable in such monetary system.