Fiscal policy in Latin America: Countercyclical and sustainable?

Artikel

This paper analyses fiscal policy for several economies in Latin America, from the early nineties to the 2009 crisis. We present original estimates of cyclically-adjusted public revenues for Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Peru and Uruguay implementing the standardised OECD methodology and extending it to include commodity cycles, which have a direct and significant effect on the fiscal balance of several Latin American countries. Based on these estimates, we evaluate the size of automatic tax stabilisers and the cyclicality of discretionary fiscal policy. Additionally, we highlight the uncertainty stemming from the estimation of the output gap, due to large and simultaneous cyclical, temporary and permanent shocks in several Latin American economies.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Economics: The Open-Access, Open-Assessment E-Journal ; ISSN: 1864-6042 ; Volume: 5 ; Year: 2011 ; Issue: 2011-14 ; Pages: 1-29 ; Kiel: Kiel Institute for the World Economy (IfW)

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Fiscal Policy ; Fiscal Policies and Behavior of Economic Agents: General ; National Budget, Deficit, and Debt: General
• Thema: fiscal policy ; business cycle ; public finances ; Finanzpolitik ; Konjunktur ; Eingebauter Stabilisator ; Lateinamerika

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Daude, Christian ; Melguizo, Ángel ; Neut, Alejandro
• Ereignis: Veröffentlichung
• (wer): Kiel Institute for the World Economy (IfW)
• (wo): Kiel
• (wann): 2011

Weitere Informationen

• DOI: doi:10.5018/economics-ejournal.ja.2011-14
• Handle: http://hdl.handle.net/10419/50736
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ