Journal Articles
Discussion Papers
Google+
Twitter
FacebookDiscussion Paper
Abstract
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.
JEL Classification
Cite As
Assessment
Downloads:
757
Search this article at Google Scholar
Comments and Questions
Thank you very much for these helpful and constructive comments.
Please find a detailed answer to them in the attached file.
Here is a revised version of the paper that incorporates several of the changes suggested by Fernandez-Arias as well as Lopez, Jimenez and Cabello.
See attached file
Thank you very much for your helpful and constructive comments.
Please see our detailed replies in the attached file.