Abstract

http://ssrn.com/abstract=1985188
 
 

References (31)



 


 



Fiscal Policy in Latin America: Countercyclical and Sustainable at Last?


Christian Daude


affiliation not provided to SSRN

Ángel Melguizo


OECD Development Centre

Alejandro Neut


Organization for Economic Co-Operation and Development (OECD)

March 25, 2010


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.

Number of Pages in PDF File: 36

Keywords: fiscal policy, business cycle, public finances

JEL Classification: E62, H30, H60

working papers series


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Date posted: January 14, 2012  

Suggested Citation

Daude, Christian and Melguizo, Ángel and Neut, Alejandro, Fiscal Policy in Latin America: Countercyclical and Sustainable at Last? (March 25, 2010). Available at SSRN: http://ssrn.com/abstract=1985188 or http://dx.doi.org/10.2139/ssrn.1985188

Contact Information

Christian Daude
affiliation not provided to SSRN ( email )
Ángel Melguizo (Contact Author)
OECD Development Centre ( email )
2 rue Andre Pascal
Paris, 75016
France
+33601055334 (Phone)

Alejandro Neut
Organization for Economic Co-Operation and Development (OECD) ( email )
2 rue Andre Pascal
Paris Cedex 16, 75775
France
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References:  31

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