Fiscal Policy in Latin America

# Fiscal Policy in Latin America > OpenAlex Metadata Hub · https://openalex.org/W2034421007 ## Bibliographic - **DOI:** 10.1086/654320 - **Year:** 1997 - **Citations:** 806 - **Open Access:** Yes (green) - **License:** — - **Source:** http://www.nber.org/chapters/c11036.pdf ## Authors - Michael Gavin - Roberto Perotti ## Abstract Fiscal policy in Latin America has been understudied, in part because of inadequate data. This paper utilizes a new, comprehensive database on fiscal outcomes in 13 major Latin American economies which covers central government, local government, and nonfinancial public enterprises at a reasonably detailed level of aggregation. Armed with this database, we lay out some basic facts about fiscal policy in Latin America. We find stark differences between fiscal outcomes in Latin America and in industrial countries. Fiscal outcomes have been far more volatile in Latin America. In sharp contrast to the industrial economies, fiscal policy in Latin America has also been procyclical, casting doubt on the applicability of the Barro (1979) tax-smoothing hypothesis to Latin America. We discuss alternative explanations of fiscal policy procyclicality. We also consider the relationship of fiscal policy to the exchange-rate regime. Contrary to much conventional wisdom, we find no evidence that fixed exchange rates impose greater discipline on fiscal policy. We also find that fiscal expansions in Latin America have been significantly associated with exchange-rate collapses. ## Keywords Latin Americans, Fiscal policy, Economics, Exchange rate, Fiscal union, Fixed exchange rates, Government (linguistics), Monetary economics, Macroeconomics, International economics, Political science ## Concepts - Latin Americans - Fiscal policy - Economics - Exchange rate - Fiscal union - Fixed exchange rates - Government (linguistics) - Monetary economics - Macroeconomics - International economics - Political science - Law - Philosophy - Linguistics --- *Metadata only — full text not imported unless Open Access license permits.*

Bài “Fiscal Policy in Latin America” được TradingBase chuyển thành Knowledge Product cho trader — không phải trang đọc abstract OpenAlex. Tóm lược học thuật (đã diễn giải): Fiscal policy in Latin America has been understudied, in part because of inadequate data. This paper utilizes a new, comprehensive database on fiscal outcomes in 13 major Latin American economies which covers central government, local government, and nonfinancial public enterprises at a reasonably detailed level of aggregation. Armed with this database, we lay out some basic facts about fiscal policy in Latin America. We find stark differences between fiscal outcomes in Latin America and in industrial countries. Fiscal outcomes have been far more volatile in Latin America. In sharp contrast to the industrial economies, fiscal policy in Latin America has also been procyclical, casting doubt on the applicability of the Barro (1979) tax-smoothing hypothesis to Latin America. We discuss alternative explanations of fiscal policy procyclicality. We also consider the relationship of fiscal poli… Phần Trading Insights bên dưới nối nghiên cứu với Forex, vàng, USD, lãi suất và risk regime — để bạn đưa vào journal và playbook. Metadata DOI/OA chỉ là rail tham chiếu; nội dung chính là summary, takeaways và ứng dụng thị trường do Content Factory sinh.