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Repensando las Reglas Fiscales en la Región

Author

Listed:
  • Samuel Alarcón

    (ILADES (Chile))

  • Pablo Cachaga

    (Banco Central de Bolivia)

  • Martin Vallejos

    (University Higher School of Economics (Rusia))

Abstract

Durante los últimos años América Latina ha experimentado importantes fluctuaciones en sus términos de intercambio. Bajo este contexto, los países que están sujetos a reglas fiscales no lograron mitigar totalmente el impacto de los shocks externos adversos en sus economías, a través del uso de la política fiscal. En este sentido, haciendo uso de un modelo SVAR se encuentran indicios que, ante shocks negativos de términos de intercambio, las reglas fiscales aplicadas por los países sudamericanos no necesariamente garantizan la efectividad de la política fiscal para estabilizar las fluctuaciones del ciclo económico. Asimismo, una política fiscal expansiva para algunos países de la región podría ayudar a reducir la volatilidad del ciclo.

Suggested Citation

  • Samuel Alarcón & Pablo Cachaga & Martin Vallejos, 2018. "Repensando las Reglas Fiscales en la Región," Cuadernos de Investigación Económica Boliviana, Ministerio de Economía y Finanzas Públicas de Bolivia, vol. 2(2), pages 45-86, Diciembre.
    • Handle: RePEc:efp:journl:v:2:y:2018:i:2:p:45-86
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    More about this item

    Keywords

    Política Fiscal; Términos de Intercambio; Ciclo Económico; Reglas Fiscales;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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