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Structural fiscal balance Costa Rica 1998 – 2014

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  • Rojas, Daniel

Abstract

This article presents a structural fiscal balance for the Costa Rican economy. The structural balance is an ex-post indicator of fiscal policy performance which attempts to contribute to the development of a fiscal rule. In order to derive this indicator the IMF’s general methodology was applied to data from the Costa Rican Ministry of Finance. The elasticities of tax revenues and current expenditure to national output were estimated by means of a simple OLS model while potential output was estimated by means of the Hodrick-Prescott. The article’s main conclusion is that the structural fiscal balance moves in the same direction as that of the output gap.

Suggested Citation

  • Rojas, Daniel, 2017. "Structural fiscal balance Costa Rica 1998 – 2014," Revista de Ciencias Económicas, Instituto de Investigaciones en Ciencias Económicas, Universidad de Costa Rica, vol. 35(1), January.
    • Handle: RePEc:rce:rvceco:29096
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    File URL: https://revistas.ucr.ac.cr/index.php/economicas/article/view/29096
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    References listed on IDEAS

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    1. Ardanaz, Martín & Corbacho, Ana & Gonzales, Alberto & Tolsa Caballero, Nuria, 2015. "Structural Fiscal Balances in Latin America and the Caribbean: New Dataset and Estimations," IDB Publications (Working Papers) 6989, Inter-American Development Bank.
    2. Martín Ardanaz & Ana Corbacho & Alberto Gonzales & Nuria Tolsa Caballero, 2015. "Structural Fiscal Balances in Latin America and the Caribbean: New Dataset and Estimations," IDB Publications (Working Papers) 89816, Inter-American Development Bank.
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