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Do Fiscal Rules Cause Better Fiscal Balances? A New Instrumental Variable Strategy

Do Fiscal Rules Cause Better Fiscal Balances? A New Instrumental Variable Strategy »

Source: Do Fiscal Rules Cause Better Fiscal Balances? A New Instrumental Variable Strategy

Volume/Issue: 2019/49

Series: IMF Working Papers

Author(s): Francesca Caselli , and Julien Reynaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 March 2019

ISBN: 9781498300865

Keywords: Fiscal rules, Fiscal balance, Fiscal consolidation, Fiscal framework, Fiscal sustainability, Instrument variable (IV) estimation, Fiscal rules, Fiscal balances., endogeneity, instrumental variable

This paper estimates the causal effect of fiscal rules on fiscal balances in a panel of 142 countries over the period 1985-2015. Our instrumental variable strategy exploits the geographical diffusion of fiscal rule...

Do Fiscal Rules Cause Better Fiscal Balances? A New Instrumental Variable Strategy

Do Fiscal Rules Cause Better Fiscal Balances? A New Instrumental Variable Strategy »

Volume/Issue: 2019/49

Series: IMF Working Papers

Author(s): Francesca Caselli , and Julien Reynaud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 March 2019

DOI: http://dx.doi.org/10.5089/9781498300865.001

ISBN: 9781498300865

Keywords: Fiscal rules, Fiscal balance, Fiscal consolidation, Fiscal framework, Fiscal sustainability, Instrument variable (IV) estimation, Fiscal rules, Fiscal balances., endogeneity, instrumental variable

This paper estimates the causal effect of fiscal rules on fiscal balances in a panel of 142 countries over the period 1985-2015. Our instrumental variable strategy exploits the geographical diffusion of fiscal rule...

Assessing the Macroeconomic Impact of Structural Reforms in Chile

Assessing the Macroeconomic Impact of Structural Reforms in Chile »

Source: Assessing the Macroeconomic Impact of Structural Reforms in Chile

Volume/Issue: 2018/285

Series: IMF Working Papers

Author(s): Metodij Hadzi-Vaskov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2018

ISBN: 9781484386934

Keywords: Technological innovation, Product markets, Productivity, Western Hemisphere, Labor markets, Chile, Fiscal reforms, Education, Structural Reforms, Economics of Regulation

This study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices. In this context, the analysis: i) presents a comp...

Assessing the Macroeconomic Impact of Structural Reforms in Chile

Assessing the Macroeconomic Impact of Structural Reforms in Chile »

Volume/Issue: 2018/285

Series: IMF Working Papers

Author(s): Metodij Hadzi-Vaskov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2018

DOI: http://dx.doi.org/10.5089/9781484386934.001

ISBN: 9781484386934

Keywords: Technological innovation, Product markets, Productivity, Western Hemisphere, Labor markets, Chile, Fiscal reforms, Education, Structural Reforms, Economics of Regulation

This study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices. In this context, the analysis: i) presents a comp...

Banca central en Am�rica Latina

Banca central en Am�rica Latina »

Source: Banca central en América Latina : El camino hacia adelante

Volume/Issue: 2016/197

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Luis I. Jacome H. , Nicolas Magud , and Alejandro Werner

Publisher: CEMLA/Centro de Estudios Monetarios Latinamericano

Publication Date: 31 July 2018

Language: Spanish

ISBN: 9781484343241

Keywords: Argentina, Bolivia, Central bank autonomy, Central banks, Chile, Colombia, Brazil, Ecuador, Financial stability, Intervention

Los bancos centrales de América Latina han avanzado considerablemente en la creación de un entorno de estabilidad de precios que propicie el crecimiento económico sostenible. Examinamos estos logros y analizamos lo...

Banca central en América Latina
			: El camino hacia adelante

Banca central en América Latina : El camino hacia adelante »

Volume/Issue: 2016/197

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Luis I. Jacome H. , Nicolas Magud , and Alejandro Werner

Publisher: CEMLA/Centro de Estudios Monetarios Latinamericano

Publication Date: 31 July 2018

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484343241.001

ISBN: 9781484343241

Keywords: Argentina, Bolivia, Central bank autonomy, Central banks, Chile, Colombia, Brazil, Ecuador, Financial stability, Intervention

Los bancos centrales de América Latina han avanzado considerablemente en la creación de un entorno de estabilidad de precios que propicie el crecimiento económico sostenible. Examinamos estos logros y analizamos lo...

Central Bank Communication and Monetary Policy Surprises in Chile

Central Bank Communication and Monetary Policy Surprises in Chile »

Source: Central Bank Communication and Monetary Policy Surprises in Chile

Volume/Issue: 2018/156

Series: IMF Working Papers

Author(s): Andrea Pescatori

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 2018

ISBN: 9781484363102

Keywords: Financial crises, Foreign banks, Monetary policy; monetary policy shocks; proxy VAR; central bank communication; central bank predictability; inflation forecast dispersion, Chile, Monetary policy, monetary policy shocks, proxy VAR, central bank communication, central bank predictability, inflation forecast dispersion

This paper assesses the quality of the CBC's communication policy by looking at the predictability and effectiveness of monetary policy communications by the Central Bank of Chile (CBC). To do so, we construct inde...

Central Bank Communication and Monetary Policy Surprises in Chile

Central Bank Communication and Monetary Policy Surprises in Chile »

Volume/Issue: 2018/156

Series: IMF Working Papers

Author(s): Andrea Pescatori

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 July 2018

DOI: http://dx.doi.org/10.5089/9781484363102.001

ISBN: 9781484363102

Keywords: Financial crises, Foreign banks, Monetary policy; monetary policy shocks; proxy VAR; central bank communication; central bank predictability; inflation forecast dispersion, Chile, Monetary policy, monetary policy shocks, proxy VAR, central bank communication, central bank predictability, inflation forecast dispersion

This paper assesses the quality of the CBC's communication policy by looking at the predictability and effectiveness of monetary policy communications by the Central Bank of Chile (CBC). To do so, we construct inde...

The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America

The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America »

Volume/Issue: 2018/142

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Antonio David , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

DOI: http://dx.doi.org/10.5089/9781484361696.001

ISBN: 9781484361696

Keywords: Western Hemisphere, Taxation, Chile, Fiscal consolidation, Fiscal policy, emerging market economies, General

We estimate the short-term effects of fiscal consolidation on economic activity in 14 countries in Latin America and the Caribbean. We examine contemporaneous policy documents to identify changes in fiscal policy m...

The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America1

The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America1 »

Source: The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America

Volume/Issue: 2018/142

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Antonio David , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

ISBN: 9781484361696

Keywords: Western Hemisphere, Taxation, Chile, Fiscal consolidation, Fiscal policy, emerging market economies, General

We estimate the short-term effects of fiscal consolidation on economic activity in 14 countries in Latin America and the Caribbean. We examine contemporaneous policy documents to identify changes in fiscal policy m...