Series: IMF Working Papers
Author(s): Michael Kumhof , and Douglas Laxton
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2009
Keywords: Structural Fiscal Surplus Rule, tax revenue, labor income, budget constraint, fiscal accounts,
The paper analyzes Chile's structural balance fiscal rule in the face of copper price shocks originating in foreign copper demand. It uses a version of the IMF's Global Integrated Monetary and Fiscal Model (GIMF) t...