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Efectos macroeconómicos de la política fiscal durante la crisis del Covid-19: evidencia de Bolivia a nivel regional

Author

Listed:
  • Chalup Calmotti, Miguel Sebastiano

    (Centro de Investigación Económica del Colegio de Economista (ciece), Colegio de Economistas de Santa Cruz (Santa Cruz de la Sierra, Bolivia))

  • Escobar Caba, Luis Fernando

    (Universidad Autónoma Gabriel René Moreno y Centro de Investigación Económica del Colegio de Economista (ciece), Colegio de Economistas de Santa Cruz.)

Abstract

This paper evaluates the impact of the fiscal policy applied in Bolivia during the Covid-19 crisis at a regional level. It includes two analyses: the economic slowdown at a regional level analyzed through a mixed frequency Bayesian va r with a stochastic volatility model, and the impact and effectiveness of the fiscal policy using a time-varying parameter va rmodel. The results indicate that the pandemic had a heterogeneous effect on the region’s economic activity and the capital expenditure from the national treasury was the most effective fiscal policy to reduce the recessive effects of the crisis. We also noted that some regions positively reacted to regional and local government capital expenditure

Suggested Citation

  • Chalup Calmotti, Miguel Sebastiano & Escobar Caba, Luis Fernando, 2023. "Efectos macroeconómicos de la política fiscal durante la crisis del Covid-19: evidencia de Bolivia a nivel regional," Revista de Economía del Rosario, Universidad del Rosario, vol. 26(1), pages 1-39, June.
    • Handle: RePEc:col:000151:020918
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    More about this item

    Keywords

    Fiscal policy; Covid-19; shocks; economic cycles; mixed frequency vector autoregressions; stochastic volatility; regional and local expenditures;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

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