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Efectos Macroeconómicos de la Política Fiscal en Ecuador 1993-2009
[Macroeconomic Effects of Fiscal Policy in Ecuador 1993-2009]

Author

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  • Carrillo, Paul A.

Abstract

Fiscal policy is particularly relevant in dollarized economies. For the case of Ecuador, we analyze the effects of taxes and public spending on the overall performance of the economy for the period 1993-2009. To do this, we use a structural autoregressive vector model (SVAR) incorporating the stylized facts of Ecuador estimated on Gachet et al. (2010). The main results are: i) the taxes have only temporary effects on the ecuadorian economy, ii) the increase in indirect taxes affect negatively on imports, exports and GDP, iii) the increase in direct taxes has a positive effect on exports, vi) a positive shock of government consumption has an effect on taxes and investment, v) fiscal policy instruments have a high interrelation between them.

Suggested Citation

  • Carrillo, Paul A., 2010. "Efectos Macroeconómicos de la Política Fiscal en Ecuador 1993-2009
    [Macroeconomic Effects of Fiscal Policy in Ecuador 1993-2009]
    ," MPRA Paper 34436, University Library of Munich, Germany, revised Oct 2011.
  • Handle: RePEc:pra:mprapa:34436
    as

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    File URL: https://mpra.ub.uni-muenchen.de/34785/2/MPRA_paper_34785.pdf
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    References listed on IDEAS

    as
    1. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-673, September.
    2. Jorge E. Restrepo & Hernán Rincón, 2006. "Identifying Fiscal Policy Shocks In Chile And Colombia," Borradores de Economia 397, Banco de la Republica de Colombia.
    3. Dungey, Mardi & Fry, Renée, 2009. "The identification of fiscal and monetary policy in a structural VAR," Economic Modelling, Elsevier, vol. 26(6), pages 1147-1160, November.
    4. K. Arin & Faik Koray, 2006. "Are some taxes different than others? An empirical investigation of the effects of tax policy in Canada," Empirical Economics, Springer, vol. 31(1), pages 183-193, March.
    5. Waldo Mendoza & Karl Melgarejo, 2008. "La efectividad de la política fiscal en el Perú: 1980-2006," Libros PUCP / PUCP Books, Fondo Editorial - Pontificia Universidad Católica del Perú, number lde-2008-03.
    6. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
    7. Gachet, Ivan & Maldonado, Diego & Oliva, Nicolas & Ramirez, Jose, 2011. "Hechos Estilizados de la Economía Ecuatoriana: El Ciclo Económico 1965-2008
      [Stylized Facts of the Ecuadorian Economy: The Economic Chicle 1965-2008]
      ," MPRA Paper 30280, University Library of Munich, Germany.
    8. Ignacio Lozano & Karen Rodríguez, 2011. "Assessing the macroeconomic effects of fiscal policy in Colombia," Journal of Financial Economic Policy, Emerald Group Publishing, vol. 3(3), pages 206-228, August.
    9. Gachet, Ivan & Maldonado, Diego & Pérez, Wilson, 2008. "Determinantes de la Inflación en una Economía Dolarizada: El Caso Ecuatoriano
      [Determinants of Inflation in a Dollarized Economy: The Case of Ecuador]
      ," MPRA Paper 17101, University Library of Munich, Germany.
    10. Perotti, Roberto, 2002. "Estimating the effects of fiscal policy in OECD countries," Working Paper Series 0168, European Central Bank.
    11. Hernández de Cos, Pablo & de Castro Fernández, Francisco, 2006. "The economic effects of exogenous fiscal shocks in Spain: a SVAR approach," Working Paper Series 647, European Central Bank.
    12. Bénédicte Vidaillet & V. D'Estaintot & P. Abécassis, 2005. "Introduction," Post-Print hal-00287137, HAL.
    13. Roberto Perotti, 2002. "Estimating the effects of fiscal policy in OECD countries," Economics Working Papers 015, European Network of Economic Policy Research Institutes.
    14. Rodrigo Cerda & Luis Felipe Lagos & Hermann González, 2005. "Efectos Dinámicos de la Política Fiscal," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 42(125), pages 63-77.
    15. Harald Badinger, 2006. "Fiscal shocks, output dynamics and macroeconomic stability: an empirical assessment for Austria (1983–2002)," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 33(5), pages 267-284, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Fiscal policy; GDP; SVAR; Stylized Facts; Ecuador Política Fiscal; PIB; SVAR; Hechos Estilizados; Ecuador;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • 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
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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