Transformación económica desde la óptica fiscal. ¿Puede existir un equilibrio entre el corto, mediano y largo plazo para fomentar el desarrollo?
[Fiscal view of economic transformation: Can exist and equilibrium between short, medium and long run for boosting development?]
This paper computes the fiscal stance in a small open economy and asses its position to relevant macroeconomic variables in order to protect the macroeconomic stability and promote development. Since 2006 change in income and tax structure shifts the implementation of fiscal policy, increasing fiscal space and its activeness to apply policy. To get the fiscal stance we apply two different methods and use the method proposed by Bates-Granger to obtain its optimal combination. The results show that fiscal policy was contractionary and expansionary over the cycle to inflation, output gap and gross capital formation, leading improvements in poverty and inequality indicators enabling greater economic and social development.
|Date of creation:||09 Nov 2012|
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Web page: https://mpra.ub.uni-muenchen.de
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- Olivier Blanchard & Roberto Perotti, 1999.
"An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output,"
NBER Working Papers
7269, National Bureau of Economic Research, Inc.
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- repec:idb:brikps:73838 is not listed on IDEAS
- Matthew B. Canzoneri & Robert E. Cumby & Behzad T. Diba, 2001.
"Is the Price Level Determined by the Needs of Fiscal Solvency?,"
American Economic Review,
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- Matthew B. Canzoneri & Robert E. Cumby & Behzad T. Diba, 1998. "Is the Price Level Determined by the Needs of Fiscal Solvency?," NBER Working Papers 6471, National Bureau of Economic Research, Inc.
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- Selma Mahfouz & Richard Hemming & Michael Kell, 2002. "The Effectiveness of Fiscal Policy in Stimulating Economic Activity; A Review of the Literature," IMF Working Papers 02/208, .
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