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Record Nr. |
UNINA9910788236803321 |
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Autore |
Zettelmeyer Jeromin |
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Titolo |
Fiscal Positions in Latin America : : Have They Really Improved? / / Jeromin Zettelmeyer, Ivanna Hollar |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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1-4623-6387-3 |
1-4519-8628-9 |
1-4518-6996-7 |
9786612840890 |
1-282-84089-4 |
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Descrizione fisica |
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1 online resource (32 p.) |
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Collana |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Revenue - Latin America |
Business cycles - Latin America |
Fiscal policy - Latin America |
Investments: Commodities |
Macroeconomics |
Public Finance |
Fiscal Policy |
Commodity Markets |
National Government Expenditures and Related Policies: General |
Personal Income, Wealth, and Their Distributions |
Investment & securities |
Public finance & taxation |
Fiscal stance |
Commodity prices |
Commodities |
Expenditure |
Personal income |
Fiscal policy |
Prices |
Commercial products |
Expenditures, Public |
Income |
Argentina |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; Tables; 1. Latin America: Fiscal Developments; II. Methodology; A. Noncommodity Structural Revenue; B. Commodity Structural Revenue; C. Structural Balances; III. Results; A. Parameter Estimates and Statistical Tests; 2. Long-Run Income Elasticity of Central Government Tax Revenues; B. Structural Noncommodity Revenues; Figures; 1. Actual and Structural Noncommodity Revenues; C. Structural Commodity Revenues; D. Structural Primary Balances; 2. Actual and Structural Commodity Revenues; 3. Actual and Estimated Structural Primary Balances; IV. Conclusion; References |
Appendices1. Revenue Data and Changes in Tax Structure; 2. Output Gap Estimates; Appendix Tables; A1. LAC Countries: Filter-Based Output Gap Estimates for 2007; 3. Commodity Price Indices and Projections; A2. Commodity Export Shares; A3. Commodity Price Indices and Medium Term Projections |
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Sommario/riassunto |
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Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a "structural" improvement or likely to be transitory? This paper answers this question by estimating the relationship between non-commodity revenue and the economic cycle, and evaluating commodity revenues using alternative medium term commodity price projections. The main result is that structural revenues have indeed improved as a share of GDP, and structural primary balances are currently in surplus in many Latin American countries. However, the magnitude of these improvements is uncertain, in part due to uncertainty about the commodity price outlook. |
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