03340nam 2200637 450 991046400420332120201003005119.01-4623-6387-31-4519-8628-91-4518-6996-797866128408901-282-84089-4(CKB)3170000000055041(EBL)1605819(SSID)ssj0000944034(PQKBManifestationID)11595727(PQKBTitleCode)TC0000944034(PQKBWorkID)10983803(PQKB)10156990(OCoLC)276784126(MiAaPQ)EBC1605819(EXLCZ)99317000000005504120140225h20082008 uy 0engtxtccrFiscal positions in Latin America have they really improved? /Ivanna Vladkova-Hollar and Jeromin Zettelmeyer[Washington, District of Columbia] :International Monetary Fund,2008.©20081 online resource (32 p.)IMF Working PapersDescription based upon print version of record.1-4519-1449-0 Includes bibliographical references.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; ReferencesAppendices1. 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 ProjectionsFiscal performance in Latin America looks much improved this decade compared to the 1980's or 1990's. 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 improvementsIMF Working PapersRevenueLatin AmericaBusiness cyclesLatin AmericaFiscal policyLatin AmericaElectronic books.RevenueBusiness cyclesFiscal policy336.02Vladkova Hollar Ivanna862001Zettelmeyer Jeromin862002MiAaPQMiAaPQMiAaPQBOOK9910464004203321Fiscal positions in Latin America1924027UNINA