04852oam 22010694 450 991078823680332120230721045649.01-4623-6387-31-4519-8628-91-4518-6996-797866128408901-282-84089-4(CKB)3170000000055041(EBL)1605819(SSID)ssj0000944034(PQKBManifestationID)11595727(PQKBTitleCode)TC0000944034(PQKBWorkID)10983803(PQKB)10156990(OCoLC)276784126(MiAaPQ)EBC1605819(IMF)WPIEE2008137(EXLCZ)99317000000005504120020129d2008 uf 0engtxtccrFiscal Positions in Latin America : Have They Really Improved? /Jeromin Zettelmeyer, Ivanna HollarWashington, D.C. :International Monetary Fund,2008.1 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 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.IMF Working Papers; Working Paper ;No. 2008/137RevenueLatin AmericaBusiness cyclesLatin AmericaFiscal policyLatin AmericaInvestments: CommoditiesimfMacroeconomicsimfPublic FinanceimfFiscal PolicyimfCommodity MarketsimfNational Government Expenditures and Related Policies: GeneralimfPersonal Income, Wealth, and Their DistributionsimfInvestment & securitiesimfPublic finance & taxationimfFiscal stanceimfCommodity pricesimfCommoditiesimfExpenditureimfPersonal incomeimfFiscal policyimfPricesimfCommercial productsimfExpenditures, PublicimfIncomeimfArgentinaimfRevenueBusiness cyclesFiscal policyInvestments: CommoditiesMacroeconomicsPublic FinanceFiscal PolicyCommodity MarketsNational Government Expenditures and Related Policies: GeneralPersonal Income, Wealth, and Their DistributionsInvestment & securitiesPublic finance & taxationFiscal stanceCommodity pricesCommoditiesExpenditurePersonal incomeFiscal policyPricesCommercial productsExpenditures, PublicIncome336.02Zettelmeyer Jeromin1462149Hollar Ivanna1485201DcWaIMFBOOK9910788236803321Fiscal Positions in Latin America3704197UNINA