05148oam 22011894 450 991096112120332120250426110704.0978661284089097814623638721462363873978145198628014519862899781451869965145186996797812828408981282840894(CKB)3170000000055041(EBL)1605819(SSID)ssj0000944034(PQKBManifestationID)11595727(PQKBTitleCode)TC0000944034(PQKBWorkID)10983803(PQKB)10156990(OCoLC)276784126(IMF)WPIEE2008137(MiAaPQ)EBC1605819(IMF)WPIEA2008137WPIEA2008137(EXLCZ)99317000000005504120020129d2008 uf 0engurcnu||||||||txtccrFiscal Positions in Latin America : Have They Really Improved? /Jeromin Zettelmeyer, Ivanna Hollar1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (32 p.)IMF Working PapersIMF working paper ;WP/08/137Description based upon print version of record.9781451914498 1451914490 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 AmericaCommercial productsimfCommoditiesimfCommodity MarketsimfCommodity pricesimfExpenditureimfExpenditures, PublicimfFiscal PolicyimfFiscal policyimfFiscal stanceimfIncomeimfInvestment & securitiesimfInvestments: CommoditiesimfMacroeconomicsimfNational Government Expenditures and Related Policies: GeneralimfPersonal incomeimfPersonal Income, Wealth, and Their DistributionsimfPricesimfPublic finance & taxationimfPublic FinanceimfArgentinaimfRevenueBusiness cyclesFiscal policyCommercial productsCommoditiesCommodity MarketsCommodity pricesExpenditureExpenditures, PublicFiscal PolicyFiscal policyFiscal stanceIncomeInvestment & securitiesInvestments: CommoditiesMacroeconomicsNational Government Expenditures and Related Policies: GeneralPersonal incomePersonal Income, Wealth, and Their DistributionsPricesPublic finance & taxationPublic Finance336.02Zettelmeyer Jeromin1814421Hollar Ivanna1815714DcWaIMFBOOK9910961121203321Fiscal Positions in Latin America4371229UNINA