LEADER 03340nam 2200637 450 001 9910464004203321 005 20201003005119.0 010 $a1-4623-6387-3 010 $a1-4519-8628-9 010 $a1-4518-6996-7 010 $a9786612840890 010 $a1-282-84089-4 035 $a(CKB)3170000000055041 035 $a(EBL)1605819 035 $a(SSID)ssj0000944034 035 $a(PQKBManifestationID)11595727 035 $a(PQKBTitleCode)TC0000944034 035 $a(PQKBWorkID)10983803 035 $a(PQKB)10156990 035 $a(OCoLC)276784126 035 $a(MiAaPQ)EBC1605819 035 $a(EXLCZ)993170000000055041 100 $a20140225h20082008 uy 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal positions in Latin America $ehave they really improved? /$fIvanna Vladkova-Hollar and Jeromin Zettelmeyer 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1449-0 320 $aIncludes bibliographical references. 327 $aContents; 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 327 $aAppendices1. 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 330 $aFiscal performance in Latin America looks much improved this decade compared to the 1980's or 1990's. Is this a ""structural"" improvement or likely to be transitory? This paper answers this question by estimating the relationship between non-commodity revenue and the economic cycle, and evaluating commodity revenues using alternative medium term commodity price projections. The main result is that structural revenues have indeed improved as a share of GDP, and structural primary balances are currently in surplus in many Latin American countries. However, the magnitude of these improvements 410 0$aIMF Working Papers 606 $aRevenue$zLatin America 606 $aBusiness cycles$zLatin America 606 $aFiscal policy$zLatin America 608 $aElectronic books. 615 0$aRevenue 615 0$aBusiness cycles 615 0$aFiscal policy 676 $a336.02 700 $aVladkova Hollar$b Ivanna$0862001 701 $aZettelmeyer$b Jeromin$0862002 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464004203321 996 $aFiscal positions in Latin America$91924027 997 $aUNINA