LEADER 04852oam 22010694 450 001 9910788236803321 005 20230721045649.0 010 $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(IMF)WPIEE2008137 035 $a(EXLCZ)993170000000055041 100 $a20020129d2008 uf 0 101 0 $aeng 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal Positions in Latin America : $eHave They Really Improved? /$fJeromin Zettelmeyer, Ivanna Hollar 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 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 3 $aFiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a "structural" improvement or likely to be transitory? This paper answers this question by estimating the relationship between non-commodity revenue and the economic cycle, and evaluating commodity revenues using alternative medium term commodity price projections. The main result is that structural revenues have indeed improved as a share of GDP, and structural primary balances are currently in surplus in many Latin American countries. However, the magnitude of these improvements is uncertain, in part due to uncertainty about the commodity price outlook. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/137 606 $aRevenue$zLatin America 606 $aBusiness cycles$zLatin America 606 $aFiscal policy$zLatin America 606 $aInvestments: Commodities$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aFiscal Policy$2imf 606 $aCommodity Markets$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aInvestment & securities$2imf 606 $aPublic finance & taxation$2imf 606 $aFiscal stance$2imf 606 $aCommodity prices$2imf 606 $aCommodities$2imf 606 $aExpenditure$2imf 606 $aPersonal income$2imf 606 $aFiscal policy$2imf 606 $aPrices$2imf 606 $aCommercial products$2imf 606 $aExpenditures, Public$2imf 606 $aIncome$2imf 607 $aArgentina$2imf 615 0$aRevenue 615 0$aBusiness cycles 615 0$aFiscal policy 615 7$aInvestments: Commodities 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aFiscal Policy 615 7$aCommodity Markets 615 7$aNational Government Expenditures and Related Policies: General 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aInvestment & securities 615 7$aPublic finance & taxation 615 7$aFiscal stance 615 7$aCommodity prices 615 7$aCommodities 615 7$aExpenditure 615 7$aPersonal income 615 7$aFiscal policy 615 7$aPrices 615 7$aCommercial products 615 7$aExpenditures, Public 615 7$aIncome 676 $a336.02 700 $aZettelmeyer$b Jeromin$01462149 701 $aHollar$b Ivanna$01485201 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788236803321 996 $aFiscal Positions in Latin America$93704197 997 $aUNINA