LEADER 05148oam 22011894 450 001 9910961121203321 005 20250426110704.0 010 $a9786612840890 010 $a9781462363872 010 $a1462363873 010 $a9781451986280 010 $a1451986289 010 $a9781451869965 010 $a1451869967 010 $a9781282840898 010 $a1282840894 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(IMF)WPIEE2008137 035 $a(MiAaPQ)EBC1605819 035 $a(IMF)WPIEA2008137 035 $aWPIEA2008137 035 $a(EXLCZ)993170000000055041 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal Positions in Latin America : $eHave They Really Improved? /$fJeromin Zettelmeyer, Ivanna Hollar 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/137 300 $aDescription based upon print version of record. 311 08$a9781451914498 311 08$a1451914490 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 $aCommercial products$2imf 606 $aCommodities$2imf 606 $aCommodity Markets$2imf 606 $aCommodity prices$2imf 606 $aExpenditure$2imf 606 $aExpenditures, Public$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aFiscal stance$2imf 606 $aIncome$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Commodities$2imf 606 $aMacroeconomics$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aPersonal income$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aPrices$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 607 $aArgentina$2imf 615 0$aRevenue 615 0$aBusiness cycles 615 0$aFiscal policy 615 7$aCommercial products 615 7$aCommodities 615 7$aCommodity Markets 615 7$aCommodity prices 615 7$aExpenditure 615 7$aExpenditures, Public 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aFiscal stance 615 7$aIncome 615 7$aInvestment & securities 615 7$aInvestments: Commodities 615 7$aMacroeconomics 615 7$aNational Government Expenditures and Related Policies: General 615 7$aPersonal income 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aPrices 615 7$aPublic finance & taxation 615 7$aPublic Finance 676 $a336.02 700 $aZettelmeyer$b Jeromin$01814421 701 $aHollar$b Ivanna$01815714 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961121203321 996 $aFiscal Positions in Latin America$94371229 997 $aUNINA