Can Fiscal Rules Help Reduce Macroeconomic Volatility in the Latin America and Caribbean Region?

The debate on fiscal policy in Europe centers on how to let automatic stabilizers work while achieving fiscal consolidation. There is significant agreement on the importance of using fiscal policy as a counter-cyclical instrument, as monetary polic...

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Bibliographic Details
Main Author:	Perry, Guillermo
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING ASYMMETRIC INFORMATION BENCHMARK BUDGET DEFICITS BUDGETARY INSTITUTIONS BUDGETARY PROCESS CAPACITY BUILDING CAPITAL FLOWS CAPITAL GOODS CENTRAL BANK CENTRAL GOVERNMENT COALITIONS CONSERVATISM CONSOLIDATION CONSTITUTIONAL LAW CONSTITUTIONAL REFORM DEBT DEFAULT RISK DEPOSITS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS ECONOMIC ACTIVITY ECONOMIC INSTABILITY ECONOMIC PERFORMANCE ELASTICITIES ELASTICITY EMPIRICAL EVIDENCE ENACTMENT EQUILIBRIUM EXPANSIONARY FISCAL EXPANSIONARY POLICIES EXPANSIONARY POLICY EXPENDITURE EXPENDITURES EXPORTS FINANCIAL DEEPENING FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL MARKETS FINANCIER FISCAL FISCAL BALANCE FISCAL COSTS FISCAL CRISES FISCAL CRISIS FISCAL POLICIES FISCAL POLICY FISCAL REVENUES FISCAL RULES FISCAL STANCE FISCAL STRESS FISCAL TRANSPARENCY GDP GOVERNMENT EXPENDITURES GOVERNMENT POLICY GROWTH RATE HUMAN CAPITAL INCOME INCOME DISTRIBUTION INFLATION INTEREST RATES INTERGOVERNMENTAL TRANSFERS INTERNATIONAL FINANCIAL MARKETS LABOR MARKETS LAWS LDCS LEGISLATION LOCAL AUTHORITIES LOW INTEREST RATES MACROECONOMIC PERFORMANCE MACROECONOMIC STABILIZATION MDB MONETARY POLICIES MONETARY POLICY OIL OIL PRICES OPPOSITION PARTIES ORGANIZATIONAL CAPITAL PENALTIES PERVERSE INCENTIVES POLITICAL CONSENSUS POLITICAL ECONOMY POLITICIANS POTENTIAL OUTPUT PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC INVESTMENTS PUBLIC SPENDING REAL EXCHANGE RATE REAL GDP REVENUE AVAILABILITY ROYALTY SAFETY NETS SAVINGS SOCIAL TRANSFERS SUBNATIONAL GOVERNMENTS TERMS OF TRADE TOTAL REVENUE UNDERLYING PROBLEMS VETO MACROECONOMIC SHOCKS FISCAL ADMINISTRATION SOLVENCY COUNTER-CYCLICAL INTERVENTIONS POLITICAL ACCOUNTABILITY MACROECONOMIC SHOCKS VETO
Online Access:	http://documents.worldbank.org/curated/en/2003/06/2438506/can-fiscal-rules-help-reduce-macroeconomic-volatility-latin-america-caribbean-region http://hdl.handle.net/10986/18172

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http://documents.worldbank.org/curated/en/2003/06/2438506/can-fiscal-rules-help-reduce-macroeconomic-volatility-latin-america-caribbean-region
http://hdl.handle.net/10986/18172

Can Fiscal Rules Help Reduce Macroeconomic Volatility in the Latin America and Caribbean Region?

Internet

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