The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies : Evidence from Latin America /

We estimate the short-term effects of fiscal consolidation on economic activity in 14 countries in Latin America and the Caribbean. We examine contemporaneous policy documents to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective...

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Príomhchruthaitheoir: Carriere-Swallow, Yan
Rannpháirtithe: David, Antonio, Leigh, Daniel
Formáid: IRIS
Teanga:English
Foilsithe / Cruthaithe: Washington, D.C. : International Monetary Fund, 2018.
Sraith:IMF Working Papers; Working Paper ; No. 2018/142
Rochtain ar líne:Full text available on IMF
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020 |z 9781484361696 
022 |a 1018-5941 
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100 1 |a Carriere-Swallow, Yan. 
245 1 4 |a The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies :   |b Evidence from Latin America /  |c Yan Carriere-Swallow, Antonio David, Daniel Leigh. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2018. 
300 |a 1 online resource (42 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a We estimate the short-term effects of fiscal consolidation on economic activity in 14 countries in Latin America and the Caribbean. We examine contemporaneous policy documents to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Based on this narrative dataset, our estimates suggest that fiscal consolidation has contractionary effects on GDP, consistent with a multiplier of 0.9. We find these effects to be close to those in OECD countries based on a similarly constructed dataset (Devries and others, 2011). We also find similar estimation results for the two groups of economies for the effect of fiscal consolidation on the external current account balance, providing support for the twin deficits hypothesis. 
538 |a Mode of access: Internet 
700 1 |a David, Antonio. 
700 1 |a Leigh, Daniel. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2018/142 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2018/142/001.2018.issue-142-en.xml  |z IMF e-Library