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Chile's Structural Fiscal Surplus Rule.

The paper analyzes Chile's structural balance fiscal rule in the face of copper price shocks originating in foreign copper demand. It uses a version of the IMF's Global Integrated Monetary and Fiscal Model (GIMF) that includes a copper sector. Two results are obtained. First, Chile's...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Kumhof, Michael
Otros Autores: Laxton, Douglas
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 0 |a Chile's Structural Fiscal Surplus Rule. 
260 |a Washington :  |b International Monetary Fund,  |c 2009. 
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505 0 |a I. Introduction; II. The Model; Figures; 1. Goods and Factor Flows in GIMF; A. Overlapping Generations Households; B. Liquidity Constrained Households; C. Manufacturers; D. Copper Producers; E. Unions; F. Import Agents; G. Distributors; H. Retailers; I. Government; J. Equilibrium and Balance of Payments; III. Calibration; IV. Choice of Countercyclical Coefficients; Tables; 1. Fiscal Policy Rules and Macroeconomic Volatility; 2. Policy Efficiency Frontiers; V. Choice of Surplus Target; 3. SFS Rule -- Survey; 4. SFS Rule -- Fiscal Accounts; 5. Balanced Budget Rule -- Survey. 
505 8 |a 6. Balanced Budget Rule -- Fiscal Accounts7. Aggressive Countercyclical Rule -- Survey; 8. Aggressive Countercyclical Rule -- Fiscal Accounts; 9. Surplus Target Shock -- Survey; 10. Surplus Target Shock -- Fiscal; VI. Summary; References; Appendices; 1. Population Growth; 2. Optimality Conditions for OLG Households; 3. Consumption and Wealth; 4. Optimality for Manufacturing Firms. 
520 |a The paper analyzes Chile's structural balance fiscal rule in the face of copper price shocks originating in foreign copper demand. It uses a version of the IMF's Global Integrated Monetary and Fiscal Model (GIMF) that includes a copper sector. Two results are obtained. First, Chile's current fiscal rule performs well if the policymaker puts a small weight on output volatility (relative to inflation volatility) in his/her objective function. A more aggressive countercyclical fiscal rule can attain lower output volatility, but there is a trade-off with (somewhat) higher inflation volatility and. 
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650 0 |a Fiscal policy  |z Chile. 
650 0 |a Finance, Public  |z Chile. 
650 6 |a Politique fiscale  |z Chili. 
650 6 |a Finances publiques  |z Chili. 
650 7 |a Finance, Public  |2 fast 
650 7 |a Fiscal policy  |2 fast 
651 7 |a Chile  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39QbtfRFbvHH9JJMfwqG33tTB 
700 1 |a Laxton, Douglas. 
758 |i has work:  |a Chile's structural fiscal surplus rule (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGt78Qw3FKtk6pq4J8Myr3  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Kumhof, Michael.  |t Chile's Structural Fiscal Surplus Rule: A Model-Based Evaluation.  |d Washington : International Monetary Fund, ©2009  |z 9781451872354 
830 0 |a IMF Working Papers. 
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