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• W2102422919 abstract "We build a general equilibrium model of a small open economy, with the purpose of analyzing the effects of a countercyclical rule-based fiscal regime, which corresponds to a stylized version of the structural balance in place in Chile. The economy exports a domestically-produced good and one natural resource (commodity), which is partly state-owned, generating income to the government. We analyze how shocks are transmitted to the economy in the presence of this fiscal rule by introducing shocks to government spending, taxes, and the price of the natural resource. In the last shock, we compare our structural rule with a case where the budget is always balanced. The results make a strong case for the adoption of the latter in other commodityexporting economies." @default.
• W2102422919 created "2016-06-24" @default.
• W2102422919 creator A5072282004 @default.
• W2102422919 creator A5089188673 @default.
• W2102422919 date "2007-07-01" @default.
• W2102422919 modified "2023-09-25" @default.
• W2102422919 title "The Case for a Countercyclical Rule-based Fiscal Regime" @default.
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• W2102422919 hasPublicationYear "2007" @default.
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