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Fiscal Policy, Stabilization, and Growth: Prudence or Abstinence?
Werneck, Rogério L.F.; Irwin, Timothy; Sturzenegger, Federico; Perry, Guillermo; Servén, Luis; Mihov, Ilian; Giavazzi, Francesco; Blanchard, Olivier; Araújo, Carlos Hamilton Vasconcelos; Suescún, Rodrigo; Ferreira, Pedro Cavalcanti Gomes; Smart, Michael; Mintz, Jack M.; Fatás, Antonio
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively…