From Macroeconomic Stability to Welfare: Optimizing Fiscal Rules in Commodity-Dependent Economies
May 2023
Author(s): Heresi, Rodrigo;Villacreces Villacis, Daniela
This paper examines the welfare implications of alternative rule-based fiscal policies in an economy with financially-constrained households. Using a New Keynesian DSGE model of a multi-sectoral…
Un marco estratégico de acción para la política y gestión fiscal en América Latina y Caribe
May 2023
Author(s): Pineda, Emilio;Rasteletti, Alejandro;Muñoz Miranda, Andrés;Nicaretta, Romina
¿Cuáles son las herramientas fiscales que los gobiernos de América Latina y el Caribe deberían usar para responder a dos de los retos más grandes de la región? Es una de las regiones más desiguales…
Why Do Voters Support Procyclical Fiscal Policies? Experimental Evidence from Latin America
Apr 2023
Author(s): Ardanaz, Martín;Hübscher, Evelyne;Keefer, Philip;Sattler, Thomas
Governments often pursue procyclical fiscal policies, even though they reduce voter welfare. Is this because voters actually prefer procyclical policies? The analysis in this paper exploits the first…
Research Insights: How Can Policymakers Make Fiscal Rules More Effective?
Mar 2023
Author(s): Ardanaz, Martín;Cavallo, Eduardo A.;Izquierdo, Alejandro
Despite the relative popularity of fiscal rules, they are per se, no panacea for improving fiscal performance. Fiscal rule effectiveness is enhanced when policymakers consider i) the quality of rule…
Perspectivas de investigación: ¿cómo pueden los responsables políticos hacer más eficaces las reglas fiscales?
Mar 2023
Author(s): Ardanaz, Martín;Cavallo, Eduardo A.;Izquierdo, Alejandro