Abstract

LOPEZ GONZALEZ, Mauricio; DUQUE BAQUERO, Sara  and  GOMEZ OLIVO, Blanca Liseth. Scope of the countercyclical fisical policy: the recent case of Latin America. Perf. de Coyunt. Econ. [online]. 2009, n.14, pp.51-68. ISSN 1657-4214.

Within the framework of Real Business Cycles -RBC-, this article seeks to identify the benefits that a stable fiscal policy entails, one that is carried out counter-cyclically and whose goals are not linked to objectives other than macroeconomic stability. This study contemplates the calculations and analysis of different indicators and elasticities and an empirical evaluation for a set of Latin American countries. From this analysis, we conclude that those countries which register public savings during the years of strong economic growth have more leeway for the actions of fiscal policy and producers assimilate better and more efficiently the measures implemented by the government in times of crises. Additionally, capital expenditure (infrastructure) is an ideal mechanism to set off economic growth in the stages of low growth.

Keywords : Fiscal deficit; counter cyclical Fiscal policy; Public Expenditure; Latin America.

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