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Auteur Enrique Alberola-Ila
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Documents disponibles écrits par cet auteur
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Titre : |
Output gaps and policy stabilisation in Latin America : the effect of commodity and capital flow cycles |
Type de document : |
document électronique |
Auteurs : |
Diego Urbina, Auteur ; Marco Jacopo Lombardi, Auteur ; Rocío Gondo ; Enrique Alberola-Ila |
Editeur : |
Bâle [Suisse] : BIS |
Année de publication : |
June 2016 |
Collection : |
Working Papers num. 568 |
Langues : |
Anglais (eng) |
Tags : |
Prix Matières premières Flux des capitaux Politique fiscale Amérique latine |
Résumé : |
We provide a measure of the output gap that filters out the impact of the commodity and net capital inflows booms for Latin American countries. These two factors temporarily boost output and so are likely to push up estimates of potential growth in the region to unrealistic levels, thereby resulting in an underestimation of the output gaps during the upswing of the commodity cycle. We also shed light on the interaction between the two components. The results show that commodity prices has been the dominant factor explaining deviation of activity from sustainable levels. The timely consideration of these factors could prevent a procyclical fiscal policy bias in the region. |
En ligne : |
http://www.bis.org/publ/work568.htm |
Output gaps and policy stabilisation in Latin America : the effect of commodity and capital flow cycles [document électronique] / Diego Urbina, Auteur ; Marco Jacopo Lombardi, Auteur ; Rocío Gondo ; Enrique Alberola-Ila . - Bâle (Suisse) : BIS, June 2016. - ( Working Papers; 568) . Langues : Anglais ( eng)
Tags : |
Prix Matières premières Flux des capitaux Politique fiscale Amérique latine |
Résumé : |
We provide a measure of the output gap that filters out the impact of the commodity and net capital inflows booms for Latin American countries. These two factors temporarily boost output and so are likely to push up estimates of potential growth in the region to unrealistic levels, thereby resulting in an underestimation of the output gaps during the upswing of the commodity cycle. We also shed light on the interaction between the two components. The results show that commodity prices has been the dominant factor explaining deviation of activity from sustainable levels. The timely consideration of these factors could prevent a procyclical fiscal policy bias in the region. |
En ligne : |
http://www.bis.org/publ/work568.htm |
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work568.pdfAdobe Acrobat PDF | | |
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