Fiscal policy and the economic cycle in Chile

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(61/97)
cepal.docTypeRevistas
cepal.idSade19987
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngSOCIAL INVESTMENT/SPENDING
cepal.topicEngPUBLIC INCOME AND EXPENDITURE
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaINVERSIÓN/GASTO SOCIAL
cepal.topicSpaINGRESOS Y GASTOS PÚBLICOS
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSOCIAL DEVELOPMENT
cepal.workareaEngSTATISTICS
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaDESARROLLO SOCIAL
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorBudnevich, Carlos
dc.contributor.authorLe Fort Varela, Guillermo
dc.coverage.spatialEngCHILE
dc.coverage.spatialSpaCHILE
dc.date.accessioned2014-01-02T18:41:47Z
dc.date.available2014-01-02T18:41:47Z
dc.date.issued1997-04
dc.descriptionIncludes bibliography
dc.description.abstractThis article studies the effect of the stabilization of fiscal expenditure and the anti-cyclical use of taxes as stabilization variables in the Chilean economy, through the calibration of a basic macroeconomic model adapted to the actual conditions of that economy. The results show that some 25% of the variability of economic growth could be eliminated by obviating fiscal cyclical impulses through constant growth of public investment and consumption and through anti-cyclical taxes. On the one hand, it is proposed that a system of stabilization of the growth of fiscal expenditure should be established, through a system of rules and degrees of flexibility subject to specific clauses. An important element in the implementation of stabilization policies is a tax revenue stabilization fund which would register and store up the counter-cyclical reactions of the fiscal authorities and make fiscal expenditure independent of the revenue obtained at any particular point in the economic cycle. On the other hand, an analysis is made of both the feasibility and the efficacy of fixing the value added tax (IVA); in a more flexible manner, as well as the problems of inconsistency over time that this would cause. For this latter reason, an analysis is also made of the costs and benefits of supplementing more flexible application of the IVA with greater flexibility as regards income tax or tax incentives for investment. It is concluded that the State has a variety of instruments that could be used to implement an anti-cyclical policy, such as the possibility of establishing rules for the growth of expenditure, stabilization funds, and greater flexibility of taxes.
dc.formatTexto
dc.format.extentpáginas. 135-147
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.1955-P
dc.identifier.urihttps://hdl.handle.net/11362/10593
dc.language.isoeng
dc.physicalDescriptionp. 135-147
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo61
dc.relation.isPartOfSeriesCEPAL Review
dc.subject.unbisEngBUDGETARY POLICY
dc.subject.unbisEngBUSINESS CYCLES
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngPUBLIC EXPENDITURES
dc.subject.unbisEngTAX REVENUES
dc.subject.unbisEngVALUE ADDED TAX
dc.subject.unbisSpaCICLOS ECONOMICOS
dc.subject.unbisSpaGASTOS PUBLICOS
dc.subject.unbisSpaIMPUESTO AL VALOR AGREGADO
dc.subject.unbisSpaINGRESOS FISCALES
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaPOLITICA PRESUPUESTARIA
dc.titleFiscal policy and the economic cycle in Chile
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication69c305d0-b33e-47bc-a9ad-289b2adc424a
relation.isAuthorOfPublication7c659238-9039-48c4-afee-3e8a7dc9d5bf
relation.isAuthorOfPublication.latestForDiscovery69c305d0-b33e-47bc-a9ad-289b2adc424a
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