Fiscal sustainability and the cyclically adjusted balance policy: methodology and analysis for Chile

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cepal.articleNo10
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2018/5-P
cepal.docTypeRevistas
cepal.jelCodeE62
cepal.jelCodeH6
cepal.jelCodeO23
cepal.jelCodeO11
cepal.jobNumberRVI124_Villena
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.sdg17
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngMACROECONOMICS
cepal.topicEngPUBLIC INCOME AND EXPENDITURE
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaINGRESOS Y GASTOS PÚBLICOS
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorVillena, Mauricio G.
dc.contributor.authorGamboni, Cristóbal
dc.contributor.authorTomaselli, Andrés
dc.coverage.spatialEngCHILE
dc.coverage.spatialSpaCHILE
dc.date.accessioned2018-08-15T18:04:57Z
dc.date.available2018-08-15T18:04:57Z
dc.date.issued2018-04
dc.description.abstractThis paper sets forth a framework for analysing fiscal sustainability in the Chilean economy. It starts by making an ex post calculation of indicators of vulnerability and fiscal sustainability, based on the estimation of a sustainable debt level, with public finances considered in stationary state. It then develops an ad hoc dynamic fiscal sustainability model for Chile’s public finances, which for the first time incorporates the dynamic of the Pension Reserve Fund (FRP) with its accumulation and disbursement rules, together with the cyclically adjusted balance policy. Lastly, the study simulates the path of the budgetary central government’s net debt up to 2025, using the projections made in the 2018 Public Finance Report, under a macroeconomic trend scenario and another adverse scenario, all framed by the cyclically adjusted balance rule.
dc.formatTexto
dc.format.extentpáginas. 203-23
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2018/5-P
dc.identifier.urihttps://hdl.handle.net/11362/43959
dc.language.isoeng
dc.physicalDescriptionp. 203-232; grafs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo124
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordLa sostenibilidad fiscal y la política de balance cíclicamente ajustado: metodología y análisis para Chile
dc.relation.translationUrihttps://hdl.handle.net/11362/43469
dc.rights.coarDisponible
dc.subject.unbisEngTAX ADMINISTRATION
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngPUBLIC FINANCE
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngPUBLIC DEBT
dc.subject.unbisEngECONOMIC INDICATORS
dc.subject.unbisEngECONOMIC TRENDS
dc.subject.unbisSpaADMINISTRACION FISCAL
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaHACIENDA PUBLICA
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaDEUDA PUBLICA
dc.subject.unbisSpaINDICADORES ECONOMICOS
dc.subject.unbisSpaTENDENCIAS ECONOMICAS
dc.titleFiscal sustainability and the cyclically adjusted balance policy: methodology and analysis for Chile
dc.type.coarrevista
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