La evaluación de la regla fiscal peruana desde una perspectiva de agregados económicos

  • Carlos Cortez Lopez Universidad Alberto Hurtado
Keywords: Fiscal rule, small and open economy, fiscal pro-cyclicality.

Abstract

The purpose of this paper is to evaluate the effects of structural balance fiscal rule on economic aggregates through a dynamic stochastic general equilibrium (DSGE) model, which characterizes an emerging small and open economy as the Peruvian. The results show how this fiscal rule reduces the volatility of different aggregates and the cyclicality of consumption, government spending, investment, imports, exports, net external debt of the economy and the production of non-tradable, except of the production of exportable goods. However, other shocks has a null or opposite effect, namely structural balance fiscal rule is a necessary condition, but not sufficient to smooth the transition of government spending and other economic aggregates to the steady state.
Published
2018-06-30
How to Cite
Cortez Lopez, C. (2018). La evaluación de la regla fiscal peruana desde una perspectiva de agregados económicos. Economic Analysis Review, 33(1), 3-28. Retrieved from https://www.rae-ear.org/index.php/rae/article/view/631
Section
Articles