Werneck, Rogério L.F.; Irwin, Timothy; Sturzenegger, … - Inter-American Development Bank
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as … deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the …, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth …