Ter-Minassian, Teresa - In: Revista de Economía y Estadística XLIX (2011) 2, pp. 115-143
Latin America has a long history of pro-cyclical fiscal policies, reflecting the region’s exposure to a range of exogenous shocks, tight financial constraints and relatively weak fiscal institutions. This paper discusses the role that structural balance-based fiscal rules (SFRs) could play in...