Have the economies of Latin America become less volatile as a result of the economic stabilization and structural reforms implemented during the past decade? The answer is a qualified "yes". The reforms have helped, but more needs to be done to ensure the macroeconomic stability required for...

En la última década la orientación de las políticas microeconómicas dio un giro extraordinario en América Latina, pero la legislación laboral prácticamente no cambió. El propósito central de este trabajo es mostrar la magnitud de este atraso y señalar que en la mayoría de países se...

Do governments in Latin America tend to be optimistic when preparing budgetary projections? We address this question by constructing a novel dataset of the authorities’ fiscal forecasts in six Latin American economies using data from annual budget documents over the period 2000-2018. In turn,...

This paper compares the pattern of macroeconomic volatility in 17 Latin American countries during episodes of high and low growth since 1970, examining in particular the role of policy volatility. Macroeconomic outcomes are distinguished from macroeconomic policies, structural reforms and...