Chile: Selected Issues Paper

International Monetary Fund

No 2010/299, IMF Staff Country Reports from International Monetary Fund

Abstract: The cornerstone of Chile’s impressive fiscal performance and strong fiscal system has been its structural balance rule. It has helped to insulate public spending from copper price cycles and improve the government’s net financial position. Chile should adopt a full-fledged medium-term fiscal framework to improve fiscal planning and provide a framework for addressing temporary deviations from the fiscal rule. Publishing additional fiscal indicators in the budget, such as the non-copper structural balance, could provide more comprehensive information on the impact of fiscal policy on the domestic demand.

Keywords: ISCR; CR; output gap; capital loss; TCTF risk; output gap equation; wage gap; production function method; TCTF vulnerability; Fiscal stance; Terms of trade; Metal prices; Fiscal rules; Global (search for similar items in EconPapers)
Pages: 58
Date: 2010-09-29
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