Impulse on the Aggregate Demand in Bolivia through the Coordination of the Monetary and Fiscal Policy in Crisis Time

Joab Valdivia Coria and Daney David VALDIVIA Coria ()
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Daney David VALDIVIA Coria: Director of the Tax Challenge Authority, Bolivia.

Journal of Economics Bibliography, 2017, vol. 4, issue 2, 156-173

Abstract: At the end of 2014, the Bolivian economy, despite facing negative external shocks (falling oil prices), registered a high economic growth in the region of Latin America. Monetary policy was aimed at keeping the government bond rate close to zero and raising liquidity levels in the economy (monetary policy expansive). On the part of the government, the two main sources of income of the nonfinancial public sector (SPNF) are: i) tax revenues and ii) the sale of hydrocarbons (gas), at that time Bolivia's fiscal policy was countercyclical To the behavior of the Latin American Product (increases in fiscal expenditure in infrastructure). These antecedents, aid to the interest of the study of the coordination of the economic policy in Bolivia. The structure of a Dynamic Stochastic General Equilibrium Model (DSGE) helps us to understand the transmission channels of shocks (in Taylor rule, Phillips curve and public investment) and how the monetary and fiscal policy reacts to these shocks.

Keywords: Bayesian estimation; Monetary policy; Fiscal policy; Dynamic stochastic general equilibrium model (DSGE). (search for similar items in EconPapers)
JEL-codes: E42 E58 E62 E63 (search for similar items in EconPapers)
Date: 2017
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Journal Article: Impulse on the Aggregate Demand in Bolivia through the Coordination of the Monetary and Fiscal Policy in Crisis Time (2017)
Working Paper: Impulse on the Aggregate Demand in Bolivia through the coordination of the Monetary and Fiscal Policy in crisis time (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:cvv:journ6:v:4:y:2017:i:2:p:156-173

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