A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile
In June 2008 the President of Chile Michelle Bachelet had a low approval rating for management of the economy in particular. There were undoubtedly multiple reasons for this but a major reason was popular resentment that the government had resisted intense pressure to spend soaring receipts from cop...
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Banco Central de Chile
2019
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oai-20.500.12580-37902021-04-24T11:06:43Z A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile Frankel, Jeffrey A. POLÍTICA FISCAL GASTOS PÚBLICOS In June 2008 the President of Chile Michelle Bachelet had a low approval rating for management of the economy in particular. There were undoubtedly multiple reasons for this but a major reason was popular resentment that the government had resisted intense pressure to spend soaring receipts from copper exports. Copper is Chile’s biggest export and Chile is the world’s biggest copper exporter. The world price of copper was at $800 per metric ton in 2008 a historical high in nominal terms and more than quadruple the level of 2001. Yet the government insisted on saving most of the proceeds. 2019-11-01T00:05:50Z 2019-11-01T00:05:50Z 2013 Artículo 978-956-7421-37-4 https://hdl.handle.net/20.500.12580/3790 eng Series on Central Banking Analysis and Economic Policies no. 17 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 323-391 application/pdf CHILE Banco Central de Chile |
| institution |
Banco Central |
| collection |
Banco Central |
| language |
eng |
| topic |
POLÍTICA FISCAL GASTOS PÚBLICOS |
| spellingShingle |
POLÍTICA FISCAL GASTOS PÚBLICOS Frankel, Jeffrey A. A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile |
| description |
In June 2008 the President of Chile Michelle Bachelet had a low approval rating for management of the economy in particular. There were undoubtedly multiple reasons for this but a major reason was popular resentment that the government had resisted intense pressure to spend soaring receipts from copper exports. Copper is Chile’s biggest export and Chile is the world’s biggest copper exporter. The world price of copper was at $800 per metric ton in 2008 a historical high in nominal terms and more than quadruple the level of 2001. Yet the government insisted on saving most of the proceeds. |
| format |
Artículo |
| author |
Frankel, Jeffrey A. |
| author_facet |
Frankel, Jeffrey A. |
| author_sort |
Frankel, Jeffrey A. |
| title |
A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile |
| title_short |
A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile |
| title_full |
A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile |
| title_fullStr |
A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile |
| title_full_unstemmed |
A solution to fiscal procyclicality: the structural budget institutions pioneered by Chile |
| title_sort |
solution to fiscal procyclicality: the structural budget institutions pioneered by chile |
| publisher |
Banco Central de Chile |
| publishDate |
2019 |
| url |
https://hdl.handle.net/20.500.12580/3790 |
| work_keys_str_mv |
AT frankeljeffreya asolutiontofiscalprocyclicalitythestructuralbudgetinstitutionspioneeredbychile AT frankeljeffreya solutiontofiscalprocyclicalitythestructuralbudgetinstitutionspioneeredbychile |
| _version_ |
1718346319703048192 |