IMF: commodity shocks explain variation in Latin American fiscal positions
An IMF paper published on 1 August explores the impact of volatile commodity prices on Latin American countries' fiscal positions, finding that institutional arrangements explain a large portion of the differences across countries' fiscal positions.
The boom and bust in commodity prices during the last decade has raised concerns about the impact of these shocks on Latin American countries' fiscal positions. Leandro Medina, the author, uses quarterly data from 1975 to 2008 for eight commodity
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