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dc.contributor.authorGarcía Cicco, Javieres
dc.contributor.authorKawamura, Enriquees
dc.contributor.otherUniversidad Católica Argentina. Facultad de Ciencias Económicas. Escuela de Economía "Francisco Valsecchi"es
dc.date.accessioned2019-05-13T17:10:17Z-
dc.date.available2019-05-13T17:10:17Z-
dc.date.issued2014-
dc.identifier.citationGarcía Cicco, J., Kawamura, E. (2014, diciembre). Dealing with the dutch disease : fiscal rules and macro-prudential Documento de trabajo No. 49 de la Escuela de Economía “Francisco Valsecchi”. Facultad de Ciencias Económicas. Universidad Católica Argentina. Disponible en: https://repositorio.uca.edu.ar/handle/123456789/2229es
dc.identifier.urihttps://repositorio.uca.edu.ar/handle/123456789/2229-
dc.description.abstractAbstract: We evaluate from a welfare perspective three policy alternatives frequently proposed to deal with Dutch-disease problems originated from cyclical movements in commodity prices. Namely, fiscal rules for government expenditures, capital controls, and taxes to domestic lending. To this end, we develop a DSGE model of a small open economy with a sectoral decomposition that features three distinctive characteristics: financial frictions, a learning-by-doing externality in the industrial sector, and a fraction of households being non-Ricardian (credit constrained). The first two features induce inefficient relocations after commodity shocks, while the later is relevant to study the role of fiscal rules. We calibrate the model using Chilean data, applying an impulse-response-matching approach. For each of the policy tools, we analyze optimal simple rules from a welfare (Ramsey) perspective, describing how different households rank the several policy alternatives, and studying how each of the models features shape the optimal policy design. A general conclusion of the analysis is that the included Dutch-disease inefficiencies are of limited quantitatively relevance in analyzing the desirability of these policies from a welfare perspectivees
dc.formatapplication/pdfes
dc.languageenges
dc.language.isoenges
dc.publisherUniversidad Católica Argentina. Facultad de Ciencias Económicas. Escuela de Economía "Francisco Valsecchi"es
dc.rightsAcceso Abiertoes
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/es
dc.sourceDocumento de Trabajo nº 49, 2014es
dc.subjectPOLITICA FISCALes
dc.subjectMACROECONOMIAes
dc.subjectPOLITICA ECONOMICAes
dc.subjectGASTO PUBLICOes
dc.titleDealing with the dutch disease : fiscal rules and macro-prudential policieses
dc.typeDocumento de trabajoes
uca.pathFacultad de Ciencias Económicas|Departamento de Investigación "Francisco Valsecchi"|Documentos de Trabajo en Economía|2014es
uca.disciplinaECONOMIAes
uca.filename/home/data-uca-generic/folder_generic/Departamento Francisco Valsecchi/Documentos de trabajo en Economia/dealing-dutch-disease-fiscal/metadata.xmles
uca.issnrd1es
uca.affiliationFil: García-Cicco, Javier. Pontificia Universidad Católica Argentina. Facultad de Ciencias Económicas. Escuela de Economía Francisco Valsecchi; Argentinaes
uca.affiliationFil: Kawamura, Enrique. Universidad de San Andrés; Argentinaes
uca.versionpublishedVersiones
item.grantfulltextopen-
item.fulltextWith Fulltext-
item.languageiso639-1en-
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