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Fiscal Policy in Latin America and the European Union

This research study by Carlos Vegh and Guillermo Vuletin examines the fiscal policies in Latin American countries before and after graduation from developing status. The study also explores the fiscal contraction in Eurozone countries and the role of the IMF in lending during bad times.

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Fiscal Policy in Latin America and the European Union

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  1. Fiscal Policy in Latin America and the European Union Carlos Vegh Johns Hopkins (SAIS) and Brookings Guillermo Vuletin Brookings Brookings Institution, October 8, 2013

  2. Graduation in developing countriesBefore After

  3. Graduation in Latin American countriesBefore (av.=0.30) After (av.=0.17)

  4. Who graduated and who did not

  5. Greece

  6. Food for thought • Many LA governments still fail to save enough in good times … What will happen when the good times end? • Eurozone countries’ fiscal contraction in bad times: repeating LA’s past mistakes or unavoidable, “market-driven,” adjustment? • Role of IMF: can lending in bad times be tied to behavior in good times?

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