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Structural Fiscal Balances Database for LAC: A Tool to Assess Fiscal Performance in the Region

By Fiscal Management Division (VPS/IFD/FMM)

The database allows estimating structural fiscal balances for 20 countries in the region under different assumptions regarding the output gap and commodity structural prices. It is a unique database of its kind since: 1) It takes into consideration the distinct responsiveness of different types of revenues to changes in the output gap: In order to adjust for the impact of the business cycle on revenues, we calculate individual elasticities for each source of revenue (i.e. direct taxes, indirect taxes, revenues from non-renewable resources, etc.). Since the different types of revenues in the region have different sensitivities to changes in the output gap, this disaggregated approach allows for a more fine-tuned adjustment. 2) It includes estimations of SFBs based on output gaps projections available in real time. In addition to giving estimations of the actual SFBs, we provide with estimations of the SFBs that would have resulted should the projections on output gaps available to policymakers at the time of designing fiscal policy (data in real time) have been correct. This is in contrast to much of the existing work on structural fiscal balances that makes only an ex post analysis using actual and revised information on the output gaps. 3) It allows assessing the response of fiscal policy to the business cycle. We provide with measures of the fiscal impulse, assessing not only the actual but also the intentional fiscal stance, as well as the degree of procyclicality of fiscal policy.

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Metadata & use

Identifier https://doi.org/10.60966/z5qn-6b44
License Creative Commons Attribution–NonCommercial–NoDerivs 3.0 IGO
Relation
Citation

Ardanaz, Martín;Gonzales, Alberto;Tolsa Caballero, Nuria, 2015, Structural Fiscal Balances Database for LAC: A Tool to Assess Fiscal Performance in the Region, IDB Open Data, https://doi.org/10.60966/z5qn-6b44
Issued date 2015-06-30
Modified date 2025-04-10
Tags/Keywords Fiscal Management · Fiscal Policy · Government Budget · Tax Collection
Language English
Temporal coverage 1990-2014
Geographic coverage
Argentina
Bahamas
Barbados
Belize
Bolivia
Brazil
Chile
Colombia
Costa Rica
Dominican Republic
Ecuador
El Salvador
Guatemala
Guyana
Haiti
Honduras
Jamaica
Mexico
Nicaragua
Panama
Paraguay
Peru
Suriname
Trinidad and Tobago
Uruguay
Venezuela
Regional coverage Latin America and the Caribbean
Publisher
Inter-American Development Bank
Author
Ardanaz, Martín
Gonzales, Alberto
Tolsa Caballero, Nuria
Data collection type Observational Data
Statistical type Panel Data
Data structure Structured Data

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