{
  "title": "Fiscal Positions in Latin America: Have They Really Improved?",
  "publication": "IMF Working Papers, May 1, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986",
  "overlayPath": "/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/index.md",
  "summary": "Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a \"structural\" improvement or likely to be transitory?",
  "sections": [
    {
      "heading": "Overview and Research Question",
      "content": "- Authors: Jeromin Zettelmeyer, Ivanna Vladkova Hollar\n- Publication type: IMF Working Papers, Working Paper No. 2008/137\n- Publication date: May 1, 2008\n- Pages: 30\n- Issue: 137\n- Volume: 2008\n- DOI: https://doi.org/10.5089/9781451869965.001\n- Stock No: WPIEA2008137\n- ISBN: 9781451869965\n- ISSN: 1018-5941\n- Core question: Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a \"structural\" improvement or likely to be transitory?"
    },
    {
      "heading": "Methodology",
      "content": "- Estimates the relationship between non-commodity revenue and the economic cycle.\n- Evaluates commodity revenues using alternative medium term commodity price projections."
    },
    {
      "heading": "Key Findings",
      "content": "- Structural revenues have indeed improved as a share of GDP.\n- Structural primary balances are currently in surplus in many Latin American countries.\n- The magnitude of these improvements is uncertain, in part due to uncertainty about the commodity price outlook."
    },
    {
      "heading": "Themes and Topics",
      "content": "- Commodities\n- Commodity prices\n- Expenditure\n- Fiscal stance\n- Personal income\n- Keywords listed: commodity revenue, output gap, WP"
    },
    {
      "heading": "Data and Supplemental Resources",
      "content": "- Link to data for this title (ZIP) is provided on the page.\n- Formats: Download PDF; More Formats on IMF eLibrary; Order a Print Copy.\n- Citation example provided in Chicago format on the page.\n\nIMF Working Papers — Fiscal Positions in Latin America: Have They Really Improved? by Jeromin Zettelmeyer and Ivanna Vladkova Hollar, May 1, 2008.\n\n---\n\n Content in this bundle\n\n- wp08137\n  - wp08137 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp08137 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/bundle-manifest.json)",
    "Authors: Jeromin Zettelmeyer, Ivanna Vladkova Hollar",
    "Published: May 1, 2008",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451869965.001",
    "Authors: Jeromin Zettelmeyer, Ivanna Vladkova Hollar",
    "Publication type: IMF Working Papers, Working Paper No. 2008/137",
    "Publication date: May 1, 2008",
    "Pages: 30",
    "Issue: 137",
    "Volume: 2008",
    "DOI: https://doi.org/10.5089/9781451869965.001",
    "Stock No: WPIEA2008137",
    "ISBN: 9781451869965",
    "ISSN: 1018-5941",
    "Core question: Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a \"structural\" improvement or likely to be transitory?",
    "Estimates the relationship between non-commodity revenue and the economic cycle.",
    "Evaluates commodity revenues using alternative medium term commodity price projections.",
    "Structural revenues have indeed improved as a share of GDP.",
    "Structural primary balances are currently in surplus in many Latin American countries.",
    "The magnitude of these improvements is uncertain, in part due to uncertainty about the commodity price outlook.",
    "Commodities",
    "Commodity prices",
    "Expenditure",
    "Fiscal stance",
    "Personal income",
    "Keywords listed: commodity revenue, output gap, WP",
    "Link to data for this title (ZIP) is provided on the page.",
    "Formats: Download PDF; More Formats on IMF eLibrary; Order a Print Copy.",
    "Citation example provided in Chicago format on the page.",
    "**_wp08137**"
  ],
  "related": [
    {
      "title": "_wp08137",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2008/_wp08137.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2008/_wp08137.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2008/_wp08137.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/index.md",
    "json": "/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/31/fiscal-positions-in-latin-america-have-they-really-improved-21986/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T14:20:40.620Z"
}