{
  "title": "Macroeconomic Volatility: The Policy Lessons from Latin America",
  "publication": "IMF Working Papers, July 1, 2006",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/macroeconomic-volatility-the-policy-lessons-from-latin-america-19209",
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  "summary": "The recent recovery in Latin America has been impressive but also raises the question whether this represents a fundamental break with the region's history of boom-bust cycles.",
  "sections": [
    {
      "heading": "Overview and main findings",
      "content": "- The recent recovery in Latin America has been impressive but raises the question whether this represents a fundamental break with the region's history of boom-bust cycles.\n- The paper traces how a history of macroeconomic volatility and financial crisis over the past century has adversely impacted growth and other development indicators.\n- Policy instability is identified as a contributing factor to that volatility and to crisis recurrence.\n- Recent policies in the region offer encouragement that these vulnerabilities are being addressed, but an important agenda still remains to be addressed."
    },
    {
      "heading": "Key substantive points",
      "content": "- Historical analysis: documents a century-long pattern of macroeconomic volatility and financial crises and links these episodes to adverse development outcomes.\n- Policy role: emphasizes the role played by policy instability in amplifying volatility and undermining growth.\n- Recent policy developments: notes that recent policy choices in Latin America provide encouraging signs of reduced vulnerability.\n- Remaining agenda: highlights that, despite improvements, significant policy and structural work remains to consolidate gains and reduce future volatility."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Financial crises, Fiscal policy, Government asset and liability management, Inflation, Public debt\n- Keywords: country, exchange rate, interest rate, terms of trade, WP\n\nSource: IMF Working Papers — \"Macroeconomic Volatility: The Policy Lessons from Latin America\" by Anoop Singh, July 1, 2006.\n\n---\n\n Content in this bundle\n\n- wp06166\n  - wp06166 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp06166 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/macroeconomic-volatility-the-policy-lessons-from-latin-america-19209"
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    "Authors: Anoop Singh",
    "Published: July 1, 2006",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451864267.001",
    "The recent recovery in Latin America has been impressive but raises the question whether this represents a fundamental break with the region's history of boom-bust cycles.",
    "The paper traces how a history of macroeconomic volatility and financial crisis over the past century has adversely impacted growth and other development indicators.",
    "Policy instability is identified as a contributing factor to that volatility and to crisis recurrence.",
    "Recent policies in the region offer encouragement that these vulnerabilities are being addressed, but an important agenda still remains to be addressed.",
    "Historical analysis: documents a century-long pattern of macroeconomic volatility and financial crises and links these episodes to adverse development outcomes.",
    "Policy role: emphasizes the role played by policy instability in amplifying volatility and undermining growth.",
    "Recent policy developments: notes that recent policy choices in Latin America provide encouraging signs of reduced vulnerability.",
    "Remaining agenda: highlights that, despite improvements, significant policy and structural work remains to consolidate gains and reduce future volatility.",
    "Subject: Financial crises, Fiscal policy, Government asset and liability management, Inflation, Public debt",
    "Keywords: country, exchange rate, interest rate, terms of trade, WP",
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