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Impulse on the Aggregate Demand in Bolivia through the Coordination of the Monetary and Fiscal Policy in Crisis Time

Journal of Economics Bibliography

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Title Impulse on the Aggregate Demand in Bolivia through the Coordination of the Monetary and Fiscal Policy in Crisis Time
 
Creator VALDIVIA CORIA, Joab Dan; Analyst in Macrosectorial Research of the Central Bank of Bolivia: joab_dan@hotmail.com , jvaldivia@bcb.gob.bo
VALDIVIA CORIA, Daney David; Director of the Tax Challenge Authority
 
Subject Bayesian estimation; Monetary policy; Fiscal policy; Dynamic stochastic general equilibrium model (DSGE).
E42; E58; E62; E63.
 
Description Abstract. At the end of 2014, the Bolivian economy, despite facing negative external shocks (falling oil prices), registered a high economic growth in the region of Latin America. Monetary policy was aimed at keeping the government bond rate close to zero and raising liquidity levels in the economy (monetary policy expansive). On the part of the government, the two main sources of income of the nonfinancial public sector (SPNF) are: i) tax revenues and ii) the sale of hydrocarbons (gas), at that time Bolivia's fiscal policy was countercyclical To the behavior of the Latin American Product (increases in fiscal expenditure in infrastructure). These antecedents, aid to the interest of the study of the coordination of the economic policy in Bolivia. The structure of a Dynamic Stochastic General Equilibrium Model (DSGE) helps us to understand the transmission channels of shocks (in Taylor rule, Phillips curve and public investment) and how the monetary and fiscal policy reacts to these shocks.Keywords. Bayesian estimation, Monetary policy, Fiscal policy, Dynamic stochastic general equilibrium model (DSGE).JEL. E42, E58, E62, E63.
 
Publisher Journal of Economics Bibliography
 
Contributor —
 
Date 2017-06-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEB/article/view/1323
10.1453/jeb.v4i2.1323
 
Source Journal of Economics Bibliography; Vol 4, No 2 (2017): June; 156-173
2149-2387
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEB/article/view/1323/1302
 
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