Identifying Fiscal Policy Shocks in Chile and Colombia

Borradores de Economia
Número: 
397
Publicado: 
Clasificación JEL: 
E62, E63, C32, C51, C52, C53
Palabras clave: 
Identification, Fiscal policy, SVAR, SVEC

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Jaime Alfredo Bonet-Moron, Yuri Carolina Reina-Aranza, Adriana Ortega, Ana Rosa Polanco

Structural VAR and Structural VEC models were estimated for Chile and Colombia, aiming at identifying fiscal policy shocks in both countries between 1990 and 2005. The impulse responses obtained allow the calculation of a peso-for-peso ($/$) effect on out