A Framework for Studying the Monetary and Fiscal History of Latin America, 1960–2017

Abstract: We develop a conceptual framework for analyzing the interactions between aggregate fiscal policy and monetary policy. The framework draws on existing models that analyze sovereign debt crises and balance-of-payments crises. We intend this framework as a guide for analyzing the monetary and fiscal history of a set of eleven major Latin American countries—Argentina, Brazil, Bolivia, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela—from the 1960s until now.

Keywords: Debt crisis; Monetary policy; Off-budget transfers; Banking crisis; Fiscal policy;

JEL Classification: E52; E63; H63; N16;

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Bibliographic Information

Provider: Federal Reserve Bank of Minneapolis

Part of Series: Staff Report

Publication Date: 2020-07-21

Number: 607