European Parliament Library

Uruguay :, Selected Issues Paper

This paper estimates cyclically adjusted balances for Uruguay, and discusses methodological and practical implementation issues. In line with standard practice, this paper assumes aggregate fiscal revenue elasticity equal to one. The study also focuses on the cyclically adjusted primary balance, so interest payments are excluded from the analysis. It also estimates Cyclically Adjusted Balances (CABs) for both the consolidated public sector and the general government. The economic development and the credibility of the inflation target are discussed. This study identifies the drivers of the low profitability of Uruguayan banks
Table Of Contents
Cover; Contents; I. Uruguay-Assessing the Structural Fiscal Stance; A. Introduction; B. Methodology-Estimating the Cyclically Adjusted Balance (CAB); C. Estimating the CAB for Uruguay: Results; D. Conclusions; References; II. Transmission of Policy Rates in Uruguay: A Cross-Country Perspective; A. Introduction; B. Recent Macroeconomic Developments; C. Credibility of the Inflation Target; D. The Policy Rate Pass Through; E. Empirical Analysis of the Transmission of Monetary Policy Decisions; F. The Role of Financial Factors in the Transmission of Monetary Policy; G. Policy Recommendations
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (44 p.)
Specific Material Designation
Form Of Item

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