Borensztein, Eduardo; Castilleja, Liliana; Hernaiz, Daniel - Inter-American Development Bank - 2012
This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone … of the five countries to the 2008 crisis was countercyclical. On the fiscal side, countries had a larger fiscal space in … 2008 to implement a countercyclical policy thanks to increases in primary balances, improvements in sustainability …