Since 2006, Bolivia began an intensive public investment program under its development plan. Fourteen years later, I analyze the role of this expansionary fiscal policy. In this regard, I develop a Dynamic Stochastic General Equilibrium Model for a small, open and developing country. Among the...

The following study identifies five periods with different price regimes (for main hydrocarbons): 1) 1986-1996, where these prices are part of the Government's fiscal policy to finance part of the structural adjustment policies after the inflationary period; 2) 1997-1999, when a new methodology...

In this paper we examine how the balance-of-payments constraint can limit output and income distribution in a small economy open to both commercial and financial flows, as well as constrain fiscal and monetary policies. We do so by extending a Sraffian supermultiplier growth model to consider...

Drawing on a literature review, this paper looks at the role that preferential tax regimes (PTRs) for micro, small and medium enterprises (MSMEs) play in encouraging enterprise formalization and enterprise growth. The main focus is on emerging economies, notably from Latin America, where this...