This paper presents a design and simulation of a structural fiscal policy in Uruguay. The design includes the derivation of a metric for the structural balance that is most adequate for the country and the calculation of a structural fiscal target. This target is associated to a goal for the net...

A resurgence of perceived opportunities by international investors has resulted in a new policy debate regarding the regulation of capital flows into certain South American countries. The integrationist camp defends totally open markets on the grounds that they result in a more efficient...