The authors analyze the structure of public deficits in Chile, distinguishing between consolidated nonfinancial public deficits and quasifiscal losses of the Central Bank - focusing on the determinants and sustainability of the deficits. In the framework of an estimated portfolio model, they simulate the path of domestic inflation and interest rates for money-financed and debt-financed deficits. Then they trace the effects of deficits, and their form...
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1991/06/30
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Documento de trabalho sobre pesquisa de políticas
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WPS696
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1
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1
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2010/07/01
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Macroeconomics of public sector deficits : the case of Chile
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present value estimate
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