Browsing by Author "Rojas-Chaves, Doris"
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- Costa Rica: estimación del Déficit Fiscal estructural y cíclicoIn this article, a methodology used by CEPAL to estimate the structural and cyclical fiscal deficit is applied to the Costa Rican case for the 1983-1999 period. It is a useful tool to evaluate the fiscal policy performance in the medium term. The methodology tries to identify those deficit’s components that respond directly to the budgetary authorities policies. The structural deficit is calculated by substranting from the overall budgetary balance the bussines cycle effect, which is denominated cyclical deficit. Estimated data show that the structural component is the main aspect that influences fiscal disequilibria for both, Central Government and Public Nonfinancial Sector. They also show that the average size of the Central Government`s structural deficit in Costa Rica is the highest compared with some Latin American economies and is highly volatile. Finally, calculations of primary structural deficit show that Internal Debt is the main problem of Costa Rican fiscal deficit.