Volatility, External Debt, and Fiscal Risk: Simulations of the Impact of Shocks on Fiscal Adjustment for Thirteen Latin American Countries

28 Pages Posted: 20 Apr 2011

See all articles by Kenneth M. Kletzer

Kenneth M. Kletzer

University of California at Santa Cruz; CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Date Written: October 1997

Abstract

This paper examines how the combination of indebtedness and exogenous shocks induce volatility for the countries of Latin America. A techique for simulating the impact of shocks on the costs of external indebtedness and the response of fiscal policies in adjustment to such shocks is presented and applied to thirteen indebted Latin American countries.

Suggested Citation

Kletzer, Kenneth M., Volatility, External Debt, and Fiscal Risk: Simulations of the Impact of Shocks on Fiscal Adjustment for Thirteen Latin American Countries (October 1997). IDB Working Paper No. 295, Available at SSRN: https://ssrn.com/abstract=1815984 or http://dx.doi.org/10.2139/ssrn.1815984

Kenneth M. Kletzer (Contact Author)

University of California at Santa Cruz ( email )

Santa Cruz, CA 95064
United States
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(408) 459-5000 (Fax)

CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Poschinger Str. 5
Munich, DE-81679
Germany

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