Internal and External Shocks and Economic Policy Innovations in Bolivia: A General Approach

Asian Economic and Financial Review

article

Roger Alejandro Banegas Rivero¹  Marco Alberto Nunez Ramirez²  Jorge Salas Vargas¹  Luis Fernando Escobar Caba¹  Irma Guadalupe Esparza Garcia² 

[1] Universidad Autonoma Gabriel Rene Moreno, Department of Economics, Ciudad Universitaria;Instituto Tecnologico de Sonora, Department of Management

关键词: Economic policy;    External shocks;    Internal shocks;    Productivity shock;    Steady state;    DSGE.;   

DOI  :  10.18488/journal.aefr.2021.111.57.77

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This paper contributes to quantifying the severity of various types of shocks for one small open economy. The role of fiscal policy was evaluated along with monetary and exchange rate innovations and the findings reflect the relevance of domestic and external shocks. These estimates show that productivity shocks explain about 90% of real variables in the economy. Regarding external shocks, the presence of oil perturbance affects approximately one-third of the fiscal balance behavior. Finally, the main instrument of economic policy is related to public investment innovations that cause more than the 50% of the real variables, especially as an instrument for economic crisis.

【 授权许可】

CC BY