Structural Fiscal (Vargas, González and Lozano)

Macroeconomic effects of structural fiscal policy changes in Colombia by Hernando Vargas, Andrés González and Ignacio Lozano . “In the past decade the Colombian Economic Authorities undertook a series of measures that reduced the structural fiscal deficit, decreased the Government currency mismatch and  deepened the local fixed-rate public bond market. This paper presents some evidence suggesting that these improvements had important effects on the behavior of the macroeconomy.”