Evaluación empírica de una función de reacción fiscal para Colombia, 2000-2012

Juan Galvis

doi:10.17533/udea.le.n82a2

Authors

Juan Galvis National University of Colombia

DOI:

https://doi.org/10.17533/udea.le.n82a2

Keywords:

política fiscal, impuestos, brecha del producto, inflación, fiscal policy, taxes, output gap, inflation, politique fiscale, impôts, écart de production

Abstract

This paper aims to derive an optimal fiscal reaction function and empirically verify it for the Colombian economy for the period 2000-1 to 2012-12. The reaction function uses taxes as a function of public expenditure, the output gap and the inflation rate. The model is verified through trend analysis, impulse response analysis, and with the generalized method of moments (GMM). The results show that the proposed variables explain a third of the variations in taxes.

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Author Biography

Juan Galvis, National University of Colombia

PhD student in economics, Universidade Federal Fluminense, Brazil. Member of the applied microeconomics and economic theory research group, Faculty of Human and Economic Sciences, National University of Colombia, Medellín Headquarters

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