Fiscal Policy and Income Fluctuations from Natural Resorces

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This KCP seeks to improve the analytical capabilities for macroeconomic analysis in CAN, and to develop a methodology to: (1) better understand the behavior of tax revenue in the Andean countries, distinguishing tax revenues from the exploitation of natural resources. (2) determine the factors behind the movements in tax revenues from natural resources. (3) Determine the impact of revenues from natural resource in the level and composition of government spending. (4) estimate public debt sustainability, explicitly incorporating natural resource revenues. (5) Evaluate the relevance of different mechanisms to mitigate fluctuations in revenues from natural resources (stabilization funds, fiscal rules, etc ...)