# Latin America ## expand\_more Sort“[A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile](http://hks.harvard.edu/fs/jfrankel/ChileBudgetRules2011.doc),” 2013, *Fiscal Policy and Macroeconomic Performance,* edited by Luis Cespedes and Jordi Gali, [Series on Central Banking Analysis, and Economic Policie](http://www.bcentral.cl/eng/studies/central-banking/index.htm). [NBER WP](http://www.nber.org/papers/w16945) No.[16945](http://hks.harvard.edu/fs/jfrankel/ChileBudgetRules2011AprNBER.pdf), [April ](http://hks.harvard.edu/fs/jfrankel/ChileBudgetRules2011AprNBER.doc)2011. [Also in Spanish translation](http://www.bcentral.cl/eng/studies/economia-chilena/2011/aug/recv14n2ago2011pp39-78.pdf),[ *Journal Economía Chilena* (*The Chilean Economy*)](http://ideas.repec.org/s/chb/bcchec.html), 2011, [Central Bank of Chile](http://www.bcentral.cl/eng/publications/studies/studies03.htm), vol.14, [no.2, Aug.](http://www.bcentral.cl/eng/studies/economia-chilena/2011/aug/v14n2aug2011.htm), pp.39-78. Condensed from "A Solution to Overoptimistic Forecasts and Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile," [HKS RWP11-012, Feb.2011](http://web.hks.harvard.edu/publications/workingpapers/citation.aspx?PubId=7626) ([full version with Fixed Effects](http://hks.harvard.edu/fs/jfrankel/ChileBudgetRules2011FE%20HKS.doc)).[CID](http://www.hks.harvard.edu/centers/cid/publications/faculty-working-papers/cid-working-paper-no.-216) [WP 216](http://www.hks.harvard.edu/centers/cid/publications/faculty-working-papers/cid-working-paper-no.-216), [Jan](http://hks.harvard.edu/fs/jfrankel/ChileBudgetRules2011Jan7CIDwp.doc).2011. [Central Bank of Chile](http://www.bcentral.cl/eng/studies/working-papers/index.htm) [WP 604,](http://www.bcentral.cl/eng/studies/working-papers/604.htm) [ Jan.](http://hks.harvard.edu/fs/jfrankel/ChileCB-WP-Frankel2011-01-07DTBC.pdf)2011. [Conference draft](http://hks.harvard.edu/fs/jfrankel/ChileBudgetRules2010.doc), [Slides](http://hks.harvard.edu/fs/jfrankel/ChileFiscalLessons2010Oct.ppt), [14th Annual Conference](http://www.bcentral.cl/eng/conferences-seminars/annual-conferences/2010/Fiscal_Policy_Macroeconomic_Performance.htm) of the Central Bank of Chile, Oct.2010, Santiago. [Data](http://hks.harvard.edu/fs/jfrankel/ChileDataPosted%20Xl0000009.xls). [In Stata](http://hks.harvard.edu/fs/jfrankel/ChileDataPosted.dta). Data [explanation](http://hks.harvard.edu/fs/jfrankel/ChileDataExplanation.docx). [Data for figures](http://hks.harvard.edu/fs/jfrankel/ChileDataforFigures.xlsx). ["A Lesson From the South for Fiscal Policy in the US and Other Advanced Countries](http://dash.harvard.edu/handle/1/4726595)," *Comparative Economic Studies,* 2011, vol. 53, no. 3, [pp 407-430](http://link.springer.com/article/10.1057/ces.2011.7). [Short version:](http://hks.harvard.edu/fs/jfrankel/LessonsForUSfiscalfromEMsWBk2000wds.doc), "What Lessons Do Developing Countries Have for Fiscal Policy in the US?," [slides](http://hks.harvard.edu/fs/jfrankel/LessonsEMs-USBD-NYU2010.ppt), Workshop on *Restoring Inclusive Growth,* NYU, Oct. 2010. “[A Comparison of Product Price Targeting and Other Monetary Anchor Options, for Commodity-Exporters in Latin America](http://hks.harvard.edu/fs/jfrankel/LaceaEconomiaPPT2011.pdf)," [*Economia*](http://www.cid.harvard.edu/Economia/)*,* vol.11 ([Brookings Institution](http://www.brookings.edu/press/journals.aspx)),2011. *Economia* panel meeting, May 2011. NBER WP [16362](http://hks.harvard.edu/fs/jfrankel/LAC-PPTw16362.pdf), [Sept. 2010](http://hks.harvard.edu/fs/jfrankel/LAC%20PPT2010.doc). Revised from "[A Comparison of Monetary Anchor Options for Commodity-Exporters in Latin America and the Caribbean](http://hks.harvard.edu/fs/jfrankel/LACA-PEP-09.doc),” *Myths and Realities of Commodity Dependence: Policy Challenges and Opportunities for Latin America and the Caribbean*, World Bank, 2009. [Slides](http://hks.harvard.edu/fs/jfrankel/LAC-Sept2009.ppt); [Box in](http://hks.harvard.edu/fs/jfrankel/LAC-Frankel%20box.docx) *Natural Resources in Latin America and the Caribbean: Beyond Booms and Busts,*World Bank, 2010. "[Are Bilateral Remittances Countercyclical?](http://hks.harvard.edu/fs/jfrankel/Remittances2010.doc)," [*Open Economies Review*](http://www.springer.com/economics/international%20economics/journal/11079) vol.22, No.1, Feb.2011, pages 1-16*.* NBER [WP](http://hks.harvard.edu/fs/jfrankel/RemittancesNBER-WP15419.pdf) [15419](http://www.nber.org/papers/w15419), [Oct.](http://hks.harvard.edu/fs/jfrankel/RemittancesSept12-nber%20.doc)2009. Bilateral remittance data: [Lueth,](http://hks.harvard.edu/fs/jfrankel/BilatRemitData-Lueth.xls) [C.America](http://hks.harvard.edu/fs/jfrankel/BilatRemitDataCAmericaRemesas.xls). [Presented, May 2009](http://hks.harvard.edu/fs/jfrankel/RemittancesMacroMay2009.doc) at [*Immigration and Global Development*](http://www.cid.harvard.edu/migration/index.html#09conf) *conference,* Center for Global Development, Washington DC. [slides](http://hks.harvard.edu/fs/jfrankel/RemittancesCountercyclical09.ppt). Sort“[Possible Impacts of Global Climate Change Policy on Mexico and other Developing Countries in Coming Years](http://hks.harvard.edu/fs/jfrankel/Mexiclimatechange09.doc),” memo to Mexican President Felipe Calderón, Jan. 2009. Chapter 2.2 of [*The Mexico Competitiveness Report 2009*](http://www.weforum.org/pdf/Mexico/MCR_2009.pdf)*,* edited by Ricardo Hausmann, [CID](http://www.cid.harvard.edu/archive/books.html#mexico09), Harvard University; and Emilio Lozoya Austin and Irene Mia, [WEF](http://www.weforum.org/en/media/Latest%20Press%20Releases/PR_MCR09). (Geneva: World Economic Forum), 2009. Released in June 2009 at a [workshop in Mexico City](http://www.hks.harvard.edu/news-events/news/articles/mexico-report) attended by President Calderón. "[Contractionary Currency Crashes in Developing Countries](/file_url/836) [in Developing Countries](/file_url/1169)[,](http://www.hks.harvard.edu/fs/jfrankel/ContractionaryCurrencyCrashesIMFSP.pdf)" *IMF Staff Paper*s, 52, no.2, 2005. *The Mundell Fleming Lecture,* [Nov, 5, 2004](http://www.hks.harvard.edu/fs/jfrankel/Contractionary_currency_crashes.pdf), IMF 5th Annual Research Conference. [HKS RWP 05-017](https://research.hks.harvard.edu/publications/workingpapers/citation.aspx?PubId=2514&type=FN&PersonId=15); [NBER WP No.11508](https://www.nber.org/papers/w11508)[.](http://www.hks.harvard.edu/fs/jfrankel/CCCMay26p11Ju6.pdf) \[Data on fate of [political leaders after devaluations](/file_url/1176) & [promises](/file_url/1174). [Yr.byYr summary](/file_url/1175).\] ["Comment on Caballero 'Structural Volatility in Latin America',"](http://hks.harvard.edu/fs/jfrankel/CommentOnCaballeroStructuralVolatilityInLA.pdf) in *Economia,* Journal of the Latin American Economic Association, Vol.1, No.1, Fall 2000, pp. 89-107 (Brookings Press). ["Verifiability and the Vanishing Intermediate Exchange Rate Regime,"](http://ksghome.harvard.edu/~jfrankel/vervan.pdf) with Sergio Schmukler and Luis Servén; *Brookings Trade Forum 2000,* edited by Susan Collins and Dani Rodrik (Brookings Institution, Washington DC). ["Verifiability: A Rationale for the Failure of Intermediate Exchange Rate Regimes," ](http://ksghome.harvard.edu/~jfrankel/verifiability.pdf) InterAmerican Seminar in Economics, Buenos Aires, Dec. 1999, organized by Sebastian Edwards and Edgardo Zablotsky. Revised as [World Bank Pol.Res.WP No 2397](http://wbln0018.worldbank.org/research/workpapers.nsf/View%20to%20Link%20WebPages/023FBE4230513C7F8525691C006BCDEA?OpenDocument). "Sterilization of Money Inflows: Difficult (Calvo) or Easy (Reisen)?" English version in[ Estudios de Economia (Universidad de Chile: Santiago)](http://www.facea.uchile.cl/publicaciones/econ/est.econ/public.htm), vol. 24, no. 2, December 1997, 263-285. Spanish version in *Afluencia de Capitales y Establizacion en America Latina*, Roberto Steiner, ed., Fedesarrollo, Bogota, 1994: 241-267. Latinamerican Macroeconomic Network, Cartagena, 1993; [IMF ](http://www.imf.org/EXTERNAL/PUBS/CAT/longres.cfm?sk&sk=1850.0)Working Paper No. 94/159. ["Liberalized Portfolio Capital Inflows in Emerging Markets: Sterilization, Expectations, and the Incompleteness of Interest Rate Convergence,"](http://ksghome.harvard.edu/~jfrankel/STEPKFWB-IJFE.3.PDF) with Chudozie Okongwu,*International Journal of Finance and Economics* 1, no. 1, Jan. 1996, 1-23. ["Country Fund Discounts and the Mexican Crisis of 1994: Did Mexican Residents Turn Pessimistic Before International Investors?"](http://papers.nber.org/papers/W5714) with Sergio Schmukler, *Open Economies Review* 7, Fall 1996, 511-534. [Fed.Res.Bd. Int.Fin.Disc.Paper No. 563](http://www.bog.frb.fed.us/pubs/ifdp/1996/563/ifdp563.pdf). Condensed version of CIDER WP No. C96-067. Reprinted in *Currency Crashes: Causes, Consequences and Policy Responses*, edited by George Tavlas, Kluwer, 1997, 81-104. ["Crises, Contagion, and Country Funds: Effects on East Asia and Latin America"](http://hks.harvard.edu/fs/jfrankel/CountryFunds-Contagion.pdf) with Sergio Schmukler, [*Managing Capital Flows and Exchange Rates: Lessons from the Pacific Rim*](http://www.cup.org/ObjectBuilder/ObjectBuilder.iwx?ProcessName=ProductPage&Merchant_Id=1&product_id=0-521-62323-5&origin=search&searchField=AUTHOR&searchString=glick), Reuven Glick, editor; Cambridge University Press, 1998. [WP No. PB96-04](http://ksghome.harvard.edu/~jfrankel/pacificbasinexplanation.htm), Fed.Res.Bk. of San Francisco.. "Trading Blocs and the Americas: The Natural, the Unnatural, and the Super-Natural" (with E. Stein and S.J.Wei), full version, CIDER Working Paper No. C94-034. Abridged version, [*Journal of Development Economics*](http://www.elsevier.nl/homepage/sae/econbase/devec/menu.sht) 47, no. 1, June 1995, 61-95. "Lessons from the Mexican Crisis," presented at CFR, April 1995; Federal Reserve System Meeting, Washington, D.C., April; and the Fed.Res.Bk.of Atlanta's Financial Markets conference, Coral Gables, March 1995. ["The 'Obvious Peso Blunder' at Treasury," testimony before Committee on Banking, Finance and Urban Affairs, U.S. Senate, March 9, 1995.](http://ksghome.harvard.edu/~jfrankel/MEXDEVAL2-27-95.rtf) See also:- [ Latin America ](/latin-america-terms/latin-america)