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Fiscal Policy in Latin America and the European Union Carlos Vegh Johns Hopkins (SAIS) and Brookings Guillermo Vuletin Brookings Brookings Institution,

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Presentation on theme: "Fiscal Policy in Latin America and the European Union Carlos Vegh Johns Hopkins (SAIS) and Brookings Guillermo Vuletin Brookings Brookings Institution,"— Presentation transcript:

1 Fiscal Policy in Latin America and the European Union Carlos Vegh Johns Hopkins (SAIS) and Brookings Guillermo Vuletin Brookings Brookings Institution, October 8, 2013

2 Graduation in developing countries Before After

3 Graduation in Latin American countries Before (av.=0.30) After (av.=0.17)

4 Who graduated and who did not

5 Greece

6 Food for thought Many LA governments still fail to save enough in good times … What will happen when the good times end? Eurozone countries’ fiscal contraction in bad times: repeating LA’s past mistakes or unavoidable, “market-driven,” adjustment? Role of IMF: can lending in bad times be tied to behavior in good times?

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