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    • Chile’s fiscal rule as social insurance 

      Engel Goetz, Eduardo; Neilson, Christopher; Valdés Inostroza, Rodrigo (Banco Central de Chile, 2011)
      We explore the role of fiscal policy over the business cycle from a normative perspective, for a government with a highly volatile and exogenous revenue source. Instead of resorting to Keynesian mechanisms, in our framework ...