Was This Time Different? Fiscal Policy in Commodity Republics
---- Acknowledgements ----
We are grateful to Yan Carriere, Juan Matamala and Sergio Salgado for excellent research assistantship and to Cristian Muñoz for data collection. We are also grateful to Luis Catao for sharing his data with us. We thank Guillermo Calvo, Choongsoo Kim, Harald Uhlig and three anonymous referees for very useful comments and suggestions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.