Engel, EduardoNeilson M., ChristopherValdés, Rodrigo2019-11-012019-11-012013978-956-7421-37-4https://hdl.handle.net/20.500.12580/3791Well before the Great Recession of 2009 put fiscal policy debates in the front burner commodity-exporting countries had to deal with important fiscal policy dilemmas stemming from revenue volatility and eventual depletion. Chilean policymakers have been at the forefront in this area since adopting a fiscal rule to guide government spending decisions a decade ago. This so-called structural balance rule (SBR) incorporates fluctuations in copper prices—the main source of volatility in fiscal revenues—and was instrumental in saving a large part of the windfall during the commodity boom of 2005–08. When the country went into recession in 2009 however the rule was essentially abandoned as authorities implemented a fiscal expansion beyond that suggested by the SBR..pdfSección o Parte de un Documentop. 393-425engAttribution-NonCommercial-NoDerivs 3.0 ChilePOLÍTICA FISCALCRISIS ECONÓMICA 2008PRODUCTOS BÁSICOSArtículo