CEPAL Review no. 124

CEPAL Review N° 124 • April 2018 229
3. Compilation of the sustainability
model for the Chilean economy
The variation in net debt, separating FRP from government assets, is described as follows:
FRP is separated from other government assets through its pre-established accumulation and
disbursement rules. Contributions to FRP are expressed by the following formula:
So the variation in FRP after 2016 is defined as:
In view of the above, debt as a percentage of GDP is defined as:
(A10)
and the variation in the debt as a percentage of GDP is given by:
(A11)
Following the decomposition of Ley (2010), the following interest and inflation rates are defined:
So the nominal interest rate and inflation are described as follows:
Mauricio G. Villena, Cristóbal Gamboni and Andrés Tomaselli