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Case Studies Of Fiscal Councils Functions And Impact
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Book Synopsis Case Studies of Fiscal Councils - Functions and Impact by : International Monetary Fund
Download or read book Case Studies of Fiscal Councils - Functions and Impact written by International Monetary Fund and published by International Monetary Fund. This book was released on 2013-07-16 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement presents case studies of seven fiscal councils and examines how each council performs its core functions and if and how it impacts on the fiscal policy debate. The seven fiscal councils are: Belgium (Conseil Supérieur des Finances—HCF), Canada (Parliamentary Budget Officer—PBO), Hungary (Költségvetési Tanács), Korea (National Assembly Budget Office—NABO), the Netherlands (Centraal Planbureau—CPB), Sweden (Finanspolitiska rådet), and the United States (Congressional Budget Office-CBO). The main paper presents the comparative lessons and the general findings of this study based on a systematic comparison of these fiscal councils’ experiences. This supplement discusses in detail each individual fiscal council’s experiences.
Book Synopsis The Functions and Impact of Fiscal Councils by : International Monetary Fund
Download or read book The Functions and Impact of Fiscal Councils written by International Monetary Fund and published by International Monetary Fund. This book was released on 2013-07-16 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, a rapidly growing number of countries have established independent agencies aimed at promoting sound fiscal policies. Although these institutions vary greatly in terms of their remit, tasks, and institutional forms, they tend to share an explicit mandate enshrined in legislation, a “watchdog” role implying a direct contribution to the public debate on fiscal policy, and strict non-partisanship in their activities. Importantly, fiscal councils do not have the discretion to set policy instruments. Unlike independent central banks in the monetary policy area, they are only facilitators of sound fiscal public finances, not decision makers deliberately insulated from politics. Earlier IMF staff analysis of non-partisan fiscal agencies (IMF, 2005, expanded by Debrun, Hauner and Kumar, 2009) referred to the generic term of “fiscal council” to designate these institutions. A handful of similar bodies have been in place for a long time—mostly in advanced economies.
Book Synopsis Independent Fiscal Councils: Recent Trends and Performance by : Mr.Roel M. W. J. Beetsma
Download or read book Independent Fiscal Councils: Recent Trends and Performance written by Mr.Roel M. W. J. Beetsma and published by International Monetary Fund. This book was released on 2018-03-23 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries increasingly rely on independent fiscal councils to constrain policymakers’ discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the latest (2016) vintage of the IMF Fiscal Council Dataset, we focus on two tasks expected to strengthen fiscal performance: the preparation or assessment of forecasts, and the monitoring of compliance with fiscal rules. Tentative econometric evidence suggests that the presence of a fiscal council is associated with more accurate and less optimistic fiscal forecasts, as well as greater compliance with fiscal rules.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Book Synopsis Guidelines for Public Debt Management -- Amended by : International Monetary Fund
Download or read book Guidelines for Public Debt Management -- Amended written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-09-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis 2014 Triennial Surveillance Review - External Study - Structural Policies in Fund Surveillance by : International Monetary Fund
Download or read book 2014 Triennial Surveillance Review - External Study - Structural Policies in Fund Surveillance written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-30 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Book Synopsis Fiscal Councils by : Mr.Roel M. W. J. Beetsma
Download or read book Fiscal Councils written by Mr.Roel M. W. J. Beetsma and published by International Monetary Fund. This book was released on 2016-04-08 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper discusses the effectiveness of independent fiscal institutions—or fiscal councils—in taming the deficit bias that emerged in the 1970s. After a review of the main theoretical arguments and recent trends about fiscal councils, we develop a stylized model showing how a fiscal council can effectively mitigate the deficit bias even though it has no direct lever on the conduct of fiscal policy. We show that the capacity of the fiscal council to improve the public’s understanding of the quality of fiscal policy contributes to better align voters and policymakers’ incentives and to tame the deficit bias affecting well-intended governments. After mapping the model’s key features into a broad set of criteria likely to contribute to the effectiveness of a fiscal council, we use the 2014 vintage of the IMF dataset on independent fiscal institutions to assess whether existing institutions have been built to work.
Book Synopsis Fiscal Rules—Anchoring Expectations for Sustainable Public Finances by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Fiscal Rules—Anchoring Expectations for Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2009-12-11 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
Book Synopsis Republic of Armenia by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Republic of Armenia written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-05-15 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents Fiscal Transparency Evaluation (FTE) for Armenia. This report provides 10 recommendations aimed at further enhancing fiscal transparency in the areas prioritized. Fiscal forecasts and budgets have become more forward looking and policy oriented, with the introduction of a medium-term expenditure framework (MTEF), improved fiscal objectives, and a performance budgeting system. The report presents the assessment of fiscal transparency practices against the IMF’s Fiscal Transparency Code (FTC). Armenia’s fiscal transparency practices have strengths and weaknesses in all areas of FTC: fiscal reporting, fiscal forecasting and budgeting, and fiscal risk disclosure and management. The fiscal transparency evaluation also estimates Armenia’s public sector financial position, in order to provide a more comprehensive view of public finances. Expanding the institutional coverage of Armenia’s fiscal reports to the entire public sector would increase the deficit by 1.3 percent of gross domestic product and would have a material impact on revenue and expenditure.
Book Synopsis Second-Generation Fiscal Rules by : Luc Eyraud
Download or read book Second-Generation Fiscal Rules written by Luc Eyraud and published by International Monetary Fund. This book was released on 2018-04-13 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog
Book Synopsis Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design by : Vybhavi Balasundharam
Download or read book Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design written by Vybhavi Balasundharam and published by International Monetary Fund. This book was released on 2023-03-17 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal Consolidation: Taking Stock of Success Factors, Impact, and Design
Book Synopsis OECD Economic Surveys: Czech Republic 2014 by : OECD
Download or read book OECD Economic Surveys: Czech Republic 2014 written by OECD and published by OECD Publishing. This book was released on 2014-03-18 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: OECD's 2014 review of the economy of the Czech Republic examines recent economic developments, prospects and policies. Special chapters cover completing the transition to a competitive domestic economy and strengthening skill use and school-to-work transitions.
Book Synopsis The New Americans by : National Research Council
Download or read book The New Americans written by National Research Council and published by National Academies Press. This book was released on 1997-11-14 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on one of the most controversial issues of the decade. It identifies the economic gains and losses from immigrationâ€"for the nation, states, and local areasâ€"and provides a foundation for public discussion and policymaking. Three key questions are explored: What is the influence of immigration on the overall economy, especially national and regional labor markets? What are the overall effects of immigration on federal, state, and local government budgets? What effects will immigration have on the future size and makeup of the nation's population over the next 50 years? The New Americans examines what immigrants gain by coming to the United States and what they contribute to the country, the skills of immigrants and those of native-born Americans, the experiences of immigrant women and other groups, and much more. It offers examples of how to measure the impact of immigration on government revenues and expendituresâ€"estimating one year's fiscal impact in California, New Jersey, and the United States and projecting the long-run fiscal effects on government revenues and expenditures. Also included is background information on immigration policies and practices and data on where immigrants come from, what they do in America, and how they will change the nation's social fabric in the decades to come.
Book Synopsis OECD Economic Surveys: Hungary 2014 by : OECD
Download or read book OECD Economic Surveys: Hungary 2014 written by OECD and published by OECD Publishing. This book was released on 2014-01-27 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: OECD's 2014 Economic Survey of Hungary examines recent economic developments, prospects and policies. Special chapters examine enhancing competition and tackling labour mismatches.
Book Synopsis The Politics of Public Money by : David A. Good
Download or read book The Politics of Public Money written by David A. Good and published by University of Toronto Press. This book was released on 2014-01-01 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: David A. Good's The Politics of Public Money examines the extent to which the Canadian federal budgetary process is shifting from one based on a bilateral relationship between departmental spenders and central guardians to one based on a more complex, multilateral relationship involving a variety of players.
Book Synopsis Can Abenomics Succeed? by : Mr.Dennis P. J. Botman
Download or read book Can Abenomics Succeed? written by Mr.Dennis P. J. Botman and published by International Monetary Fund. This book was released on 2015-04-06 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan’s revitalization plan, dubbed the “three arrows of Abenomics,” devises a three-pronged strategy—combining fiscal, monetary, and structural policies—to overcome that country’s apparent inability to sustain economic recovery. This book is the first comprehensive assessment of Abenomics and the reforms needed to make it a success, including aggressive monetary easing, growth-friendly fiscal consolidation, and structural and financial sector reforms.
Book Synopsis Local Fiscal Effects of Illegal Immigration by : National Research Council
Download or read book Local Fiscal Effects of Illegal Immigration written by National Research Council and published by National Academies Press. This book was released on 1996-11-25 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent level of illegal immigration to the United States has increased debates about the effect of these immigrants on the cost of public services, and states have begun to enact policies that limit the public services available to illegal immigrants. The central issues are how many illegal immigrants reside in particular local areas and states and their effect on public expenditures and revenues and the economy in general. The Local Fiscal Effects of Illegal Immigration workshop selected six studies for analysis. The six case studies focused on one specific aspect of the complex question of the demographic, economic, and social effects of immigration: the net public services costs of illegal immigrants to selected geographical regions.
