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Author : Lorenzo Forni
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.X/5 (4 download)
Download or read book Cyclical Sensitivity of Fiscal Policies Based on Real-time Data written by Lorenzo Forni and published by . This book was released on 2004 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Alexander Klemm
Publisher : International Monetary Fund
ISBN 13 : 1475516444
Total Pages : 32 pages
Book Rating : 4.4/5 (755 download)
Download or read book Fiscal Policy in Latin America over the Cycle written by Mr.Alexander Klemm and published by International Monetary Fund. This book was released on 2014-04-16 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an analysis of the cyclical stance of fiscal policy in Latin America. Its contributions include developing a new measure of the cyclicality of fiscal policy, careful analysis of the statistical significance of results, and accounting for the effect of commodity prices on fiscal balances. The new cyclicality measure takes into account both discretionary policy action and automatic stabilizers, but excludes additional revenues that are due to applying an unchanged average tax rate to nominal GDP in excess of potential. The paper finds that fiscal policy has been procyclical on average in Latin America, but counter or acyclical in advanced economies. Country-specific results are mostly insignificant, except in a few cases where policy is clearly procyclical. For some countries (Brazil, Chile, Colombia, El Salvador, and Mexico), there is evidence of a recent move toward more countercyclical policies.
Author : Vitor Gaspar
Publisher : International Monetary Fund
ISBN 13 : 1475589522
Total Pages : 548 pages
Book Rating : 4.4/5 (755 download)
Download or read book Fiscal Politics written by Vitor Gaspar and published by International Monetary Fund. This book was released on 2017-04-07 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.
Author : Roberto Golinelli
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.X/5 (3 download)
Download or read book Real-time Determinants of Fiscal Policies in the Euro Area written by Roberto Golinelli and published by . This book was released on 2006 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Dora M. Iakova
Publisher : International Monetary Fund
ISBN 13 : 1484301544
Total Pages : 270 pages
Book Rating : 4.4/5 (843 download)
Download or read book Latin America written by Ms.Dora M. Iakova and published by International Monetary Fund. This book was released on 2014-12-23 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years countries in Latin America made tremendous progress in strengthening their economies and improving living standards. Although output fell temporarily during the global financial crisis, most economies staged a rapid recovery. However, economic activity across the region has been cooling off and the region is facing a more challenging period ahead. This book argues that Latin America can rise to the challenge, and policymakers in the region are already implementing reforms in education, energy, and other sectors. More is needed, and more is possible, in Latin America’s quest to continue to improve living standards.
Author : Luc Eyraud
Publisher : International Monetary Fund
ISBN 13 : 1475578032
Total Pages : 44 pages
Book Rating : 4.4/5 (755 download)
Download or read book Fiscal Politics in the Euro Area written by Luc Eyraud and published by International Monetary Fund. This book was released on 2017-02-10 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries participating in the euro area over 1999–2015. We look for, but do not find, conclusive evidence of bias in procedures in relation to country size. The paper also briefly reviews the literature on political economy factors and policy biases, and offers some reflections on the euro area architecture.
Author : Ľudovít Ódor
Publisher : Cambridge University Press
ISBN 13 : 1108339484
Total Pages : 615 pages
Book Rating : 4.1/5 (83 download)
Download or read book Rethinking Fiscal Policy after the Crisis written by Ľudovít Ódor and published by Cambridge University Press. This book was released on 2017-05-18 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the often overlooked future of fiscal policy in light of what we have learned from the financial crisis. This book is for academics and graduate students studying the debate on fiscal policy, as well as practitioners working on day-to-day policy issues.
Author : Mr.Serhan Cevik
Publisher : International Monetary Fund
ISBN 13 : 1475516118
Total Pages : 40 pages
Book Rating : 4.4/5 (755 download)
Download or read book Deep Roots of Fiscal Behavior written by Mr.Serhan Cevik and published by International Monetary Fund. This book was released on 2014-03-12 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of fiscal policy behavior and its time-varying volatility, using panel data for a broad set of advanced and emerging market economies during the period 1990–2012. The empirical results show that discretionary fiscal policy is influenced by policy inertia, the level of public debt, and the output gap in both advanced and emerging market economies. In addition, the paper finds that macro-financial factors—such as real exchange rate, financial development, interest rates, asset prices, and natural resource rents—and demographic and institutional factors—such as the old-age dependency ratio, the quality of institutions, and policy anchors such as fiscal rules and IMF-supported stabilization programs—tend to have a significant effect on fiscal policy behavior. The results also indicate that higher government debt leads to more volatile fiscal behavior, while fiscal rules and higher institutional quality reduce the volatility of fiscal policy over time.
Author : Roberto Golinelli
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)
Download or read book The Cyclical Response of Fiscal Policies in the Euro Area written by Roberto Golinelli and published by . This book was released on 2008 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Georges De Menil
Publisher : John Wiley & Sons
ISBN 13 : 144430724X
Total Pages : 256 pages
Book Rating : 4.4/5 (443 download)
Download or read book Economic Policy 56 written by Georges De Menil and published by John Wiley & Sons. This book was released on 2009-04-20 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top economists provide a concise and accessible evaluation of majordevelopments in trade and trade policy. Economic Policy has earned a reputation around the worldas the one publication that always identifies current and emergingpolicy topics early Papers are specially commissioned from first-class economistsand experts in the policy field The editors are all based at top European economic institutionsand each paper is discussed by a panel of distinguishedeconomists This unique approach guarantees incisive debate and alternativeinterpretations of the evidence
Author : Martin Larch
Publisher : Routledge
ISBN 13 : 1135234949
Total Pages : 219 pages
Book Rating : 4.1/5 (352 download)
Download or read book Fiscal Policy Making in the European Union written by Martin Larch and published by Routledge. This book was released on 2009-12-16 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: ""Fiscal policy making in the European Union is a national prerogative that is carried out and co-ordinated within the remits of the Stability and Growth Pact (SGP). The SGP Member States have agreed upon a rules-based framework which, abstracting from operational details, aims to ensure long-term sustainability of public finances while allowing for short-term fiscal stabilization. The success of the EU fiscal framework depends to a large extent on the effectiveness and accuracy of the tool-kit of indicators and methods used at the EU level to monitor and assess the fiscal performance of the Member States vis-a-vis the requirements of the SGP. The contributions to this volume examine key aspects of the measurement of fiscal policy making in the context of the EU fiscal surveillance framework. They highlight strengths and weaknesses of current assessment practice, including innovations implied by the 2005 revision of the SGP." "--Jacket.
Author : Mr.Paolo Mauro
Publisher : International Monetary Fund
ISBN 13 : 1616358777
Total Pages : 53 pages
Book Rating : 4.6/5 (163 download)
Download or read book A Modern History of Fiscal Prudence and Profligacy written by Mr.Paolo Mauro and published by International Monetary Fund. This book was released on 2013-01-09 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We draw on a newly collected historical dataset of fiscal variables for a large panel of countries—to our knowledge, the most comprehensive database currently available—to gauge the degree of fiscal prudence or profligacy for each country over the past several decades. Specifically, our dataset consists of fiscal revenues, primary expenditures, the interest bill (and thus both the primary and the overall fiscal deficit), the government debt, and gross domestic product, for 55 countries for up to two hundred years. For the first time, a large cross country historical data set covers both fiscal stocks and flows. Using Bohn’s (1998) approach and other tests for fiscal sustainability, we document how the degree of prudence or profligacy varies significantly over time within individual countries. We find that such variation is driven in part by unexpected changes in potential economic growth and sovereign borrowing costs.
Author : Mr.Serhan Cevik
Publisher : International Monetary Fund
ISBN 13 : 1513526367
Total Pages : 19 pages
Book Rating : 4.5/5 (135 download)
Download or read book Riding the Storm: Fiscal Sustainability in the Caribbean written by Mr.Serhan Cevik and published by International Monetary Fund. This book was released on 2020-01-31 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries during the period 1980–2018. The results indicate that the coefficient on lagged government debt is positive and statistically significant, implying that fiscal policy in the Caribbean takes corrective actions to counteract an increase in the debt-to-GDP ratio. Nonlinear estimations, however, show that the quadratic debt parameter is negative, which indicates that fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance tends to be countercyclical on average during the sample period. These empirical results confirm that maintaining prudent fiscal policies and implementing growth-enhancing structural reforms are necessary to build fiscal buffers and ensure debt sustainability with high probability even when negative shocks occur over the long term.
Author : Georges De Menil
Publisher : John Wiley & Sons
ISBN 13 : 1405189193
Total Pages : 212 pages
Book Rating : 4.4/5 (51 download)
Download or read book Economic Policy 60 written by Georges De Menil and published by John Wiley & Sons. This book was released on 2009-12-02 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top economists provide a concise and accessible evaluation of major developments in trade and trade policy. Economic Policy has earned a reputation around the world as the one publication that always identifies current and emerging policy topics early Papers are specially commissioned from first-class economists and experts in the policy field The editors are all based at top European economic institutions and each paper is discussed by a panel of distinguished economists This unique approach guarantees incisive debate and alternative interpretations of the evidence
Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author : Alberto Alesina
Publisher : University of Chicago Press
ISBN 13 : 022601844X
Total Pages : 596 pages
Book Rating : 4.2/5 (26 download)
Download or read book Fiscal Policy after the Financial Crisis written by Alberto Alesina and published by University of Chicago Press. This book was released on 2013-06-25 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.
Author : Fabrizio Balassone
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.X/5 (4 download)
Download or read book Cyclical Asymmetry in Fiscal Policy written by Fabrizio Balassone and published by . This book was released on 2004 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
