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From Stimulus To Consolidation
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Book Synopsis From Stimulus to Consolidation by : Mr.Benedict J. Clements
Download or read book From Stimulus to Consolidation written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2010-10-06 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies policy tools that could be used for fiscal consolidation in advanced and emerging economies in the years ahead. The consolidation strategy, particularly in advanced countries, should aim to stabilize age-related spending in relation to GDP, reduce non-age-related expenditure ratios, and increase revenues. Bold reforms are needed to offset projected increases in age-related spending, particularly health care. On the revenue side, measures could include improving tax compliance, for example through better international cooperation, as well as increasing the yield from VAT by eliminating exemptions and reduced rates, further developing property taxes, and increasing excise rates within the range of rates already applicable in comparable countries.
Book Synopsis From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies by : International Monetary Fund. Finance Dept.
Download or read book From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-06-07 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review marks the 10th anniversary of the safeguards policy. Introduced in March 2000, the policy’s main objective is to mitigate potential risks of misuse of resources, including Fund resources, and misreporting of monetary program data. The policy was last reviewed in 2005, when the Executive Board re-affirmed the effectiveness of the policy, and its application to central banks. In keeping with previous reviews, a panel of experts was invited to provide advice for the Executive Board on the implementation of the policy, and recommendations to guide the focus and application of the policy going forward.
Book Synopsis The Economic Effects of Fiscal Consolidation with Debt Feedback by : Mr.Marcello M. Estevão
Download or read book The Economic Effects of Fiscal Consolidation with Debt Feedback written by Mr.Marcello M. Estevão and published by International Monetary Fund. This book was released on 2013-05-31 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for fiscal consolidation. To evaluate the delicate balance between stimulus and consolidation requires measuring the size of fiscal multipliers, which often depends on having quarterly data so that exogenous fiscal policy shocks can be identified. We estimate fiscal multipliers using a novel methodology for identifying fiscal shocks within a structural vector autoregressive approach using annual data while controling for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and uses results for advanced economies, emerging market countries, and other broad groupings for which alternative estimates are available to validate the methodology. Differently from advanced and emerging market economies, fiscal consolidation in low-income countries has only a small temporary negative effect on growth while raising medium-term output. Shifting the composition of public spending toward capital expenditure further supports long-run growth.
Book Synopsis Stimulus and Fiscal Consolidation: The Evidence and Implications by : Dean Baker
Download or read book Stimulus and Fiscal Consolidation: The Evidence and Implications written by Dean Baker and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Delaying Fiscal Consolidation Affects the Present Value of GDP by : Mr.Kevin Fletcher
Download or read book How Delaying Fiscal Consolidation Affects the Present Value of GDP written by Mr.Kevin Fletcher and published by International Monetary Fund. This book was released on 2015-03-05 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a simple model to examine the conditions under which delaying fiscal consolidation can affect the present value of GDP via the fiscal stance’s effects on the output gap and hysteresis. We find that the absolute size of the fiscal multiplier—the focus of much empirical investigation and policy debate—is likely inconsequential in this regard. Rather, what matters is the degree to which the multiplier during the initial period of fiscal stimulus differs from the multiplier when the stimulus is withdrawn. If the multiplier is constant over time, delaying consolidation is unlikely to significantly boost the present value of GDP via effects on the output gap and hysteresis. The potential success of such efforts relies instead on exploiting time-variation in multipliers.
Book Synopsis Strategies for Fiscal Consolidation in the Post-Crisis World by : Mr.Mauricio Villafuerte
Download or read book Strategies for Fiscal Consolidation in the Post-Crisis World written by Mr.Mauricio Villafuerte and published by International Monetary Fund. This book was released on 2010-09-17 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the global financial crisis, governments provided substantial support to the financial and other key sectors. Although this cushioned the adverse effects of the crisis, it is necessary now to articulate a strategy to ensure the sustainability of public finances. This paper discusses the scale and composition of fiscal adjustment that will need to occur once the recovery is securely under way. Although specific country-level circumstances will influence the composition of the adjustment and its political feasibility, in many cases restoring fiscal sustainability will require reforms to reduce spending and increase tax revenue.
Book Synopsis National Fiscal Stimulus Packages and Consolidation Strategies in a Monetary Union by : Christoph Bierbrauer
Download or read book National Fiscal Stimulus Packages and Consolidation Strategies in a Monetary Union written by Christoph Bierbrauer and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Consolidating the Recovery by : World Bank
Download or read book Consolidating the Recovery written by World Bank and published by World Bank Publications. This book was released on 2022-04-07 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Latin America and the Caribbean region is consolidating its recovery from the COVID†?19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require redress; new variants may appear; rising global inflation presents new policy dilemmas; and the long†?standing reform agenda needed to lay the foundations for renewed and inclusive growth remains pending. Further, the global context is evolving rapidly. Over the medium term, the tragedy unfolding in Ukraine will affect the region through unpredictable channels. Over the longer term, increased global alarm over the pace of climate change raises new policy issues. The region’s contribution to greenhouse gases is modest and can be reduced, but the impact of climate change on its people and productive sectors will require significant adaptation. The good news is that LAC’s unique endowments positions it well to seize emerging green growth opportunities if well†?managed. A key message is that improving the region’s capability to adapt and innovate needs to be placed at the center of both the growth and greening agendas and can generate synergies between them.
Book Synopsis Public Financial Management and Its Emerging Architecture by : Mr. M. Cangiano
Download or read book Public Financial Management and Its Emerging Architecture written by Mr. M. Cangiano and published by International Monetary Fund. This book was released on 2013-04-05 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
Book Synopsis A New Action-Based Dataset of Fiscal Consolidation by : Mr.Daniel Leigh
Download or read book A New Action-Based Dataset of Fiscal Consolidation written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-06-01 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including Budgets, Budget Speeches, central bank reports, Convergence and Stability Programs submitted by the authorities to the European Commission, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.
Book Synopsis Neural Plasticity and Memory by : Federico Bermudez-Rattoni
Download or read book Neural Plasticity and Memory written by Federico Bermudez-Rattoni and published by CRC Press. This book was released on 2007-04-17 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, multidisciplinary review, Neural Plasticity and Memory: From Genes to Brain Imaging provides an in-depth, up-to-date analysis of the study of the neurobiology of memory. Leading specialists share their scientific experience in the field, covering a wide range of topics where molecular, genetic, behavioral, and brain imaging techniq
Book Synopsis Fiscal Regimes for Extractive Industries—Design and Implementation by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Fiscal Regimes for Extractive Industries—Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
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 Expansionary Austerity New International Evidence by : Mr.Daniel Leigh
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Book Synopsis Methods of Behavior Analysis in Neuroscience by : Jerry J. Buccafusco
Download or read book Methods of Behavior Analysis in Neuroscience written by Jerry J. Buccafusco and published by CRC Press. This book was released on 2000-08-29 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the most well-studied behavioral analyses of animal subjects to promote a better understanding of the effects of disease and the effects of new therapeutic treatments on human cognition, Methods of Behavior Analysis in Neuroscience provides a reference manual for molecular and cellular research scientists in both academia and the pharmaceutic
Book Synopsis Memory Consolidation by : H. Weingartner
Download or read book Memory Consolidation written by H. Weingartner and published by Psychology Press. This book was released on 2014-03-18 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1984. This volume was organized for students of human memory and related cognitive processes. The issues deal not only with memory in unimpaired individuals, but also with impaired patients and with consolidation in lower animals. The chapters in this volume demonstrate that consolidation is a flourishing and controversial concept in memory research today. More than ten years after the seminal book of M cGaugh and Herz, questions about consolidation are re-examined in light of current models of human memory, its pathology, and its modulation by drugs.
Book Synopsis Post-crisis Fiscal Policy by : Carlo Cottarelli
Download or read book Post-crisis Fiscal Policy written by Carlo Cottarelli and published by MIT Press. This book was released on 2014-06-27 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research and analysis underpinning the IMF's position on the evolving role of fiscal policy in both advanced and emerging economics. Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appropriate response to fluctuations in economic activity. Since then, the IMF has emphasized that the speed of fiscal adjustment should be determined by the specific circumstances in each country. Its recommendation that deficit reduction proceed steadily, but gradually, positions the IMF between the fiscal doves (who argue for postponing fiscal adjustment altogether) and the fiscal hawks (who argue for a front-loaded adjustment). This volume brings together the analysis underpinning the IMF's position on the evolving role of fiscal policy. After establishing its analytical foundation, with chapters on such topics as fiscal risk and debt dynamics, the book analyzes the buildup of fiscal vulnerabilities before the crisis, presents the policy response during the crisis, discusses the fiscal outlook and policy challenges ahead, and offers lessons learned from the crisis and its aftermath. Topics discussed include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool; coordination of fiscal and monetary policies; the sovereign debt crisis in Europe; and institutional reform aimed at fostering fiscal discipline. Contributors Ali Abbas, Nate Arnold, Aqib Aslam, Thomas Baunsgaard, Nazim Belhocine, Dora Benedek, Carlo Cottarelli, Petra Dacheva, Mark De Broeck, Xavier Debrun, Asmaa ElGanainy, Julio Escolano, Lorenzo Forni, Philip Gerson, Borja Gracia,, Martine Guerguil, Alejandro Guerson, Laura Jaramillo, Jiri Jonas, Mika Kortelainen, Manmohan Kumar, Suchitra, Kumarapathy, Douglas Laxton, Pablo Lopez-Murphy, Thornton Matheson, Jimmy McHugh, Uffe Mikkelsen, Kyung-Seol Min, Aiko Mineshima, Marialuz Moreno, John Norregaard, Ceyla Pazarbasioglu, Iva Petrova, Tigran Poghosyan, Marcos Poplawski-Ribeiro, Anna Shabunina, Andrea Schaechter, Jack Selody, Abdelhak Senhadji, Baoping Shang, Mauricio Soto, Bruno Versailles, Anke Weber, Jaejoon Woo, Li Zeng
