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Fiscal Adjustments In Oecd Countries
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Book Synopsis Fiscal Adjustments in OECD Countries by : Mr.Alberto Alesina
Download or read book Fiscal Adjustments in OECD Countries written by Mr.Alberto Alesina and published by International Monetary Fund. This book was released on 1996-07-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary. We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Book Synopsis Fiscal Adjustments in OECD Countries by : Alberto F. Alesina
Download or read book Fiscal Adjustments in OECD Countries written by Alberto F. Alesina and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how the composition of fiscal adjustments influences their likelihood of quot;successquot;, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary.We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Book Synopsis Fiscal Expansions and Fiscal Adjustments in OECD Countries by : Alberto Alesina
Download or read book Fiscal Expansions and Fiscal Adjustments in OECD Countries written by Alberto Alesina and published by . This book was released on 1995 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers budget expansions and adjustments in OECD countries in the last three decades. Our main results are: i) on average fiscal expansions are the results of increases in expenditures, particularly of transfer programs, while contractions are typically due to tax increases; ii) however successful (i.e. long lasting), a minority of the total rely primarily on reduction of government wages and employment and cuts in transfer programs; iii) even major successful fiscal adjustments do not seem to have recessionary consequences, on average; iv) different types of governments show different degrees of success at implementing successful fiscal adjustment, with coalition governments showing the worst performance.
Book Synopsis Fiscal Adjustments in Transition Economies by : Barbara Fakin
Download or read book Fiscal Adjustments in Transition Economies written by Barbara Fakin and published by World Bank Publications. This book was released on 1997 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal Adjustment in OECD Countries by : Alberto Alesina
Download or read book Fiscal Adjustment in OECD Countries written by Alberto Alesina and published by . This book was released on 1996 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal Adjustments by : Daniel Leigh
Download or read book Fiscal Adjustments written by Daniel Leigh and published by International Monetary Fund. This book was released on 2007-07 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the determinants of success of recent fiscal consolidations in the OECD countries as well as the short-run and long-run effects of fiscal adjustments on economic activity by looking at fourteen case studies, panel data for OECD countries, and the results of simulations using a non-Ricardian multi-country dynamic general equilibrium model. The study finds that while fiscal consolidations tend to have short-run contractionary effects, they can be expansionary in the long run, provided that they do not rely excessively on cuts in productive government expenditure. They can also create positive spillover effects for the rest of the world.
Book Synopsis An Empirical Analysis of Fiscal Adjustments by : Mr.C. John McDermott
Download or read book An Empirical Analysis of Fiscal Adjustments written by Mr.C. John McDermott and published by International Monetary Fund. This book was released on 1996-06-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study uses the fiscal expansion and consolidation experiences of the industrial countries over the period 1970 to 1995 to examine the interplay between fiscal adjustments and economic performance. A key finding is that fiscal consolidation need not trigger an economic slowdown. Fiscal consolidation that concentrates on the expenditure side, and especially on transfers and government wages, is more likely to succeed in reducing the public debt ratio than tax-based consolidation. Also, the greater the magnitude of the fiscal consolidation, the more likely it is to succeed in reducing the debt ratio.
Book Synopsis The Short-run Effects of Fiscal Adjustment in OECD Countries by : Georgios Georgantas
Download or read book The Short-run Effects of Fiscal Adjustment in OECD Countries written by Georgios Georgantas and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Institutions and Fiscal Adjustments by : Athanasios Tagkalakis
Download or read book Institutions and Fiscal Adjustments written by Athanasios Tagkalakis and published by . This book was released on 2007 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the factors that determine the likelihood to initiate a fiscal adjustment, as well as the determinants of successful fiscal adjustments in a set of OECD countries. Its focus is different relative to previous studies, because it investigates the role played by labor and product market institutions. The study finds that while factors such as bad initial budgetary conditions, exchange rate depreciation, and the size and composition effects of the fiscal adjustment play an important role, institutional characteristics of the labor and product markets affect in a significant manner the decision of a government to initiate a fiscal consolidation program, and the likelihood that this program will be successful. This finding becomes particularly relevant in view of the challenges faced by many countries, which strive to achieve lasting improvements in their budgetary positions, while at the same time they have to put forward ambitious structural reforms programs to enhance their potential growth performance and to improve the functioning of the internal market.
Book Synopsis Large changes in fiscal policy : taxes versus spending by : Alberto Alesina
Download or read book Large changes in fiscal policy : taxes versus spending written by Alberto Alesina and published by . This book was released on 2009 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the evidence on episodes of large stances in fiscal policy, both in cases of fiscal stimuli and in that of fiscal adjustments in OECD countries from 1970 to 2007. Fiscal stimuli based upon tax cuts are more likely to increase growth than those based upon spending increases. As for fiscal adjustments, those based upon spending cuts and no tax increases are more likely to reduce deficits and debt over GDP ratios than those based upon tax increases. In addition, adjustments on the spending side rather than on the tax side are less likely to create recessions. We confirm these results with simple regression analysis.
Book Synopsis Macroeconomic Effects of Fiscal Adjustment: A Tale of Two Approaches by : Weonho Yang
Download or read book Macroeconomic Effects of Fiscal Adjustment: A Tale of Two Approaches written by Weonho Yang and published by . This book was released on 2013 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Taxing Wages 2021 written by OECD and published by OECD Publishing. This book was released on 2021-04-29 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: This annual publication provides details of taxes paid on wages in OECD countries. It covers personal income taxes and social security contributions paid by employees, social security contributions and payroll taxes paid by employers, and cash benefits received by workers. Taxing Wages 2021 includes a special feature entitled: “Impact of COVID-19 on the Tax Wedge in OECD Countries”.
Book Synopsis Fiscal Adjustment and the Costs of Public Debt Service by : Christoph A. Schaltegger
Download or read book Fiscal Adjustment and the Costs of Public Debt Service written by Christoph A. Schaltegger and published by . This book was released on 2010 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal Discipline and the Cost of Public Debt Service by : Mr.Francesco Caselli
Download or read book Fiscal Discipline and the Cost of Public Debt Service written by Mr.Francesco Caselli and published by International Monetary Fund. This book was released on 1998-04-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is there any systematic explanation of variations in the cost of debt servicing over time and across countries? This paper examines the influence of fiscal variables on borrowing costs in a panel of OECD countries, showing that these variables have a significant role. In particular, an improvement of the primary fiscal balance is associated with a significant reduction in debt-servicing costs, amplifying the effects of primary adjustment on the fiscal position. A significant country-specific component remains, however; several explanations for this component are discussed, including debt management and market infrastructure.
Book Synopsis Fiscal Adjustments in Transition Economies Transfers and the Efficiency of Public Spending by : Barbara Fakin
Download or read book Fiscal Adjustments in Transition Economies Transfers and the Efficiency of Public Spending written by Barbara Fakin and published by . This book was released on 2016 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social security contributions and outlays in the economies of Central Europe do not differ much from those in the OECD countries, so experience in the OECD countries is relevant to them. The main problem: Loose eligibility criteria that allow too much pension money to go to early retirees. Despite a dramatic shift away from subsidies in the early years of transition, the countries of Central Europe still show signs of unsuccessful fiscal adjustment, insufficient deficit reduction, and loose spending policy. High social transfers and low efficiency of government spending remain two challenges of fiscal adjustment and long-term sustainability of budgetary policy choices. A cross-country regression analysis shows that the problems with high social-security outlays are largely the result of loose eligibility criteria (many pensions go to early retirees) under current state pay-as-you-go pension systems- not so much to old populations or high replacement rates. Fakin and de Crombrugghe suggest that transition economies should strive for a real social consensus on the reform of future pension rights. The transition to a funded pension system could be financed by a combination of: Government debt. Proceeds from privatization. Efficiency gains from lowering and/or restructuring government spending in favor of infrastructure, retraining, and market-oriented tertiary education. This paper - a joint product of the Office of the Senior Vice President, Development Economics and Chief Economist, and Research Support Staff - is part of Fiscal Reform in Poland (RPO 678-96), a study funded by the Bank's Research Support Budget.
Book Synopsis Challenges to Fiscal Adjustment in Latin America The Cases of Argentina, Brazil, Chile and Mexico by : OECD
Download or read book Challenges to Fiscal Adjustment in Latin America The Cases of Argentina, Brazil, Chile and Mexico written by OECD and published by OECD Publishing. This book was released on 2006-02-06 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume discusses progress made to date in Argentina, Brazil, Chile and Mexico in putting their finances in order, and points out the challenges ahead.
Book Synopsis Fiscal Adjustments in Transition Economies Transfers and the Efficiency of Public Spending: A Comparison with OECD Countries by : de Alain Crombrugghe
Download or read book Fiscal Adjustments in Transition Economies Transfers and the Efficiency of Public Spending: A Comparison with OECD Countries written by de Alain Crombrugghe and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: July 1997 Social security contributions and outlays in the economies of Central Europe do not differ much from those in the OECD countries, so experience in the OECD countries is relevant to them. The main problem: Loose eligibility criteria that allow too much pension money to go to early retirees. Despite a dramatic shift away from subsidies in the early years of transition, the countries of Central Europe still show signs of unsuccessful fiscal adjustment, insufficient deficit reduction, and loose spending policy. High social transfers and low efficiency of government spending remain two challenges of fiscal adjustment and long-term sustainability of budgetary policy choices. A cross-country regression analysis shows that the problems with high social-security outlays are largely the result of loose eligibility criteria (many pensions go to early retirees) under current state pay-as-you-go pension systems- not so much to old populations or high replacement rates. Fakin and de Crombrugghe suggest that transition economies should strive for a real social consensus on the reform of future pension rights. The transition to a funded pension system could be financed by a combination of: * Government debt. * Proceeds from privatization. * Efficiency gains from lowering and/or restructuring government spending in favor of infrastructure, retraining, and market-oriented tertiary education. This paper-a joint product of the Office of the Senior Vice President, Development Economics and Chief Economist, and Research Support Staff-is part of Fiscal Reform in Poland (RPO 678-96), a study funded by the Bank's Research Support Budget.
