Fiscal Rules - Limits on Governmental Deficits and Debt

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Author :
Publisher : Springer
ISBN 13 : 3319412051
Total Pages : 358 pages
Book Rating : 4.3/5 (194 download)

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Book Synopsis Fiscal Rules - Limits on Governmental Deficits and Debt by : Fred L. Morrison

Download or read book Fiscal Rules - Limits on Governmental Deficits and Debt written by Fred L. Morrison and published by Springer. This book was released on 2016-08-11 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines legal limitations on government deficit and debt and its impact on the ability of nations to provide services to their residents. It studies constitutional and statutory limitations, as well as those imposed by international treaties and other instruments, including those of both the European Union and the International Monetary Fund. The book contains a general report examining the fiscal rules that govern the budgets and expenditures of nation states. The general report is followed by a special report which covers the limits imposed by the European Union and by the smaller group of countries constituting the Eurozone. Ten national reports, describing the limits in their respective countries, form the basis of the general report. These countries include eight members of the European Union (five of which use the Euro and three of which do not), one other European state and one non-European state. The reports include two countries in which constitutional “debt brakes” limit national deficit and debt.

Sovereign Debt

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Author :
Publisher : Oxford University Press
ISBN 13 : 0192591398
Total Pages : 455 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Sovereign Debt by : S. Ali Abbas

Download or read book Sovereign Debt written by S. Ali Abbas and published by Oxford University Press. This book was released on 2019-10-21 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. Sovereign Debt brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic. It explores debt management with debt sustainability; debt reduction policies with crisis prevention policies; and the history with the conjuncture. It is a foundation text for all those interested in sovereign debt, with a particular focus real world examples and issues.

Debt Limit

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Publisher : DIANE Publishing
ISBN 13 : 1437930255
Total Pages : 24 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Debt Limit by : D. A. Austin

Download or read book Debt Limit written by D. A. Austin and published by DIANE Publishing. This book was released on 2010-06 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses how the total debt of the federal government can increase, a historical overview of debt limits, and how the current economic slowdown has led to higher deficits and thereby a series of debt limit increases, as well as legislation related to these increases.

Guidelines for Public Debt Management -- Amended

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Author :
Publisher : International Monetary Fund
ISBN 13 : 149832892X
Total Pages : 39 pages
Book Rating : 4.4/5 (983 download)

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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

The Liquidation of Government Debt

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Publisher : International Monetary Fund
ISBN 13 : 1498338380
Total Pages : 47 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Liquidation of Government Debt by : Ms.Carmen Reinhart

Download or read book The Liquidation of Government Debt written by Ms.Carmen Reinhart and published by International Monetary Fund. This book was released on 2015-01-21 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

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Author :
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781462396955
Total Pages : 94 pages
Book Rating : 4.3/5 (969 download)

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Book Synopsis A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates by : Julio Escolano

Download or read book A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates written by Julio Escolano and published by INTERNATIONAL MONETARY FUND. This book was released on 2010-01-27 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a practical guide to public debt dynamics, fiscal sustainability, and cyclical adjustment of budgetary aggregates. The paper discusses fiscal formulas, which may be of practical use in fiscal analysis. The paper derives, respectively, the formulas for debt dynamics, and cyclical and inflation adjustment of budgetary aggregates. It discusses other relationships for special applications, and some practical implications and usage. The formulas related to debt dynamics are based on the assumption that changes in liabilities are the result of above-the-line budgetary operations.

The Gold Clause Cases

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Author :
Publisher :
ISBN 13 :
Total Pages : 536 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Gold Clause Cases by : United States. Supreme Court

Download or read book The Gold Clause Cases written by United States. Supreme Court and published by . This book was released on 1934 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt:

In Defense of Public Debt

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Author :
Publisher : Oxford University Press
ISBN 13 : 0197577911
Total Pages : 321 pages
Book Rating : 4.1/5 (975 download)

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Book Synopsis In Defense of Public Debt by : Barry Eichengreen

Download or read book In Defense of Public Debt written by Barry Eichengreen and published by Oxford University Press. This book was released on 2021-08-11 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dive into the origins, management, and uses and misuses of sovereign debt through the ages. Public debts have exploded to levels unprecedented in modern history as governments responded to the Covid-19 pandemic and ensuing economic crisis. Their dramatic rise has prompted apocalyptic warnings about the dangers of heavy debtsabout the drag they will place on economic growth and the burden they represent for future generations. In Defense of Public Debt offers a sharp rejoinder to this view, marshaling the entire history of state-issued public debt to demonstrate its usefulness. Authors Barry Eichengreen, Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener argue that the ability of governments to issue debt has played a critical role in addressing emergenciesfrom wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare. In these ways, the capacity to issue debt has been integral to state building and state survival. Transactions in public debt securities have also contributed to the development of private financial markets and, through this channel, to modern economic growth. None of this is to deny that debt problems, debt crises, and debt defaults occur. But these dramatic events, which attract much attention, are not the entire story. In Defense of Public Debt redresses the balance. The authors develop their arguments historically, recounting two millennia of public debt experience. They deploy a comprehensive database to identify the factors behind rising public debts and the circumstances under which high debts are successfully stabilized and brought down. Finally, they bring the story up to date, describing the role of public debt in managing the Covid-19 pandemic and recession, suggesting a way forward once governmentsnow more heavily indebted than beforefinally emerge from the crisis.

Global Waves of Debt

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Author :
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Public Debt and Growth

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Author :
Publisher : International Monetary Fund
ISBN 13 : 145520157X
Total Pages : 49 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Public Debt and Growth by : Jaejoon Woo

Download or read book Public Debt and Growth written by Jaejoon Woo and published by International Monetary Fund. This book was released on 2010-07-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.

Public Debt Limitation

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Author :
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Public Debt Limitation by : United States. Congress. House. Committee on Ways and Means

Download or read book Public Debt Limitation written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1981 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Debt Sustainability in Developing Asia

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Author :
Publisher : Routledge
ISBN 13 : 0415522218
Total Pages : 227 pages
Book Rating : 4.4/5 (155 download)

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Book Synopsis Public Debt Sustainability in Developing Asia by : Benno Ferrarini

Download or read book Public Debt Sustainability in Developing Asia written by Benno Ferrarini and published by Routledge. This book was released on 2012 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public debt, in particular its sustainability, has moved to center stage in the policy debate. If the Asia and Pacific region is to continue to serve as an engine for global growth, its public debt must be sustainable. Public Debt Sustainability in Developing Asia addresses this issue for Asia and the Pacific as a whole as well as for three of the most dynamic economies in the region: the People’s Republic of China, India, and Viet Nam. The book begins with a discussion of the reasons for increased attention to debt-related issues. It also introduces fiscal indicators for the Asian Development. Bank’s developing member countries and economies. The sustainability of their debt is assessed through extant approaches and with the most up-to-date data sources. The book also surveys the existing literature on debt sustainability, outlining the main issues related to it, and discusses the key implications for the application of debt sustainability analysis in developing Asia. Also highlighted is the importance of conducting individual country studies in view of wide variations in definitions of public expenditure, revenues, contingent liabilities, government structures (e.g., federal), and the like, as well as the impact of debt on interest rates. The book further provides in-depth debt sustainability analyses for the People’s Republic of China, India, and Viet Nam. Public Debt Sustainability in Developing Asia offers a comprehensive analytical and empirical update on the sustainability of public debt in the region. It breaks new ground in examining characteristics that are crucial to understanding sustainability and offers richer policy analysis that should prove useful for policymakers, researchers, and graduate students.

Revised Guidelines for Public Debt Management

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498330665
Total Pages : 40 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Revised Guidelines for Public Debt Management by : International Monetary Fund,

Download or read book Revised Guidelines for Public Debt Management written by International Monetary Fund, and published by International Monetary Fund. This book was released on 2015-03-11 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Revised Guidelines for Public Debt Management have been developed as part of a broader work program undertaken by the IMF and the World Bank to strengthen the international financial architecture, promote policies and practices that contribute to financial stability and transparency, and reduce countries external vulnerabilities.

Public Debt Through the Ages

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Publisher : International Monetary Fund
ISBN 13 : 1484392892
Total Pages : 60 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Public Debt Through the Ages by : Mr.Barry J. Eichengreen

Download or read book Public Debt Through the Ages written by Mr.Barry J. Eichengreen and published by International Monetary Fund. This book was released on 2019-01-15 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.

Public Debt Limit

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Author :
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Public Debt Limit by : United States. Congress. House. Committee on Ways and Means

Download or read book Public Debt Limit written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1984 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Managing Public Debt

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Publisher : World Bank Publications
ISBN 13 : 0821368737
Total Pages : 140 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Managing Public Debt by :

Download or read book Managing Public Debt written by and published by World Bank Publications. This book was released on 2007-01-01 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: High-quality public debt management plays a critical role in reducing the vulnerability of developing countries to financial crises. With sound risk and cash management, effective coordination with fiscal and monetary policy, good governance, and adequate institutional and staff capacity in place, governments can develop and implement effective medium-term debt management strategies. Managing Public Debt: From Diagnostics to Reform Implementation draws insights from a joint pilot program set up by the World Bank and International Monetary Fund to design relevant reform and capacity-building programs in twelve countries. The experiences of these geographically and economically diverse countries - Bulgaria, Colombia, Costa Rica, Croatia, Indonesia, Kenya, Lebanon, Nicaragua, Pakistan, Sri Lanka, Tunisia, and Zambia - illustrate the challenges and elements necessary to make progress in the area of public debt management. Managing Public Debt will serve government officials contemplating or in the process of reforming their practices, providers of technical assistance, and practitioners working on building capacity in public debt management. Because effective implementation of debt management strategies also requires a developed domestic government debt market, readers will also be interested in the companion volume, Developing the Domestic Government Debt Market, published by The World Bank in February 2007, based on the same joint pilot program.

Public Debt Limit

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Author :
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Public Debt Limit by : United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management

Download or read book Public Debt Limit written by United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management and published by . This book was released on 1990 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: