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A New Action Based Dataset Of Fiscal Consolidation

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A New Action Based Dataset Of Fiscal Consolidation

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Author : Mr.Daniel Leigh
language : en
Publisher: International Monetary Fund
Release Date : 2011-06-01

A New Action Based Dataset Of Fiscal Consolidation written by Mr.Daniel Leigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-01 with Business & Economics categories.

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.

A New Action Based Dataset Of Fiscal Consolidation In Latin America And The Caribbean

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Author : Mr.Antonio David
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-26

A New Action Based Dataset Of Fiscal Consolidation In Latin America And The Caribbean written by Mr.Antonio David and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-26 with Business & Economics categories.

This paper presents a new database of fiscal consolidations for 14 Latin American and Caribbean economies during 1989-2016. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and long-term fiscal health 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, central bank reports, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation for these economies

The Macroeconomic Effects Of Fiscal Consolidation In Emerging Economies Evidence From Latin America

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Author : Mr.Yan Carriere-Swallow
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13

The Macroeconomic Effects Of Fiscal Consolidation In Emerging Economies Evidence From Latin America written by Mr.Yan Carriere-Swallow and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.

We estimate the short-term effects of fiscal consolidation on economic activity in 14 countries in Latin America and the Caribbean. We examine contemporaneous policy documents to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Based on this narrative dataset, our estimates suggest that fiscal consolidation has contractionary effects on GDP, consistent with a multiplier of 0.9. We find these effects to be close to those in OECD countries based on a similarly constructed dataset (Devries and others, 2011). We also find similar estimation results for the two groups of economies for the effect of fiscal consolidation on the external current account balance, providing support for the twin deficits hypothesis.

Expansionary Austerity New International Evidence

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Author : Mr. Daniel Leigh
language : en
Publisher: International Monetary Fund
Release Date : 2011-07-01

Expansionary Austerity New International Evidence written by Mr. Daniel Leigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-01 with Business & Economics categories.

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.

Macroeconomic Effects Of Tax Rate And Base Changes

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Author : Frederico Lima
language : en
Publisher:
Release Date : 2022

Macroeconomic Effects Of Tax Rate And Base Changes written by Frederico Lima and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.

This paper examines the macroeconomic effects of tax changes during fiscal consolidations. We build a new narrative dataset of tax changes during fiscal consolidation years, containing detailed information on the expected yield, motivation, and announcement and implementation dates of more than 2,000 tax measures across 10 OECD countries. Using this data, we then analyze the macroeconomic impact of tax changes, distinguishing between tax rate and tax base changes, and further differentiating between changes in personal income, corporate income, and value added taxes. Our results suggest that base broadening during fiscal consolidations leads to smaller output and employment declines compared to rate hikes, even when distinguishing between tax types.

Macroeconomic Effects Of Tax Rate And Base Changes Evidence From Fiscal Consolidations

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Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2018-09-28

Macroeconomic Effects Of Tax Rate And Base Changes Evidence From Fiscal Consolidations written by Ms.Era Dabla-Norris and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-28 with Business & Economics categories.

This paper examines the macroeconomic effects of tax changes during fiscal consolidations. We build a new narrative dataset of tax changes during fiscal consolidation years, containing detailed information on the expected revenue impact, motivation, and announcement and implementation dates of nearly 2,500 tax measures across 10 OECD countries. We analyze the macroeconomic impact of tax changes, distinguishing between tax rate and tax base changes, and further separating between changes in personal income, corporate income, and value added tax. Our results suggest that base broadening during fiscal consolidations leads to smaller output and employment declines compared to rate hikes, even when distinguishing between tax types.

Fiscal Rules Anchoring Expectations For Sustainable Public Finances

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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-11

Fiscal Rules Anchoring Expectations For Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-11 with Business & Economics categories.

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.

The Macroeconomic Effects Of Fiscal Consolidation In Emerging Economies Evidence From Latin America

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FREE 30 Days

Author : Mr.Yan Carriere-Swallow
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13

Macroeconomic Effects Of Tax Rate And Base Changes Evidence From Fiscal Consolidations

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FREE 30 Days

Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-01

This paper examines the macroeconomic effects of tax changes during fiscal consolidations. We build a new narrative dataset of tax changes during fiscal consolidation years, containing detailed information on the expected revenue impact, motivation, and announcement and implementation dates of nearly 2,500 tax measures across 10 OECD countries. We analyze the macroeconomic impact of tax changes, distinguishing between tax rate and tax base changes, and further separating between changes in personal income, corporate income, and value added tax. Our results suggest that base broadening during fiscal consolidations leads to smaller output and employment declines compared to rate hikes, even when distinguishing between tax types.

Fiscal Policy After The Financial Crisis

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Author : Alberto Alesina
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-25

Fiscal Policy After The Financial Crisis written by Alberto Alesina and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-25 with Business & Economics categories.

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.

A New Action Based Dataset Of Fiscal Consolidation

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