A Re Assessment Of Fiscal Space In Oecd Countries

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A Re Assessment Of Fiscal Space In Oecd Countries

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Author : Jarmila Botev
language : en
Publisher:
Release Date : 2016

A Re Assessment Of Fiscal Space In Oecd Countries written by Jarmila Botev and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Economics categories.

Abstract: To what extent can public deficits increase without putting fiscal sustainability at risk, given the specific current macroeconomic situation of protracted low growth and low interest rates, combined with relatively high government debt levels? The answer depends on many factors, such as the state of the economy, the fiscal track record and projections of population ageing and their effect on government spending. This paper makes use of three different approaches to better assess fiscal space, which can be defined in a broad manner as the extent to which public debt can increase. These approaches converge to a conclusion that there is fiscal space in most of the large advanced economies. There is also evidence that fiscal space may have risen in most OECD countries since 2014, mainly driven by the decrease in interest rates. Reforms to health and pension programmes would help to create additional fiscal space

Effects Of Fiscal Space And Fiscal Rules An Empirical Analysis Of Emu And Oecd Countries

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Author : Jens Lapointe-Rohde
language : en
Publisher:
Release Date : 2021

Effects Of Fiscal Space And Fiscal Rules An Empirical Analysis Of Emu And Oecd Countries written by Jens Lapointe-Rohde and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.

Assessing Fiscal Space

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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-15

Assessing Fiscal Space written by International Monetary Fund. Strategy, Policy, & Review Department 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 2018-06-15 with Business & Economics categories.

This paper reviews the experience with the fiscal space assessment framework that was piloted during 2017–18. In 2016, staff proposed an operational definition of fiscal space and a new four-stage framework for its assessment. These were discussed informally by the Board in June, and a Board paper “Assessing Fiscal Space: An Initial Consistent Set of Considerations” incorporating Directors’ views was published in December. Fiscal space was narrowly defined as the room for undertaking discretionary fiscal policy relative to existing plans without endangering market access and debt sustainability. The framework was developed in response to the need to provide a more systematic approach to assessing fiscal space in the Fund’s surveillance. It was designed as a tool to inform the availability of fiscal space over a 3 to 4 year horizon for discretionary action, as opposed to the optimality of its use. Indeed, it was stressed that the availability of space does not necessarily mean that it should be used or should not be further expanded. The framework was piloted in the Article IV consultations of 34 advanced economies and emerging markets, comprising almost 80 percent of global GDP in PPP terms.

World Energy Outlook 2017

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Author : Agence internationale de l'énergie
language : en
Publisher:
Release Date : 2018-01-19

World Energy Outlook 2017 written by Agence internationale de l'énergie and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-19 with Energy industries categories.

The global energy scene is in a state of flux. Large-scale shifts include: the rapid deployment and steep declines in the costs of major renewable energy technologies; the growing importance of electricity in energy use across the globe; profound changes in China's economy and energy policy, moving consumption away from coal; and the continued surge in shale gas and tight oil production in the United States. These changes provide the backdrop for the World Energy Outlook-2017, which includes a full update of energy demand and supply projections to 2040 based on different scenarios. The projections are accompanied by detailed analyses of their impact on energy industries and investment, as well as implications for energy security and the environment. The report this year includes a focus on China, which examines how China's choices could reshape the global outlook for all fuels and technologies. A second focus, on natural gas, explores how the rise of shale gas and LNG are changing the global gas market as well as the opportunities and risks for gas in the transition to a cleaner energy system. Finally, the WEO-2017 introduces a major new scenario - the Sustainable Development Scenario - that outlines an integrated approach to achieving internationally agreed objectives on climate change, air quality and universal access to modern energy.

Can They Do It All Fiscal Space In Low Income Countries

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Author : Ms.Anja Baum
language : en
Publisher: International Monetary Fund
Release Date : 2017-05-08

Can They Do It All Fiscal Space In Low Income Countries written by Ms.Anja Baum 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 2017-05-08 with Business & Economics categories.

According to U.N. estimates, low-income countries will have to increase their annual public spending by up to 30 percent of GDP to achieve the Sustainable Development Goals (SDGs), raising the question of whether they can do it all. This paper develops a new metric of fiscal space in low-income countries that accounts for macroeconomic uncertainty, allowing us to assess whether those spending needs can be accommodated. Illustrative simulations based on this methodology imply that, even under benign conditions, the fiscal space available in lowincome countries is likely insufficient to undertake the spending needed to achieve the SDGs. Improving public investment efficiency and domestic revenue mobilization can somewhat narrow the gap but it will require major efforts relative to recent trends.

Oecd Economic Outlook Volume 2019 Issue 1

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2019-05-21

Oecd Economic Outlook Volume 2019 Issue 1 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-21 with categories.

This issue includes a general assessment, a special chapter on the effects of digitalisation on productivity and a chapter summarising developments and providing projections for each individual country.

Economic Activity Fiscal Space And Types Of Covid 19 Containment Measures

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Author : Amr Hosny
language : en
Publisher: International Monetary Fund
Release Date : 2022-01-28

Economic Activity Fiscal Space And Types Of Covid 19 Containment Measures written by Amr Hosny 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 2022-01-28 with Business & Economics categories.

This paper argues that the type of COVID-19 containment measures affects the trade-offs between infection cases, economic activity and sovereign risk. Using local projection methods and a year and a half of high-frequency daily data covering 44 advanced and emerging economies, we find that smart (e.g. testing) as opposed to physical (e.g. lockdown) measures appear to be best placed to tackle these trade-offs. Initial conditions also matter whereby containment measures can be less disruptive when public health response time is fast and public debt is low. We also construct a database of daily fiscal announcements for Euro area countries, and find that sovereign risk is improved under a combination of large support packages and smart measures.

Coordination Of Monetary And Fiscal Policies

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1998-03-01

Coordination Of Monetary And Fiscal Policies written by International Monetary Fund 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 1998-03-01 with Business & Economics categories.

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.

Fiscal Policy And Long Term Growth

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-20

Fiscal Policy And Long Term Growth written by International Monetary Fund 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 2015-04-20 with Business & Economics categories.

This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

Oecd Economic Outlook Volume 2016 Issue 2

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2016-12-17

Oecd Economic Outlook Volume 2016 Issue 2 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-17 with categories.

The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years.