Are All Summary Indicators Of The Stance Of Fiscal Policy Misleading

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Are All Summary Indicators Of The Stance Of Fiscal Policy Misleading

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-12-23

Are All Summary Indicators Of The Stance Of Fiscal Policy Misleading 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 1988-12-23 with Business & Economics categories.

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

How To Measure The Fiscal Deficit

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Author : Mr.Mario I. Bléjer
language : en
Publisher: International Monetary Fund
Release Date : 1991-09-15

How To Measure The Fiscal Deficit written by Mr.Mario I. Bléjer 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 1991-09-15 with Business & Economics categories.

Fiscal policy seeks to equilibrate the public sector's financing needs with the private sector's demand for investment and a sustainable balance of payments. Correct measurement of the public sector's net use of resources is therefore an important prerequisite for managing the macroeconomy. This volume, edited by Mario I. Blejer and Adrienne Cheasty, is organized around four issues: the adequacy of summary measures of the fiscal deficit, conventional and adjusted deficits, coverage (size) of the public sector, and the public sector's intertemporal budget constraint.

Fiscal Impulses And Their Fiscal Impact

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Author : Sheetal K. Chand
language : en
Publisher: International Monetary Fund
Release Date : 1992-05-01

Fiscal Impulses And Their Fiscal Impact written by Sheetal K. Chand 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 1992-05-01 with Business & Economics categories.

Fiscal impulse measures are used in the WEO and elsewhere to indicate the changing impact of the budget on the economy. Such measures are intended to provide more accurate indications of whether the budget is becoming more or less expansionary than would just observing moments in the actual budget balance. However, they have been criticized for lacking an analytical rationale. This paper uses a simple framework to show that the fiscal impulse measure can be analytically derived. While this removes one source of criticism, the measure, nevertheless, should be used carefully when making inferences of fiscal impact.

The Fiscal Stance In Sweden

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Author : Mr.Robert P. Hagemann
language : en
Publisher: International Monetary Fund
Release Date : 1995-11-01

The Fiscal Stance In Sweden written by Mr.Robert P. Hagemann 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 1995-11-01 with Business & Economics categories.

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Imf Staff Papers

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1989-01-01

Imf Staff Papers written by International Monetary Fund. Research 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 1989-01-01 with Business & Economics categories.

Two recent criticisms of summary fiscal indicators are appraised: first, that they and the conventionally measured public sector balances from which they are derived are not sufficiently broadly defined; second, that they are meaningless because they do not reflect changes in the distribution of wealth between generations. The paper concludes that the defects of summary fiscal indicators have been exaggerated. It is not feasible to include all changes in public sector net worth in the deficit, and the existence of liquidity constraints and aversion to indebtedness imply that conventionally measured public sector deficits are not irrelevant.

Fiscal Policy In Economic And Monetary Union

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Author : Marco Buti
language : en
Publisher: Edward Elgar Publishing
Release Date : 2005-01-01

Fiscal Policy In Economic And Monetary Union written by Marco Buti and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-01 with Business & Economics categories.

The book has many merits, and represents an important contribution to the controversial topic of European fiscal policy. I appreciated in particular the high quality and rigor of the analysis and the fact that the pros and cons of the contending opinions are presented in a fair way. It is a rewarding reading. EAEPE Newsletter Buti and Franco present a series of interesting analytical information which should be read by as broad an audience as possible. . . the book is a good buy. László Csaba, Acta Oeconomica This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU s budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature. The authors, who have been at the forefront of the academic and policy debate on economic policy in Europe, argue that fiscal policy has always been at the core of the EMU debate. The Maastricht criteria and the Stability and Growth Pact are the most contentious building blocks of EMU s institutional architecture: they have aroused heated controversies between academics and policymakers ever since their adoption. As EMU s budgetary rules undergo their first severe shock, Europe is still searching for its fiscal soul. The book s basic premise is that one cannot fully understand EMU s fiscal framework and the recent debate on its reform without placing them in a historical and institutional perspective and abstracting from the uniqueness of EMU, where sovereign countries retain a large degree of fiscal independence, and monetary policy is entrusted to an independent central bank with the overriding mission of maintaining price stability. Analysing all aspects of EMU s fiscal rules and institutions, this book will strongly appeal to students, academics and researchers of macroeconomic policy and European integration. Policymakers and fiscal policy experts at both national and international levels will also find the book to be of great interest.

Transparency In Government Operations

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Author : Mr.J. D. Craig
language : en
Publisher: International Monetary Fund
Release Date : 1998-02-03

Transparency In Government Operations written by Mr.J. D. Craig 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 1998-02-03 with Business & Economics categories.

Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.

Framework For Macroeconomic Analysis

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Author : Colin A. Bruce
language : en
Publisher: World Bank Publications
Release Date : 1991

Framework For Macroeconomic Analysis written by Colin A. Bruce and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Debts, External categories.

Models of the RMSM-X genre can-- while preserving their logical structure-- incorporate behavioral equations and provide useful insights into policy actions that would correct internal and external macroeconomic imbalances.

The Macroeconomics Of Public Sector Deficits

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Author : Roumeen Islam
language : en
Publisher: World Bank Publications
Release Date : 1991

The Macroeconomics Of Public Sector Deficits written by Roumeen Islam and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Budget deficits categories.

The Theory Of New Classical Macroeconomics

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Author : Peter Galbács
language : en
Publisher: Springer
Release Date : 2015-04-23

The Theory Of New Classical Macroeconomics written by Peter Galbács and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-23 with Business & Economics categories.

This book examines new classical macroeconomics from a comparative and critical point of view that confronts the original texts and later comments as a first dimension of comparison. The second dimension appears in a historical context, since none of the new classical doctrines can be analyzed ignoring the parallelism and discrepancies with the theory of Keynes, Friedman or Phelps. Radicalism of new classical macroeconomics has brought fundamental changes in economic thought, but the doctrines got vulgarized and distorted thanks to the mass of followers. Nowadays, economic theory and policy, trying to find their ways, have a less clear relationship than ever. Therefore, this volume is aimed at mapping and reconsidering the policy instruments and transmission mechanisms offered by the new classicals. Its central question points to the real nature of new classical macroeconomics: what consequences are grounded by the assumptions new classicals used. Moreover, issues raised by automatic fiscal stabilizers and fiscal reforms are analyzed as well, even if they were out of the range of classical texts. The book draws a picture of new classical macroeconomics stressing the analogies with Keynesian countercyclical policies, instead of the discrepancies commonly held.