Assessing The Impact And Phasing Of Multi Year Fiscal Adjustment
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Assessing The Impact And Phasing Of Multi Year Fiscal Adjustment
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Author : Ran Bi
language : en
Publisher: International Monetary Fund
Release Date : 2013-08-23
Assessing The Impact And Phasing Of Multi Year Fiscal Adjustment written by Ran Bi 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 2013-08-23 with Business & Economics categories.
This paper provides a general framework to assess the output and debt dynamics of an economy undertaking multi-year fiscal adjustment. The framework allows country-specific assumptions about the magnitude and persistence of fiscal multipliers, hysteresis effects, and endogenous financing costs. In addition to informing macro projections, the framework can also shed light on the appropriate phasing of fiscal consolidation—in particular, on whether it should be front- or back-loaded. The framework is applied to stylized advanced and emerging economy examples. It suggests that for a highly-indebted economy undertaking large multi-year fiscal consolidation, high multipliers do not always argue against frontloaded adjustment. The case for more gradual or back-loaded adjustment is strongest when hysteresis effects are in play, but it needs to be balanced against implications for debt sustainability. Application to actual country examples tends to cast doubt on claims that very large multipliers have been operating post-crisis. It seems that the GDP forecast errors for Greece may have been due more to over-optimism on potential growth estimates than to underestimating fiscal multipliers.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-12
Barbados written by International Monetary Fund. Western Hemisphere 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 2014-02-12 with Business & Economics categories.
Barbados’ economy is estimated to have contracted by 0.7 percent in 2013, with weakness across both the traded and non-traded sectors. The 2013 Article IV Consultation highlights that long stay tourist arrivals, which are highly dependent on the U.K. and North American markets, were down by 5.2 percent in 2013. Inflation dropped sharply to 1.9 percent by end-November, although unemployment rose to 11.7 percent. Foreign reserves declined during 2013 to close out the year at US$578 million. The financial system appears to be well capitalized, but credit quality and profitability have suffered with the prolonged downturn.
Imf Research Bulletin December 2013
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-17
Imf Research Bulletin December 2013 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 2013-12-17 with Business & Economics categories.
In the December 2013 IMF Research Bulletin, the Research Summaries look at “Reforming Dual Labor Markets in Advanced Economies” (Giovanni Ganelli) and “Rating Through-The-Cycle: What Does the Concept Imply for Rating Stability Accuracy” (John Kiff, Michael Kisser, and Liliana Schumacher). The Q&A discusses Seven Questions on Financial Crises (Stijn Claessens, M. Ayhan Kose, Luc Laeven, and Fabián Valencia). This issue also includes a listing of recent IMF Working Papers and IMF Staff Discussion Notes, as well as Recommended Readings from the IMF Bookstore. The top-viewed articles from recent of issues of “IMF Economic Review” are featured.
Office For Budget Responsibiity Forecast Evaluation Report
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Author : Office for Budget Responsibility
language : en
Publisher: The Stationery Office
Release Date : 2013-10-09
Office For Budget Responsibiity Forecast Evaluation Report written by Office for Budget Responsibility and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-09 with Business & Economics categories.
The backdrop to this report is: a real economy that, until very recently, has been weaker than expected; a labour market that has been stronger than expected in terms of employment, but weaker in terms of earnings growth; and a fall in public sector borrowing as a share of national income of around a third from its peak in 2009-10, with the deficit falling significantly in 2010-11 and 2011-12 but by much less in 2012-13. The report explains the OBR's June 2010 and March 2012 forecast errors, and the weakness of the real economy. GDP remains 3.3 per cent below its pre-recession peak, the disappointing performance over the last three years reflecting the weakness of domestic and external demand. Private sector employment growth has far exceeded forecasts. The March 2013 forecast for public sector borrowing predicted a figure of £119.8 billion in 2013-14, a reduction of £1 billion over the previous year; but the new forecast is for an increase of £4.2 billion increase over 2012-13.
Playing By The Rules
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Author : Luc Eyraud
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-24
Playing By The Rules written by Luc Eyraud 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 2015-03-24 with Business & Economics categories.
The paper contributes to the discussions on fiscal governance in Europe. It takes stock of recent reforms, identifies areas for further progress, and discusses a menu of policy options for the medium-term. The issues covered include: (i) the growing complexity of the European framework and ways to simplify it; (ii) the difficulties to measure and implement structural stance indicators; (iii) the challenge of reconciling fiscal sustainability and growth; (iv) the need to enhance coordination in the area of monitoring; and (v) the obstacles to compliance and proposals to strengthen enforcement.
Women Work And The Economy
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Author : Ms.Katrin Elborgh-Woytek
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-01
Women Work And The Economy written by Ms.Katrin Elborgh-Woytek 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 2013-12-01 with Social Science categories.
The proposed SDN discusses the specific macro-critical aspects of women’s participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier Fund analysis, work undertaken by other organizations and academic research, the SDN presents possible policies to overcome these obstacles in different types of countries.
India S Recent Macroeconomic Performance
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Author : Muneesh Kapur
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-29
India S Recent Macroeconomic Performance written by Muneesh Kapur 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 2014-04-29 with Business & Economics categories.
The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in international financial markets during mid-2013. Appropriate domestic oil prices and fiscal consolidation will contribute to the recovery of private sector investment. Fiscal consolidation would also facilitate a reduction in inflation, which would moderate gold imports and favorably impact real exchange rate and current account deficit.
Greek Capitalism In Crisis
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Author : Stavros Mavroudeas
language : en
Publisher: Routledge
Release Date : 2014-07-25
Greek Capitalism In Crisis written by Stavros Mavroudeas and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-25 with Business & Economics categories.
Despite the depth of the Greek crisis, the exorbitant burdens placed upon the working people and the massive popular resistance movement to capitalist policies, there is a definite lack of consistently Marxist analyses of the Greek problem. International debates regarding the Greek crisis have been dominated by orthodox (Neoclassical and neo-Keynesian) approaches. The heterodox side of these debates has been occupied by Radical Political Economy approaches (usually radical post-Keynesian or Marxo-Keynesian perspectives). Moreover, they are dominated by the ‘financialisation’ thesis which is quite alien to Marxism, neglects the sphere of production and professes that the global crisis is simply a financial crisis that has nothing to do with ‘real’ accumulation and the profit rate. This book argues that by emphasising the sphere of production and profitability, classical Marxist analysis better explains the Greek crisis than its orthodox and heterodox competitors. The contributors present critiques of the prevalent approaches and offer studies of the Greek crisis that use the methodology and the analytical and empirical tools of classical Marxist Political Economy. In particular, it is shown that the Greek crisis was caused by falling profitability and the ensuing overaccumulation crisis. The ‘broad unequal exchange’ existing between the euro-center and the euro-periphery contributed to Greek capital’s falling profitability. This book enriches the debate about the Greek economic crisis by demonstrating the insights that can be drawn by considering the Marxist alternative to the dominant mainstream and heterodox approaches.
Global Poverty
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Author :
language : en
Publisher: BRILL
Release Date : 2022-11-21
Global Poverty written by and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-21 with Social Science categories.
This book provides a critical understanding of the causes of global poverty by international scholars from multiple disciplines. It is theoretical and empirical, dealing with both economic and non-economic aspects of poverty creation, to offer intellectual insights and political prescriptions.
The Fund S Lending Framework And Sovereign Debt Annexes
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-23
The Fund S Lending Framework And Sovereign Debt Annexes 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 2014-05-23 with Business & Economics categories.
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