Australia S Fiscal Framework Revisiting Options For A Fiscal Anchor
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Australia S Fiscal Framework Revisiting Options For A Fiscal Anchor
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Author : Allan Dizioli
language : en
Publisher: International Monetary Fund
Release Date : 2017-12-22
Australia S Fiscal Framework Revisiting Options For A Fiscal Anchor written by Allan Dizioli 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 2017-12-22 with Business & Economics categories.
This paper revisits options for fiscal anchors in Australia against the backdrop of a medium-term budget balance anchor that has led to larger than expected upward drift in the net debt to GDP ratio since the end of the mining investment boom. The IMF’s G20MOD model is used to compare the budget balance anchor with a long-term debt anchor. Using model simulations evaluated against objective macro stabilization-debt control criteria under three likely scenarios for the Australian economy, the latter is found to perform at least as well as the former. The paper also considers the operationalization of a long-term debt anchor utilizing a combination of fiscal rules which includes expenditure restrictions and a flexible time horizon for convergence, aiming at encouraging countercyclical fiscal policy and minimizing the cost in terms of real GDP foregone in the medium term under fiscal consolidation.
Australia S Fiscal Framework Revisiting Options For A Fiscal Anchor
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Author : Allan Dizioli
language : en
Publisher: International Monetary Fund
Release Date : 2017-12-22
Australia S Fiscal Framework Revisiting Options For A Fiscal Anchor written by Allan Dizioli 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 2017-12-22 with Business & Economics categories.
This paper revisits options for fiscal anchors in Australia against the backdrop of a medium-term budget balance anchor that has led to larger than expected upward drift in the net debt to GDP ratio since the end of the mining investment boom. The IMF’s G20MOD model is used to compare the budget balance anchor with a long-term debt anchor. Using model simulations evaluated against objective macro stabilization-debt control criteria under three likely scenarios for the Australian economy, the latter is found to perform at least as well as the former. The paper also considers the operationalization of a long-term debt anchor utilizing a combination of fiscal rules which includes expenditure restrictions and a flexible time horizon for convergence, aiming at encouraging countercyclical fiscal policy and minimizing the cost in terms of real GDP foregone in the medium term under fiscal consolidation.
Australia
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2019-02-14
Australia written by International Monetary Fund. Asia and Pacific 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 2019-02-14 with Business & Economics categories.
This Selected Issues paper evaluates Australia’s experience with its principles-based fiscal framework. A key contribution of the paper is an evaluation of whether the medium-term budget balance anchor remains suitable in the post-Global Financial Crisis (GFC) economic environment. This paper analyzes the medium-term fiscal strategy (MTFS) in the context of the principles underlying the fiscal framework and offers suggestions for reinforcement. Comparing the alternative and current fiscal policy toolkits under a downside scenario demonstrates possible improvements to fiscal outcomes. The evaluation outlines that the operational principles of the MTFS have been consistent with the broad principles for sound fiscal policy laid out in the Charter, although implementation has involved difficult trade-offs. Options to deal with the treatment of debt, its accountability framework and its fiscal policy toolkit should help strengthen the statement and implementation of Australia’s fiscal strategy and reinforce its fiscal framework in the current and prospective economic environment.
Apais Australian Public Affairs Information Service
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Author :
language : en
Publisher:
Release Date : 1985
Apais Australian Public Affairs Information Service written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Australia categories.
Vol. for 1963 includes section Current Australian serials; a subject list.
Aanwinsten Van De Centrale Bibliotheek Queteletfonds
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Author : Bibliothèque centrale (Fonds Quetelet)
language : en
Publisher:
Release Date : 2001
Aanwinsten Van De Centrale Bibliotheek Queteletfonds written by Bibliothèque centrale (Fonds Quetelet) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Personnel Management Abstracts
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Author :
language : en
Publisher:
Release Date : 1993
Personnel Management Abstracts written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Personnel management categories.
Current Law Index
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Author :
language : en
Publisher:
Release Date : 2005
Current Law Index written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Law categories.