Deep Roots Of Fiscal Behavior

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Deep Roots Of Fiscal Behavior

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Author : Mr.Serhan Cevik
language : en
Publisher: International Monetary Fund
Release Date : 2014-03-12

Deep Roots Of Fiscal Behavior written by Mr.Serhan Cevik 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 2014-03-12 with Business & Economics categories.

This paper investigates the determinants of fiscal policy behavior and its time-varying volatility, using panel data for a broad set of advanced and emerging market economies during the period 1990–2012. The empirical results show that discretionary fiscal policy is influenced by policy inertia, the level of public debt, and the output gap in both advanced and emerging market economies. In addition, the paper finds that macro-financial factors—such as real exchange rate, financial development, interest rates, asset prices, and natural resource rents—and demographic and institutional factors—such as the old-age dependency ratio, the quality of institutions, and policy anchors such as fiscal rules and IMF-supported stabilization programs—tend to have a significant effect on fiscal policy behavior. The results also indicate that higher government debt leads to more volatile fiscal behavior, while fiscal rules and higher institutional quality reduce the volatility of fiscal policy over time.

Back To The Future Fiscal Rules For Regaining Sustainability

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Author : Mr.Serhan Cevik
language : en
Publisher: International Monetary Fund
Release Date : 2019-11-08

Back To The Future Fiscal Rules For Regaining Sustainability written by Mr.Serhan Cevik 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 2019-11-08 with Business & Economics categories.

This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the period since 1976. While the government’s recent commitment to maintain a primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given Belize’s history of large economic shocks, this paper proposes explicit fiscal rules designed for countercyclical policy and debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing an independent fiscal council to improve accountability and transparency.

Deep Roots Of Fiscal Behavior

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Author : Serhan Cevik
language : en
Publisher:
Release Date : 2017

Deep Roots Of Fiscal Behavior written by Serhan Cevik and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.

This paper investigates the determinants of fiscal policy behavior and its time-varying volatility, using panel data for a broad set of advanced and emerging market economies during the period 1990-2012. The empirical results show that discretionary fiscal policy is influenced by policy inertia, the level of public debt, and the output gap in both advanced and emerging-market economies. In addition, the paper finds that macro-financial factors (such as real exchange rate, financial development, interest rates, asset prices, and natural resource rents) and demographic and institutional factors (such as the old-age dependency ratio, the quality of institutions, and policy anchors such as fiscal rules and IMF-supported stabilization programs) tend to have a significant effect on fiscal policy behavior. The results also indicate that higher government debt leads to more volatile fiscal behavior, while fiscal rules and higher institutional quality reduce the volatility of fiscal policy over time.

Staff Report On The Monetary And Exchange Rate Policies Of The Euro Area Supplement Updating Information On Economic And Financial Developments In The Euro Area Public Information Notice Following Consultation Statement By The Executive Director On Monetary And Exchange Rate Policies Of The Euro Area

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2001-11-06

Staff Report On The Monetary And Exchange Rate Policies Of The Euro Area Supplement Updating Information On Economic And Financial Developments In The Euro Area Public Information Notice Following Consultation Statement By The Executive Director On Monetary And Exchange Rate Policies Of The Euro Area 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 2001-11-06 with Business & Economics categories.

A series of adverse supply and demand shocks have brought the euro area’s three-year expansion to a virtual standstill. Buoyant labor markets, which have been the hallmark of the recovery since 1997, have succumbed only gradually to the slowing of output growth. The slowdown has been pervasive throughout the area, albeit unevenly and with different cyclical implications. Recent travails notwithstanding, the second half of the 1990s saw a significant improvement in the macroeconomic performance of the euro area.

Riding The Storm Fiscal Sustainability In The Caribbean

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Author : Mr.Serhan Cevik
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-31

Riding The Storm Fiscal Sustainability In The Caribbean written by Mr.Serhan Cevik 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 2020-01-31 with Business & Economics categories.

Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries during the period 1980–2018. The results indicate that the coefficient on lagged government debt is positive and statistically significant, implying that fiscal policy in the Caribbean takes corrective actions to counteract an increase in the debt-to-GDP ratio. Nonlinear estimations, however, show that the quadratic debt parameter is negative, which indicates that fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance tends to be countercyclical on average during the sample period. These empirical results confirm that maintaining prudent fiscal policies and implementing growth-enhancing structural reforms are necessary to build fiscal buffers and ensure debt sustainability with high probability even when negative shocks occur over the long term.

Neoliberalism 2 0 Regulating And Financing Globalizing Markets

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Author : L. Nijs
language : en
Publisher: Springer
Release Date : 2016-01-26

Neoliberalism 2 0 Regulating And Financing Globalizing Markets written by L. Nijs and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-26 with Business & Economics categories.

In today's increasingly globalized environment, many economic fundamentals need to be reconsidered in order to regain stability in the global marketplace. One such consideration is the failing dynamics of the international tax infrastructure. Neoliberalism 2.0 brings a 21st century assessment of the Pigovian taxes, considering a completely new calibration of the international tax systems, inspired by the historically developed Pigovian tax model. The book considers the impact neoliberalism had and will have on regulatory infrastructure, democracy in an era of globalization and reduced legitimation of the national state. The Pigovian model brings home the often forgotten relationship between taxation (as a part of the regulatory sphere), macro-economics, and the political-philosophical context in which law and economics emerge. The model also takes into account the phenomena of globalization and financialization and is tested using the financial sector as an example. This book addresses the many challenges a Pigovian shift would imply for the sovereign and its national economies. Neoliberalism 2.0 demonstrates the ability to design a paradigm-changing alternative to the current tax infrastructure, while taking into account a low economic growth environment of the future, the implications of globalization and the changing relationship between citizens and their state.

Who Decides The Budget A Political Economy Analysis Of The Budget Process In Latin America

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Author : Carlos Scartascini
language : en
Publisher: Inter-American Development Bank
Release Date : 2009-01-01

Who Decides The Budget A Political Economy Analysis Of The Budget Process In Latin America written by Carlos Scartascini and has been published by Inter-American Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.

This book presents a new framework for analyzing the political economy of budget processes in Latin America that is based on the following premises: i) the budget process must be considered as part of the overall policymaking process rather than in isolation; ii) budget outcomes cannot be fully explained on the basis of only one or two political or institutional dimensions; iii) actual practices must be considered as well as formal rules; iv) budget processes affect dimensions of fiscal outcomes besides fiscal sustainability, particularly efficiency, adaptability, and representativeness; v) political actors and their incentives must be considered at different stages of the policymaking process and in different institutional contexts. Case studies are presented for eight countries in the region, and a final chapter presents conclusions and suggestions for further research.

Research Bulletin June 2014

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-06-12

Research Bulletin June 2014 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 2014-06-12 with Business & Economics categories.

Articles in the June 2014 issue of the IMF Research Bulletin look at “The Rise and Fall of Current Account Deficits in the Euro Area Periphery and the Baltics” (Joong Shik Kang and Jay C. Shambaugh) and “The Two Sides of the Same Coin?: Rebalancing and Inclusive Growth in China” (Il Houng Lee, Murtaza Syed, and Xin Wang). The Q&A looks at “Seven Questions on the Monetary Transmission Mechanism in Low-Income Countries” (Andrew Berg, Luisa Charry, Rafael A. Portillo, and Jan Vleck). This issue of the Research Bulletin includes updated listings of IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore. Readers can also find information on free access to a featured article from “IMF Economic Review.”

Mind Over Money The Psychology Behind Our Financial Decisions

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Author : VIRUTI SHIVAN
language : en
Publisher: Viruti Satyan Shivan
Release Date :

Mind Over Money The Psychology Behind Our Financial Decisions written by VIRUTI SHIVAN and has been published by Viruti Satyan Shivan this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.

"Mind Over Money" is a groundbreaking exploration of the intricate psychological forces that influence our financial behaviors and decisions. From impulse purchases to investment strategies, this book delves into the complex interplay between the mind and money, offering a comprehensive understanding of financial psychology. Blending behavioral economics with practical financial advice, "Mind Over Money" provides readers with the tools to understand their financial habits. Why do we spend, save, or invest the way we do? What drives our fears and desires about money? This book answers these questions and more, uncovering the subconscious patterns and emotional triggers that can dominate our financial choices. Through engaging anecdotes, case studies, and the latest research in psychology and economics, the book sheds light on topics like the allure of instant gratification, the impact of social pressures on spending, and the psychological barriers to financial success. It's not just about managing your money; it's about understanding the hidden psychological factors that drive your financial behavior. Whether you're struggling with personal debt, looking to improve your investment strategies, or simply interested in the psychology of money, "Mind Over Money" is an essential guide. It empowers readers to break free from negative financial habits and develop a healthier, more informed relationship with their finances.

Proceedings Of The 2025 10th International Conference On Financial Innovation And Economic Development Icfied 2025

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Author : Maizaitulaidawati Md Husin
language : en
Publisher: Springer Nature
Release Date : 2025-05-02

Proceedings Of The 2025 10th International Conference On Financial Innovation And Economic Development Icfied 2025 written by Maizaitulaidawati Md Husin and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-05-02 with Business & Economics categories.

This is an open access book. Financial globalization plays a huge role in promoting the development of the world economy and the optimal allocation of world resources, stimulates the accelerated development of the international division of labor, and increases the international flow of production factors such as industrial transfer, capital transfer, and technology transfer. It enables developing countries to make up for the lack of their own capital and technology, and obtain industrial evolution, technological progress, and institutional innovation, thereby accelerating the speed of economic development; it also enables developed countries to open up cheap labor, raw material markets and broad consumer markets, prolonging product value. More profits, ease the economy, the contradiction of stagflation, and restore economic growth. At the current stage, the overall environment of the international financial market is relatively stable, and the market environment has been improved to some extent. However, due to the complexity and diversity of the world economy, coupled with the national characteristics of some countries, There is great uncertainty in international policies, which has greatly affected the stability of the international financial market. In addition, the current international environment is changing. The conflict between Russia and Ukraine, the epidemic, and the Taiwan issue have all had an impact on the international economic situation. This is also the difference between this conference and previous conferences. we hope to have a deeper discussion on the current situation.