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Fiscal Consolidation During Times Of High Unemployment

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Fiscal Consolidation During Times Of High Unemployment

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Author : Mr.Ruy Lama
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-10

Fiscal Consolidation During Times Of High Unemployment written by Mr.Ruy Lama 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 2015-12-10 with Business & Economics categories.

This paper studies the Swedish fiscal consolidation episode of the 1990s through the lens of a small open economy model with distortionary taxation and unemployment. We argue that the simultaneous reduction in the fiscal deficit and unemployment rate in this episode stems from two factors: (i) high growth rates of total factor productivity (TFP), experienced after the implementation of structural reforms; and (ii) a sustained wage restraint that occurred during the 1990s. The model simulations show that economic growth, accounted for mostly by TFP gains, improved the fiscal balance by 8 percentage points of GDP through an expansion of the tax base and fiscal revenues. Moreover, the combination of stable wages and higher TFP boosted net exports and led to a reduction in the unemployment rate. A counterfactual simulation assuming stagnant TFP shows that fiscal consolidation measures alone would have generated a double-digit unemployment rate without eliminating the fiscal deficit.

Fiscal Consolidation During Times Of High Unemployment

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Author : Mr.Ruy Lama
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-10

Fiscal Policy After The Financial Crisis

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Author : Alberto Alesina
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-25

Fiscal Policy After The Financial Crisis written by Alberto Alesina and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-25 with Business & Economics categories.

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.

The Challenges Of Fiscal Consolidation And Debt Reduction In The Caribbean

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Author : Charles Amo Yartey
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-08

The Challenges Of Fiscal Consolidation And Debt Reduction In The Caribbean written by Charles Amo Yartey 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 2017-07-08 with Business & Economics categories.

This paper examines debt dynamics in the Caribbean and discusses policy options for reducing the high debt levels. Based on empirical studies of factors underlying global large debt reduction episodes, important policy lessons are drawn for the Caribbean. The analysis shows that major debt reductions are associated with strong growth and decisive and lasting fiscal consolidation efforts. Since growth in the current environment is virtually nonexistent, significant fiscal consolidation is inevitable in the region. Better control of the public wage bill, increasing public sector efficiency and tackling transfers are the obvious targets to reduce spending. On the revenue side, there is ample room to reduce tax expenditures, eliminate distortions while broadening the tax base. Fiscal consolidation needs to be complemented by a comprehensive debt reduction strategy including tax policy reforms and structural reforms to boost competiveness.

Imf Research Bulletin March 2016

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-06

Imf Research Bulletin March 2016 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 2016-04-06 with Business & Economics categories.

The IMF Research Bulletin includes listings of recent IMF Working Papers and Staff Discussion Notes. The research summaries in this issue are “Explaining the Recent Slump in Investment” (Mathieu Bussiere, Laurent Ferrara, and Juliana Milovich) and “The Quest for Stability in the Housing Markets” (Hites Ahir). The Q&A column reviews “Seven Questions on Estimating Monetary Transmission Mechanism in Low-Income Countries” (Bin Grace Li, Christopher Adam, and Andrew Berg). Also included in this issue are updates on the IMF’s official journal, the IMF Economic Review, and recommended readings from IMF Publications.

In The Wake Of The Crisis

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Author : Olivier Blanchard
language : en
Publisher: MIT Press
Release Date : 2012-02-24

In The Wake Of The Crisis written by Olivier Blanchard and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-02-24 with Business & Economics categories.

Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner

Fiscal Consolidation During Times Of High Unemployment

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Author : Ruy Lama
language : en
Publisher:
Release Date : 2015

Fiscal Consolidation During Times Of High Unemployment written by Ruy Lama and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.

Chipping Away At Public Debt

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Author : Paolo Mauro
language : en
Publisher: John Wiley & Sons
Release Date : 2011-06-17

Chipping Away At Public Debt written by Paolo Mauro and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-17 with Business & Economics categories.

Path-breaking research on one of the most important macroeconomic policy challenges in the post-crisis world, presented in accessible language Written and researched by a team of experts from the International Monetary Fund, other policy-making institutions, and academia, this timely book looks at fiscal adjustment plans in advanced economies, comparing the planned or projected reductions in debts and deficits to the actual outcomes, and explaining why objectives were met in some cases but missed in others. An overview reveals pitfalls to avoid and lessons learned for securing successful fiscal adjustment. Written by experts in the field Addresses public concern about skyrocketing government debts Contains cutting edge research that changes the way we look at fiscal adjustment Presents meticulous archival research in compelling and engaging case studies Explores lessons learned and policy implications going forward Includes country coverage of all G7 and European Union economies Educating and informing investors, economists, and the general public, this important book looks at why some attempts to curb debts and deficits succeed whereas others fail, as well as how to ensure successful fiscal adjustment in the period ahead.

Towards Convergence In Europe

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Author : Daniel Vaughan-Whitehead
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019

Towards Convergence In Europe written by Daniel Vaughan-Whitehead 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 2019 with Convergence categories.

This book aims to answer a number of important questions. To what extent have European countries converged or diverged with EU-wide economic and social indicators over the past 20 years? What have been the drivers of convergence? Why do some countries lag behind, while others experience continuous upward convergence? Why are these trajectories not always linear? Particular attention is paid to the role of institutions, actors and industrial relations – focusing on the resources and strategies of governments, employers and trade unions – in nudging EU countries onto an upward convergence path.

Monetary Policy Financial Crises And The Macroeconomy

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Author : Frank Heinemann
language : en
Publisher: Springer
Release Date : 2017-09-29

Monetary Policy Financial Crises And The Macroeconomy written by Frank Heinemann and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-29 with Business & Economics categories.

This volume investigates different aspects of monetary policy and prevention of financial crises. It discusses some recently suggested measures for central banks' responses to liquidity shortages and to the liquidity trap, methods for assessing the potential of crisis contagion via the interbank network, and the interaction between micro- and macro-prudential regulation. It compares different approaches for solving the Eurozone sovereign-debt problem and provides a new and intriguing explanation for rising income inequality. The authors are experts on monetary policy, financial crises, and contract theory from different European universities and central banks.

Fiscal Consolidation During Times Of High Unemployment

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