Fiscal Monitor October 2022
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Fiscal Monitor October 2022
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2022-10-12
Fiscal Monitor October 2022 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 2022-10-12 with Business & Economics categories.
The report explores how fiscal policy can foster resilience by protecting households against large income and employment losses. Governments face increasingly difficult trade-offs in tackling the spikes in food and energy prices when policy buffers are largely exhausted after two years of pandemic. They should prioritize protecting vulnerable groups through targeted support while keeping a tight fiscal stance to help reduce inflation. Building fiscal buffers in normal times would allow governments to respond swiftly and flexibly during adversities. Several fiscal tools, such as job-retention schemes, have proven useful to preserve jobs and income for workers. Social safety nets should be made more readily scalable and better targeted, leveraging digital technologies. Exceptional support to firms should be reserved for severe situations and requires sound fiscal risk management.
Fiscal Monitor October 2024
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-10-23
Fiscal Monitor October 2024 written by International Monetary Fund. Fiscal Affairs 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 2024-10-23 with Business & Economics categories.
Global public debt is elevated. It is projected to exceed US$100 trillion in 2024 and will rise over the medium term. This chapter shows that risks to the debt outlook are heavily tilted to the upside. In a severely adverse scenario, global debt is estimated to be nearly 20 percentage points of GDP higher three years ahead than the baseline projection, reaching 115 percent of GDP. Much larger fiscal adjustments than currently planned are required to stabilize (or reduce) debt with high probability. Now is an opportune time for rebuilding fiscal buffers and delaying is costly. Rebuilding fiscal buffers in a growth-friendly manner and strengthening fiscal governance is essential to ensure sustainable public finances and financial stability.
The Age Of Global Economic Crises
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Author : Juan Manuel Matés-Barco
language : en
Publisher: Taylor & Francis
Release Date : 2023-06-02
The Age Of Global Economic Crises written by Juan Manuel Matés-Barco and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-02 with Business & Economics categories.
The frequency and repetition of economic crises over the last hundred years demands an analysis that allows us to discover the root causes of these situations and the problems they have generated in the world economy. This book investigates these cycles throughout the 20th and the early 21st century. Economic crises can be the result of political or military conflict, but they have also been the consequence of bad practices, unbridled speculation, excessive greed, or poor management by the rulers and leaders of nations. The contributors to this volume analyse the causes and consequences of economic crises from the Great Depression to the present day, incorporating post-World War II reconstruction, the oil crisis of the 1970s and the “lost” Latin American decade of the 1980s, among others. This longer-term view allows the book to provide insights into understanding economic cycles in the long run, not just at a specific moment in time, and the ways in which they have spread internationally. This historical analysis also helps to shed new light on the current Covid-impacted situation, as it provides another reading of the main crises of recent centuries and their causes and consequences, as well as the measures and policies adopted to overcome the difficulties. This book will be of significant interest to readers in economic history, business history, politics, and economics and history more broadly.
Fiscal Monitor April 2024
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2024-04-10
Fiscal Monitor April 2024 written by International Monetary 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 2024-04-10 with Business & Economics categories.
Even as the global economic outlook is stabilizing, fiscal policy continues to struggle with legacies of high debt and deficits, while facing new challenges. Public finances risks are acute this year as over 80 economies and economic areas are holding elections, amid increased support for high government spending. Financing conditions remain challenging, while spending pressures to address structural challenges are becoming more pressing. Countries should boost long-term growth with a well-designed fiscal policy mix to promote innovation more broadly, including fundamental research, and facilitate technology diffusion. Durable fiscal consolidation efforts are needed to safeguard sustainable public finances and rebuild buffers.
Fiscal Monitor October 2018
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-10
Fiscal Monitor October 2018 written by International Monetary Fund. Fiscal Affairs 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 2018-10-10 with Business & Economics categories.
Public sector balance sheets provide the most comprehensive picture of public wealth. They bring together all the accumulated assets and liabilities that the government controls, including public corporations, natural resources, and pension liabilities. They thus account for the entirety of what the state owns and owes, offering a broader fiscal picture beyond debt and deficits. Most governments do not provide such transparency, thereby avoiding the additional scrutiny it brings. Better balance sheet management enables countries to increase revenues, reduce risks, and improve fiscal policymaking. There is some empirical evidence that financial markets are increasingly paying attention to the entire government balance sheet and that strong balance sheets enhance economic resilience. This issue of the Fiscal Monitor presents a new database that shows comprehensive estimates of public sector assets and liabilities for a broad sample of 31 countries, covering 61 percent of the global economy, and provides tools to analyze and manage public wealth. Estimates of public wealth reveal the full scale of public assets and liabilities. Assets are worth US$101 trillion or 219 percent of GDP in the sample. This includes 120 percent of GDP in public corporation assets. Also included are natural resources that average 110 percent of GDP among the large natural-resource-producing countries. Recognizing these assets does not negate the vulnerabilities associated with the standard measure of general government public debt, comprising 94 percent of GDP for these countries. This is only half of total public sector liabilities of 198 percent of GDP, which also includes 46 percent of GDP in already accrued pension liabilities. Once governments understand the size and nature of public assets, they can start managing them more effectively. Potential gains from better asset management are considerable. Revenue gains from nonfinancial public corporations and government financial assets alone could be as high as 3 percent of GDP a year, equivalent to annual corporate tax collections across advanced economies. In addition, considerable gains could be realized from government nonfinancial assets. Public assets are a significant resource, and how governments use and report on them matters, not just for financial reasons, but also in terms of improving service delivery and preventing the misuse of resources that often results from a lack of transparency.
Fiscal Monitor October 2017
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-10-11
Fiscal Monitor October 2017 written by International Monetary Fund. Fiscal Affairs 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 2017-10-11 with Business & Economics categories.
At the global level, inequality has declined substantially over the past three decades, but within national boundaries, the picture is mixed: some countries have experienced a reduction in inequality while others, particularly advanced economies, have seen a significant increase that has, among other things, contributed to growing public backlash against globalization. Excessive levels of inequality can erode social cohesion, lead to political polarization, and ultimately lower economic growth, but whether inequality is excessive depends on country-specific factors, including the growth context in which inequality arises, along with societal preferences. This Fiscal Monitor focuses on how fiscal policy can help governments address high levels of inequality while minimizing potential trade-offs between efficiency and equity. It documents recent trends in income inequality, including inequality both between and within countries, then examines the redistributive role of fiscal policies over recent decades and underscores the importance of appropriate design to minimize any efficiency costs. It then focuses on some key components of fiscal redistribution: progressivity of income taxation, universal basic income, and public spending policies for achieving more equitable education and health outcomes. The analysis relies on the existing theoretical and empirical literature, IMF work on inequality and fiscal policy, country experiences, and new analytical work, including various static microsimulation analyses based on household survey data. Simulations using a dynamic general equilibrium model calibrated to country-specific data and behavioral parameters illustrate the potential impact of alternative budget-neutral tax and transfer measures on income inequality and economic growth.
Fiscal Monitor April 2025
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-04-23
Fiscal Monitor April 2025 written by International Monetary 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 2025-04-23 with categories.
Escalating uncertainty and policy shifts are reshaping the fiscal outlook. Global public debt projections have been revised upwards, while tariffs, uncertainty and market volatility, increased defense spending, and challenging foreign aid are intensifying risks. Countries must implement gradual fiscal adjustments within credible medium-term frameworks to reduce debt and build buffers against heightened uncertainty. Reforms to major expenditure programs, such as energy subsidies and pensions, are crucial to reducing fiscal vulnerabilities while fostering growth. Stakeholder acceptance is critical for advancing such reforms. Shoring up public support requires strategic design, effective communication, robust safety nets, and trust in governance.
Fiscal Monitor October 2019
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-10-10
Fiscal Monitor October 2019 written by International Monetary Fund. Fiscal Affairs 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 2019-10-10 with Business & Economics categories.
This report emphasizes the environmental, fiscal, economic, and administrative case for using carbon taxes, or similar pricing schemes such as emission trading systems, to implement climate mitigation strategies. It provides a quantitative framework for understanding their effects and trade-offs with other instruments and applies it to the largest advanced and emerging economies. Alternative approaches, like “feebates” to impose fees on high polluters and give rebates to cleaner energy users, can play an important role when higher energy prices are difficult politically. At the international level, the report calls for a carbon price floor arrangement among large emitters, designed flexibly to accommodate equity considerations and constraints on national policies. The report estimates the consequences of carbon pricing and redistribution of its revenues for inequality across households. Strategies for enhancing the political acceptability of carbon pricing are discussed, along with supporting measures to promote clean technology investments.
Contemporary Issues And Challenges In Public Financial Management
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Author : Richard Allen
language : en
Publisher: Springer Nature
Release Date : 2025-04-02
Contemporary Issues And Challenges In Public Financial Management written by Richard Allen and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-04-02 with Business & Economics categories.
Public financial management (PFM) has gone through a period of intense change since the Global Financial Crisis (GFC) of 2008-2009 and its aftermath. The implications from the GFC alongside the Covid-19 crisis, the Ukraine-Russia war, and the associated energy crises have had profound implications for how countries conduct their fiscal, tax, and budgetary policies. There has also been a huge growth of interest in “green” fiscal policy, in the challenges of income and gender inequality, and in the management of public infrastructure, and in digitalization. This book offers a deeper and more selective analysis of PFM topics that have either been profoundly affected by the GFC and subsequent crises or have dramatically transformed or evolved for other reasons. Itdiscusses the extent to which these developments have led to improvements in countries’ fiscal and budgetary performance. Written by top academics or practitioners in the field, this book tackles the main issues of fiscal governance and its nexus with climate change, anti-corruption, and financial crisis. It will be of interest to academics, researchers, students, and practitioners of public financial management and public finance.
Fiscal Monitor April 2022
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2022-04-20
Fiscal Monitor April 2022 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 2022-04-20 with Business & Economics categories.
Chapter 1 discusses how fiscal policy operates amid a sharp rise in uncertainty caused by the war in Ukraine. Chapter 2 discusses how international coordination on tax matters can support revenue, inclusion, tax transparency, and greener economies.