From Stimulus To Consolidation
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From Stimulus To Consolidation
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Author : Mr.Benedict J. Clements
language : en
Publisher: International Monetary Fund
Release Date : 2010-10-06
From Stimulus To Consolidation written by Mr.Benedict J. Clements 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 2010-10-06 with Business & Economics categories.
This paper identifies policy tools that could be used for fiscal consolidation in advanced and emerging economies in the years ahead. The consolidation strategy, particularly in advanced countries, should aim to stabilize age-related spending in relation to GDP, reduce non-age-related expenditure ratios, and increase revenues. Bold reforms are needed to offset projected increases in age-related spending, particularly health care. On the revenue side, measures could include improving tax compliance, for example through better international cooperation, as well as increasing the yield from VAT by eliminating exemptions and reduced rates, further developing property taxes, and increasing excise rates within the range of rates already applicable in comparable countries.
From Stimulus To Consolidation Revenue And Expenditure Policies In Advanced And Emerging Economies
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Author : International Monetary Fund. Finance Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2010-06-07
From Stimulus To Consolidation Revenue And Expenditure Policies In Advanced And Emerging Economies written by International Monetary Fund. Finance 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 2010-06-07 with Business & Economics categories.
This review marks the 10th anniversary of the safeguards policy. Introduced in March 2000, the policy’s main objective is to mitigate potential risks of misuse of resources, including Fund resources, and misreporting of monetary program data. The policy was last reviewed in 2005, when the Executive Board re-affirmed the effectiveness of the policy, and its application to central banks. In keeping with previous reviews, a panel of experts was invited to provide advice for the Executive Board on the implementation of the policy, and recommendations to guide the focus and application of the policy going forward.
The Economic Effects Of Fiscal Consolidation With Debt Feedback
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Author : Mr.Marcello M. Estevão
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-31
The Economic Effects Of Fiscal Consolidation With Debt Feedback written by Mr.Marcello M. Estevão 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 2013-05-31 with Business & Economics categories.
The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for fiscal consolidation. To evaluate the delicate balance between stimulus and consolidation requires measuring the size of fiscal multipliers, which often depends on having quarterly data so that exogenous fiscal policy shocks can be identified. We estimate fiscal multipliers using a novel methodology for identifying fiscal shocks within a structural vector autoregressive approach using annual data while controling for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and uses results for advanced economies, emerging market countries, and other broad groupings for which alternative estimates are available to validate the methodology. Differently from advanced and emerging market economies, fiscal consolidation in low-income countries has only a small temporary negative effect on growth while raising medium-term output. Shifting the composition of public spending toward capital expenditure further supports long-run growth.
How Delaying Fiscal Consolidation Affects The Present Value Of Gdp
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Author : Mr.Kevin Fletcher
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-05
How Delaying Fiscal Consolidation Affects The Present Value Of Gdp written by Mr.Kevin Fletcher 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 2015-03-05 with Business & Economics categories.
We develop a simple model to examine the conditions under which delaying fiscal consolidation can affect the present value of GDP via the fiscal stance’s effects on the output gap and hysteresis. We find that the absolute size of the fiscal multiplier—the focus of much empirical investigation and policy debate—is likely inconsequential in this regard. Rather, what matters is the degree to which the multiplier during the initial period of fiscal stimulus differs from the multiplier when the stimulus is withdrawn. If the multiplier is constant over time, delaying consolidation is unlikely to significantly boost the present value of GDP via effects on the output gap and hysteresis. The potential success of such efforts relies instead on exploiting time-variation in multipliers.
Strategies For Fiscal Consolidation In The Post Crisis World
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Author : Mr.Mauricio Villafuerte
language : en
Publisher: International Monetary Fund
Release Date : 2010-09-17
Strategies For Fiscal Consolidation In The Post Crisis World written by Mr.Mauricio Villafuerte 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 2010-09-17 with Business & Economics categories.
In response to the global financial crisis, governments provided substantial support to the financial and other key sectors. Although this cushioned the adverse effects of the crisis, it is necessary now to articulate a strategy to ensure the sustainability of public finances. This paper discusses the scale and composition of fiscal adjustment that will need to occur once the recovery is securely under way. Although specific country-level circumstances will influence the composition of the adjustment and its political feasibility, in many cases restoring fiscal sustainability will require reforms to reduce spending and increase tax revenue.
An Empirical Analysis Of Fiscal Adjustments
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Author : Mr.C. John McDermott
language : en
Publisher: International Monetary Fund
Release Date : 1996-06-01
An Empirical Analysis Of Fiscal Adjustments written by Mr.C. John McDermott 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 1996-06-01 with Business & Economics categories.
This study uses the fiscal expansion and consolidation experiences of the industrial countries over the period 1970 to 1995 to examine the interplay between fiscal adjustments and economic performance. A key finding is that fiscal consolidation need not trigger an economic slowdown. Fiscal consolidation that concentrates on the expenditure side, and especially on transfers and government wages, is more likely to succeed in reducing the public debt ratio than tax-based consolidation. Also, the greater the magnitude of the fiscal consolidation, the more likely it is to succeed in reducing the debt ratio.
The Political Economy Of Fiscal Consolidation In Japan
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Author : Toshihiro Ihori
language : en
Publisher: Springer
Release Date : 2014-11-21
The Political Economy Of Fiscal Consolidation In Japan written by Toshihiro Ihori and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-21 with Business & Economics categories.
This book investigates the reasons for persistent public deficits and delayed fiscal reform in Japan, placing a special emphasis on political economy aspects. Japan is confronted with the need to pursue fiscal discipline for fiscal consolidation and implement structural reforms for reorganizing fiscal expenditures. Focusing on particular policy fields including social security, female labor supply, public works, and intergovernmental transfer schemes, the book clarifies economic and political elements that have hindered effective steps toward these two goals. Facing population aging and a business downturn, the Japanese government was urged to increase social security expenditures and the budget for Keynesian stimulus policies. As elucidated in the book, the institutional design has worked to over-represent the demands of elderly generations and local interest groups and to expand these expenditures. Rigorous theoretical and numerical analyses reported throughout the book consequently provide readers with insights into incentive designs and institutional reforms necessary for fiscal consolidation, also presenting points of view for public policy and public debate.
Land Consolidation And Registration In Kenya
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Author : Bradford Dewan
language : en
Publisher:
Release Date : 1971
Land Consolidation And Registration In Kenya written by Bradford Dewan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1971 with Land titles categories.
Consolidating The Recovery
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2022-04-07
Consolidating The Recovery written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-07 with Business & Economics categories.
The Latin America and the Caribbean region is consolidating its recovery from the COVID†?19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require redress; new variants may appear; rising global inflation presents new policy dilemmas; and the long†?standing reform agenda needed to lay the foundations for renewed and inclusive growth remains pending. Further, the global context is evolving rapidly. Over the medium term, the tragedy unfolding in Ukraine will affect the region through unpredictable channels. Over the longer term, increased global alarm over the pace of climate change raises new policy issues. The region’s contribution to greenhouse gases is modest and can be reduced, but the impact of climate change on its people and productive sectors will require significant adaptation. The good news is that LAC’s unique endowments positions it well to seize emerging green growth opportunities if well†?managed. A key message is that improving the region’s capability to adapt and innovate needs to be placed at the center of both the growth and greening agendas and can generate synergies between them.
Austria
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-09-08
Austria 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 2010-09-08 with Business & Economics categories.
Austria’s recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increases in real wages. Austria’s fiscal position has weakened significantly in recent years, although to a lesser extent than the euro area average. The authorities’ plan to embark on a decisive fiscal consolidation path is welcomed. They recognized, however, that reducing the share of foreign exchange loans, while providing continued financing to central and southeastern Europe, will be challenging.