How To Measure The Fiscal Deficit

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How To Measure The Fiscal Deficit

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Author : Mr.Mario I. Bléjer
language : en
Publisher: International Monetary Fund
Release Date : 1991-09-15

How To Measure The Fiscal Deficit written by Mr.Mario I. Bléjer 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 1991-09-15 with Business & Economics categories.

Fiscal policy seeks to equilibrate the public sector's financing needs with the private sector's demand for investment and a sustainable balance of payments. Correct measurement of the public sector's net use of resources is therefore an important prerequisite for managing the macroeconomy. This volume, edited by Mario I. Blejer and Adrienne Cheasty, is organized around four issues: the adequacy of summary measures of the fiscal deficit, conventional and adjusted deficits, coverage (size) of the public sector, and the public sector's intertemporal budget constraint.

Analytical And Methodological Issues In The Measurement Of Fiscal Deficits

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1990-11-01

Analytical And Methodological Issues In The Measurement Of Fiscal Deficits 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 1990-11-01 with Business & Economics categories.

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Measurement Of Fiscal Impact

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1988-06-16

Measurement Of Fiscal Impact 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 1988-06-16 with Business & Economics categories.

This paper describes methodological issues pertaining to measurement of fiscal impact. The fiscal deficit is, under any circumstances, a crude tool for assessing the impact of fiscal policy on the economy. This paper also analyzes various ways in which the conventional definition of the fiscal deficit is affected by high rates of inflation. It has shown that, as the rate of inflation rises, the picture emerging from the conventional measure may, under certain circumstances, become somewhat blurred since the conventional measure may magnify the size of the fiscal adjustment that a country need. In fact, the size of the debt service that compensates bondholders for the reduction in the real value of their assets arising from inflation should be made explicit so as to indicate that part of the deficit whose impact depends mainly on portfolio decisions regarding the public's demand for government bonds, and on the potential effects of these bonds on the monetary and liquidity conditions of the economy.

Defining The Government S Debt And Deficit

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Author : Mr.Timothy Irwin
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-20

Defining The Government S Debt And Deficit written by Mr.Timothy Irwin 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 2015-11-20 with Business & Economics categories.

Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, general government, and the public sector, and, for any definition of government, there are many measures of the debt and deficit, including those generated by four kinds of accounts (cash, financial, full accrual, and comprehensive), which can be derived from four nested sets of assets and liabilities. Each debt and deficit measure says something about public finances, but none tells the whole story. Each is also vulnerable to manipulation, and is likely to be manipulated if it is subject to a binding fiscal rule or target. Narrow definitions of government encourage the shifting of spending to entities outside the defined perimeter of government. Narrow definitions of debt and deficit encourage operations involving off-balance-sheets assets and liabilities, while broad measures are susceptible to the mismeasurement of on-balance-sheet assets and liabilities. Reviewing the literature on these issues, the paper concludes that governments should publish several measures of the debt and deficit in a form that clearly reveals their interrelationships.

Inflation And The Measurement Of Fiscal Deficits

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Author : Mario Teijeiro
language : en
Publisher:
Release Date : 2006

Inflation And The Measurement Of Fiscal Deficits written by Mario Teijeiro and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

The very high rates of inflation experienced by several developing countries in recent years have raised questions about the usefulness of the conventional (cash) measure of the fiscal deficit as a gauge of the fiscal adjustment that a country needs. Economists have divided themselves in two groups: those who believe that regardless of inflation, the conventional measure is still the relevant one; and those who maintain that only a measure that excludes from the deficit the part of interest payments that compensates bondholders for inflation is the correct one. This paper analyzes the issues involved and concludes that neither measure gives the right signal so that both ought to be calculated when the rate of inflation is high.

Analytical And Methodological Issues In The Measurement Of Fiscal Deficits

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Author : Adrienne Cheasty
language : en
Publisher:
Release Date : 2006

Analytical And Methodological Issues In The Measurement Of Fiscal Deficits written by Adrienne Cheasty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

This paper surveys various measures of the fiscal deficit. Issues addressed include: the definition of the deficit in a public sector of a given coverage (the conventional deficit, the current deficit, the domestic deficit, the operational deficit, etc.); the coverage and composition of the public sector; and present value approaches to deficit measurement.

Fiscal Deficits And Current Account Deficits

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Author : Mr.Michael Kumhof
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-01

Fiscal Deficits And Current Account Deficits written by Mr.Michael Kumhof 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 2009-10-01 with Business & Economics categories.

The effectiveness of recent fiscal stimulus packages significantly depends on the assumption of non-Ricardian savings behavior. We show that, under the same assumption, fiscal deficits can have worrisome implications if they turn out to be permanent. First, if they occur in large countries they significantly raise the world real interest rate. Second, they cause a short run current account deterioration equal to around 50 percent of the fiscal deficit deterioration. Third, the longer run current account deterioration equals almost 75 percent for a large economy such as the United States, and almost 100 percent for a small open economy.

Defining The Government S Debt And Deficit

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Author : Mr.Timothy C Irwin
language : zh-CN
Publisher: International Monetary Fund
Release Date : 2016-11-17

Defining The Government S Debt And Deficit written by Mr.Timothy C Irwin 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 2016-11-17 with Business & Economics categories.

Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, general government, and the public sector, and, for any definition of government, there are many measures of the debt and deficit, including those generated by four kinds of accounts (cash, financial, full accrual, and comprehensive), which can be derived from four nested sets of assets and liabilities. Each debt and deficit measure says something about public finances, but none tells the whole story. Each is also vulnerable to manipulation, and is likely to be manipulated if it is subject to a binding fiscal rule or target. Narrow definitions of government encourage the shifting of spending to entities outside the defined perimeter of government. Narrow definitions of debt and deficit encourage operations involving off-balance-sheets assets and liabilities, while broad measures are susceptible to the mismeasurement of on-balance-sheet assets and liabilities. Reviewing the literature on these issues, the paper concludes that governments should publish several measures of the debt and deficit in a form that clearly reveals their interrelationships.

How Small Should An Economy S Fiscal Deficit Be

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Author : Paul Ely Beckerman
language : en
Publisher: World Bank Publications
Release Date : 2000

How Small Should An Economy S Fiscal Deficit Be written by Paul Ely Beckerman 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 2000 with Bank assets categories.

A spreadsheet planning model to help determine the government deficit consistent with a specified vector of country macroeconomic objectives.

Fiscal And Quasi Fiscal Deficits Nominal And Real

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Author : Roberto Rezende Rocha
language : en
Publisher: World Bank Publications
Release Date : 1992

Fiscal And Quasi Fiscal Deficits Nominal And Real written by Roberto Rezende Rocha 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 1992 with Banca central categories.