Pressure Or Prudence Tales Of Market Pressure And Fiscal Adjustment
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Pressure Or Prudence Tales Of Market Pressure And Fiscal Adjustment
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Author : Mr.Salvatore Dell'Erba
language : en
Publisher: International Monetary Fund
Release Date : 2013-07-17
Pressure Or Prudence Tales Of Market Pressure And Fiscal Adjustment written by Mr.Salvatore Dell'Erba 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 2013-07-17 with Business & Economics categories.
We study whether multiyear fiscal adjustment plans in 17 OECD countries during 1980-2011 have been associated with market pressure. We find that only a third (34 percent) of the consolidations occurred under market pressure, suggesting that market pressure is important but not the main element associated with consolidation plans. Many adjustments under market pressure were also clustered around external shocks, and entailed larger median fiscal adjustments than other multiyear consolidations. In contrast, we find that virtually all multiyear consolidations aimed at reducing budget deficits occurred with initially weak macro-fiscal fundamentals.
Medium Term Fiscal Multipliers During Protracted Recessions
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Author : Mr.Salvatore Dell'Erba
language : en
Publisher: International Monetary Fund
Release Date : 2014-12-05
Medium Term Fiscal Multipliers During Protracted Recessions written by Mr.Salvatore Dell'Erba 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 2014-12-05 with Business & Economics categories.
The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda’s (2005) local projection methodology, we find that cumulative fiscal multipliers related to output, employment and unemployment at five-year horizons are significantly above one during PR episodes. These results suggest that medium-term fiscal consolidation plans to reduce public debt burdens should proceed gradually if economic activity remains below trend for a prolonged period.
Society At A Glance 2014 Oecd Social Indicators
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2014-03-18
Society At A Glance 2014 Oecd Social Indicators written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-18 with categories.
The biennial OECD overview of social indicators.
Sovereign Debt Composition In Advanced Economies
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Author : S. M. Ali Abbas
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-09
Sovereign Debt Composition In Advanced Economies written by S. M. Ali Abbas 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 2014-09-09 with Business & Economics categories.
We examine how the composition of public debt, broken down by currency, maturity, holder profile and marketability, has responded to major debt accumulation and consolidation episodes during 1900-2011. Covering thirteen advanced economies, we focus on debt structure shifts that occurred around the two World Wars and global economic downturns, and the subsequent debt consolidations. Notwithstanding data gaps, we are able to recover some broad common patterns. Episodes of large debt accumulation—essentially, large increases in debt supply— were typically absorbed by increases in short-term, foreign currency-denominated, and banking-system-held debt. However, this pattern did not hold during the debt build-ups starting in the 1980s and 1990s, which were compositionally skewed toward long-term local-currency debt. We attribute this change to higher structural demand for sovereign paper, linked to capital account liberalization in advanced economies, the emergence of a large contractual saving sector, and innovative sovereign debt products. With regard to debt consolidations, we find support for the financial repression-cum-inflation channel for post World War II debt reductions. However, the scope for a repeat of this strategy appears limited unless financial liberalization and globalization were materially rolled back or the current globally agreed monetary policy regime built around price stability abandoned. Neither are significant favorable structural demand shifts, as witnessed in the 1980s and 1990s, likely.
Imf Research Bulletin September 2013
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-09-16
Imf Research Bulletin September 2013 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 2013-09-16 with Business & Economics categories.
The Research Summaries in the September 2013 IMF Research Bulletin focus on “External Conditions and Debt Sustainability in Latin America” (Gustavo Adler and Sebastian Sosa) and “Monetary Policy Cyclicality in Emerging Markets” (Donal McGettigan, Kenji Moriyama, and Chad Steinberg). In the Q&A, Itai Aigur and Sunil Sharma discuss “Seven Questions on Macroprudential Policy Frameworks.” The Research Bulletin also includes an updated listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore, as well as information on a forthcoming conference. The IMF Economic Review’s new Impact Factor is also highlighted.
A Modern History Of Fiscal Prudence And Profligacy
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Author : Mr.Paolo Mauro
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-09
A Modern History Of Fiscal Prudence And Profligacy written by Mr.Paolo Mauro 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 2013-01-09 with Business & Economics categories.
We draw on a newly collected historical dataset of fiscal variables for a large panel of countries—to our knowledge, the most comprehensive database currently available—to gauge the degree of fiscal prudence or profligacy for each country over the past several decades. Specifically, our dataset consists of fiscal revenues, primary expenditures, the interest bill (and thus both the primary and the overall fiscal deficit), the government debt, and gross domestic product, for 55 countries for up to two hundred years. For the first time, a large cross country historical data set covers both fiscal stocks and flows. Using Bohn’s (1998) approach and other tests for fiscal sustainability, we document how the degree of prudence or profligacy varies significantly over time within individual countries. We find that such variation is driven in part by unexpected changes in potential economic growth and sovereign borrowing costs.
Society At A Glance Oecd Social Indicators
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Author : Organization for Economic Cooperation and Development
language : en
Publisher: Organization for Economic Co-Operation & Developme
Release Date : 2014-03-18
Society At A Glance Oecd Social Indicators written by Organization for Economic Cooperation and Development and has been published by Organization for Economic Co-Operation & Developme this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-18 with Business & Economics categories.
The seventh edition of Society at a Glance, the biennial OECD overview of social indicators, this report addresses the growing demand for quantitative evidence on social well-being and its trends. It updates some indicators included in the previous editions published since 2001 and introduces several new ones; in total: 25 indicators. It includes data for the 34 OECD Member countries and where available data for key partners (Brazil, China, India, Indonesia, Russia and South Africa) and for other G20 countries (Argentina and Saudi Arabia). This report features a special chapter on the social impact of the recent crisis (Chapter 1) and provides a guide to help readers understand the structure of OECD social indicators (Chapter 2). All indicators are available as a web book and e-book on OECD iLibrary, as is the related database.
Panorama De La Soci T 2014 Les Indicateurs Sociaux De L Ocde
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Author : OECD
language : fr
Publisher: OECD Publishing
Release Date : 2014-03-20
Panorama De La Soci T 2014 Les Indicateurs Sociaux De L Ocde written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-20 with categories.
Le présent ouvrage est la septième édition de Panorama de la société, recueil d’indicateurs sociaux de l’OCDE. Ce rapport s’efforce de répondre à la demande croissante de données quantitatives sur le bien-être social et ses tendances. Cette septième ...
Siete Siglos De Fraude Fiscal En Europa
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Author : José Ignacio Fortea Pérez
language : es
Publisher: Ed. Universidad de Cantabria
Release Date : 2020-11-13
Siete Siglos De Fraude Fiscal En Europa written by José Ignacio Fortea Pérez and has been published by Ed. Universidad de Cantabria this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-13 with History categories.
El proceso de creación de las formaciones políticas se vio acompañado siempre por la voluntad de extender al conjunto de la sociedad la obligación de contribuir a las cargas públicas, pero, semejante pretensión también movió a los contribuyentes a tratar de minimizar o eludir el impacto del esfuerzo que se les exigía. El problema se agudizaba en el caso de aquellas formaciones sociopolíticas en las que, como ocurría en el Antiguo Régimen, el privilegio de la exención fiscal estaba indisolublemente unido a su misma estructura. La abolición de esta situación de privilegio en el tránsito a la Revolución Liberal no anuló por entero la propensión a defraudar, pero sí forzó a su reformulación y a su represión. Es propósito de este libro abordar desde una perspectiva interdisciplinar el estudio del fraude fiscal a lo largo de la historia, desde su inicial formulación medieval en términos fundamentalmente morales, hasta su posterior redefinición desde el punto de vista del derecho y de la política. El fraude fiscal será abordado, así, en un contexto europeo y específicamente español tanto en sus aspectos teóricos –la noción de fraude y sus diversas interpretaciones–, como prácticos –los mecanismos de defraudación utilizados tanto por los contribuyentes y los propios administradores– institucionales –los mecanismos de denuncia, control y represión del fraude– y sociales –el análisis de la tolerancia social como fenómeno histórico ante los comportamientos defraudadores–.
Society At A Glance 2014 Oecd Social Indicators Korean Version
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Author : OECD
language : ko
Publisher: OECD Publishing
Release Date : 2014-09-09
Society At A Glance 2014 Oecd Social Indicators Korean Version written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-09 with categories.
This is the seventh edition of Society at a Glance, the OECD overview of social indicators. It provides quantitative evidence on social wellbeing and trends around the world, from the 34 OECD member countries as well as Brazil, China, India, Indonesia, Russian Federation, South Africa, Argentina and Saudi Arabia, as available. Measures are included for household income, fertility, migration, family, old age support, employment, youth unemployment, education spending, expected years in retirement, income inequality, poverty, welfare receipt, social spending, life expectancy, health status, suicide, health expenditure, coverage of health care, life satisfaction, tolerance, confidence in institutions, safety and crime, and altruism. The impact of the global financial crisis is also discussed. Findings are also available as an online database.