The Effects Of Inflation On Public Finances

DOWNLOAD

Download The Effects Of Inflation On Public Finances PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get The Effects Of Inflation On Public Finances book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Inflation In Emerging And Developing Economies

DOWNLOAD
Author : Jongrim Ha
language : en
Publisher: World Bank Publications
Release Date : 2019-01-03

Inflation In Emerging And Developing Economies written by Jongrim Ha 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 2019-01-03 with Business & Economics categories.

This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

The Effects Of Inflation On Public Finances

DOWNLOAD
Author : Mr. Daniel Garcia-Macia
language : en
Publisher: International Monetary Fund
Release Date : 2023-05-05

The Effects Of Inflation On Public Finances written by Mr. Daniel Garcia-Macia 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 2023-05-05 with Business & Economics categories.

Does inflation help improve public finances? This paper documents the dynamic responses of fiscal variables to an inflation shock, using both quarterly and annual panel data for a broad set of economies. Inflation shocks are estimated to improve fiscal balances temporarily, as nominal revenues track inflation closely, while nominal primary expenditures take longer to catch up. Inflation spikes also lead to a persistent reduction in debt to GDP ratios, both due to the primary balance improvement and the nominal GDP denominator channel. However, debt only falls with inflation surprises—rises in inflation expectations do not improve debt dynamics, suggesting limits to debt debasement strategies. The results are robust to using various inflation measures and instrumental variables.

The Great Inflation

DOWNLOAD
Author : Michael D. Bordo
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-28

The Great Inflation written by Michael D. Bordo 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 2013-06-28 with Business & Economics categories.

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Macroeconomic Dimensions Of Public Finance

DOWNLOAD
Author : Mario Blejer
language : en
Publisher: Routledge
Release Date : 2002-09-11

Macroeconomic Dimensions Of Public Finance written by Mario Blejer and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-11 with Business & Economics categories.

There is no magic formula for balancing fiscal policy and economic performance. As a scholar and policy advisor, Vito Tanzi has made a major contribution to identifying links between public finance and macro and microeconomic consequences. His findings bear relevance in both developing and industrialized economies. The essays in this volume and its companion, Fiscal Policy and Economic Reform, highlight many of these interconnected issues, for instance: * the interaction between budgetary policy and economic aggregates, such as employment, inflation and growth * the implication of economic linkages for designing fiscal policies * expenditure policies and alternative deficit financing strategies * the trade-offs between macro- and microeconomic objectives The list of contributors includes Max Corden, John Makin, Ronald McKinnon and Richard Musgrave.

The Macroeconomic Effects Of Public Investment

DOWNLOAD
Author : Mr.Abdul Abiad
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-04

The Macroeconomic Effects Of Public Investment written by Mr.Abdul Abiad 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 2015-05-04 with Business & Economics categories.

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.

Reducing Inflation

DOWNLOAD
Author : Christina D. Romer
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01

Reducing Inflation written by Christina D. Romer 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 2007-12-01 with Business & Economics categories.

While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy.

Inflation

DOWNLOAD
Author : Robert E. Hall
language : en
Publisher: University of Chicago Press
Release Date : 2009-05-15

Inflation written by Robert E. Hall 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 2009-05-15 with Business & Economics categories.

This volume presents the latest thoughts of a brilliant group of young economists on one of the most persistent economic problems facing the United States and the world, inflation. Rather than attempting an encyclopedic effort or offering specific policy recommendations, the contributors have emphasized the diagnosis of problems and the description of events that economists most thoroughly understand. Reflecting a dozen diverse views—many of which challenge established orthodoxy—they illuminate the economic and political processes involved in this important issue.

The Future Of State And Local Government Finances

DOWNLOAD
Author : United States. Congress. Joint Economic Committee. Subcommittee on Urban Affairs
language : en
Publisher:
Release Date : 1977

The Future Of State And Local Government Finances written by United States. Congress. Joint Economic Committee. Subcommittee on Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Finance, Public categories.

Public Finance

DOWNLOAD
Author : M. MARIA JOHN KENNEDY
language : en
Publisher: PHI Learning Pvt. Ltd.
Release Date : 2012-03-05

Public Finance written by M. MARIA JOHN KENNEDY and has been published by PHI Learning Pvt. Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-05 with Business & Economics categories.

Public Finance, which focuses on the policies of the government, especially in relation to tax, expenditure and budget, may be considered a very traditional and ‘dry’ subject. However, insofar as it has a huge impact on the national economy and the welfare of the citizens, Public Finance assumes tremendous significance and becomes a challenging and interesting subject of study. Divided into nine parts, this compact and concise text gives a detailed discussion on the nature and scope of public finance, theory of public goods, canons of taxation, types of taxes, theories of taxation, and incidence and shifting of taxation. The book also covers public debt, its management and its burden, government budgeting, budgeting theory and balanced budget. Finally, the text dwells on fiscal federalism, and public enterprises and black money, the last two being so important in the Indian context today. What distinguishes the text is the clear analysis of growth and welfare economics, as these have a crucial bearing on the Indian economy. What is more, the text is interspersed with many examples to illustrate the theory discussed and also gives practical insights. This book is primarily intended as a text for undergraduate students of Economics and Commerce for their course on Public Finance/Public Economics.

The Liquidation Of Government Debt

DOWNLOAD
Author : Ms.Carmen Reinhart
language : en
Publisher: International Monetary Fund
Release Date : 2015-01-21

The Liquidation Of Government Debt written by Ms.Carmen Reinhart 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 2015-01-21 with Business & Economics categories.

High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.