Wage And Public Debt Indexation
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Wage And Public Debt Indexation
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Author : Mr.Pablo Emilio Guidotti
language : en
Publisher: International Monetary Fund
Release Date : 1992-08-01
Wage And Public Debt Indexation written by Mr.Pablo Emilio Guidotti 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 1992-08-01 with Business & Economics categories.
This paper examines the relationship between the degree of wage indexation chosen by private agents and the degree of indexation of the public debt. It is shown that the government is likely to respond to an increase in the degree of wage indexation by increasing the portion of the public debt that is indexed. By contrast, the effect of an increase in public debt indexation on the degree of wage indexation is ambiguous. In equilibrium, depending on the sources of shocks to the economy, the degree of wage indexation may be positively or negatively related to that of debt indexation. This relationship is analyzed both in situations where the policymakers are able to precommit policies and in those where precommitment is not possible.
Imf Staff Papers
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1993-01-01
Imf Staff Papers 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 1993-01-01 with Business & Economics categories.
The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.
Wage And Public Debt Indexation
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Author : Fondo Monetario Internacional
language : es
Publisher:
Release Date : 1992
Wage And Public Debt Indexation written by Fondo Monetario Internacional and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
Public Debt Indexation And Denomination
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Author : Ilan Goldfajn
language : en
Publisher: International Monetary Fund
Release Date : 1998-02
Public Debt Indexation And Denomination written by Ilan Goldfajn 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 1998-02 with Business & Economics categories.
Since the Real plan of 1994, the Brazilian economy has been in the process of reducing its degree of indexation. For more than three decades, Brazilian wages, rents, financial securities and other contracts were indexed to the price level. At times the frequency of adjustment reached monthly intervals and even daily, as in the case of some financial securities.
Indexation Inflation And Monetary Policy
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Author : Fernando Lefort
language : en
Publisher:
Release Date : 2002
Indexation Inflation And Monetary Policy written by Fernando Lefort and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Indexation (Economics) categories.
Public Debt Indexation And Denomination
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Author : Mr.Ilan Goldfajn
language : en
Publisher: International Monetary Fund
Release Date : 1998-02-01
Public Debt Indexation And Denomination written by Mr.Ilan Goldfajn 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 1998-02-01 with Business & Economics categories.
The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign-denominated debt securities. The model predicts that the variance of inflation, the size of the public debt, the variance of the real exchange rate, and the correlation of inflation with public expenditures are the main determinants of public debt management. Using this framework, the paper analyzes the Brazilian experience with indexed debt in the last decade. In particular, it explains the large increase of indexed public debt in Brazil prior to the 1994 Real plan and, thereafter, the steady decline in its use.
Guidelines For Public Debt Management Amended
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-09-12
Guidelines For Public Debt Management Amended 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 2003-09-12 with Business & Economics categories.
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The Management Of An Open Economy With 100 Plus Wage Indexation
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Author : Franco Modigliani
language : en
Publisher:
Release Date : 1978
The Management Of An Open Economy With 100 Plus Wage Indexation written by Franco Modigliani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Business & Economics categories.
Public Sector Debt Statistics
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-12-08
Public Sector Debt Statistics 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 2011-12-08 with Business & Economics categories.
The global financial crisis of recent years and the associated large fiscal deficits and debt levels that have impacted many countries underscores the importance of reliable and timely government statistics and, more broadly, public sector debt as a critical element in countries fiscal and external sustainability. Public Sector Debt Statistics is the first international guide of its kind, and its primary objectives are to improve the quality and timeliness of key debt statistics and promote a convergence of recording practices to foster international comparability and as a reference for national compilers and users for compiling and disseminating these data. Like other statistical guides published by the IMF, this one was prepared in consultation with countries and international agencies, including the nine organizations of the Inter-Agency Task Force on Finance Statistics (TFFS). The guide's preparation was based on the broad range of experience of our institutions and benefitted from consultation with national compilers of government finance and public sector debt statistics. The guide's concepts are harmonized with those of the System of National Accounts (2008) and the Balance of Payments and International Investment Position Manual, Sixth Edition.
Fiscal Consolidation And Public Wages
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Author : Juin-Jen Chang
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-10
Fiscal Consolidation And Public Wages written by Juin-Jen Chang 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 2019-06-10 with Business & Economics categories.
A New Keynesian model with government production, public compensation, and unemployment is fit to U.S. data to study the macroeconomic and fiscal effects of public wage reductions. We find that accounting for the type of government spending is crucial for its macroeconomic implications. Although reductions in public wages and government purchases of goods have similar effects on total output and the fiscal balance, the former can raise private output slightly, in contrast to the substantial contractionary effects of the latter. In addition, the baseline estimation finds that exogenous public wage reductions decrease private wages. Model counterfactuals show that sufficiently rigid nominal private wages can reverse the response of private wages, as the rigidity dampens the labor reallocation effect from the public to private sector that exerts downward pressure on private wages.