This paper considers the merits of reducing or eliminating some specific tax expenditure measures currently in force in the United States with a view to reducing the federal fiscal deficit. The paper starts from the observation that savings decisions in the United States are distorted and that...

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also outlines efficient operational procedures and reviews the experiences of Canada, the Czech Republic, and India. The analysis...

Public investment supports the delivery of key public services, connects citizens and firms to economic opportunities, and can serve as an important catalyst for economic growth. After three decades of decline, public investment has begun to recover as a share of GDP in emerging markets (EMs)...

The quota database has been updated by one year through 2014. Overall, the results of the update continue the broad trends observed in previous updates, but the shifts between the main country groups are generally smaller. Using the current quota formula, the calculated quota share of Emerging...

The IMF staff has updated individual member country data for the variables used in the quota formula for the period 2001-13. The staff paper also presents updated calculated quota shares based on the current quota formula. The current quota formula includes a GDP variable, which is a blend of...