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International Monetary Fund Managing Director Christine Lagarde delivered this address at the Library of Congress as part of the Library's Henry A. Kissinger Lecture Series in Washington, D.C. on December 4, 2018
Persistent link: https://www.econbiz.de/10014408376
This paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. In the author’s framework, the social merits of public education schemes are related to the lack of markets in which students can insure against educational...
Persistent link: https://www.econbiz.de/10014400865
This Selected Issues paper focuses on the medium-term budgetary framework (MTBF) for Austria. Austria is part of a trend among many countries to consider some form of MTBF. This paper describes the proposed framework in Austria and assesses it in light of the experience of other countries. The...
Persistent link: https://www.econbiz.de/10014404925
This Selected Issues paper for Belgium evaluates whether price increases in Belgium are excessive. It assesses the household and bank balance sheets and their vulnerability to a slowdown in housing prices, and identifies differences in real estate markets between Belgium and other countries. The...
Persistent link: https://www.econbiz.de/10014405076
developments in Austria’s economic linkages with Germany and the Central and Eastern European countries (CEECs). It finds that … there has been delinking from Germany, albeit measured, while economic relationships with key CEEC trading partners have … become stronger. The paper also discusses the dynamics of Austria’s economic linkages with Germany, and examines these …
Persistent link: https://www.econbiz.de/10014406061
Belgium has effected a remarkable fiscal adjustment, best illustrated by the decline in its public debt. While benefiting from an appreciable decline in interest rates, most of the underlying consolidation reflected a considerable increase in the tax burden, one of the highest in the...
Persistent link: https://www.econbiz.de/10014406109
This Selected Issues paper analyzes fiscal devolution in Belgium. It examines long-term fiscal strategies for meeting the fiscal burden of population aging. The paper presents estimates of the fiscal costs of population aging in Belgium, and discusses their sensitivity to underlying assumptions....
Persistent link: https://www.econbiz.de/10014406500
Austria’s federal system comprises the federal government and nine provinces (Länder). The federal system is rather centralized by international standards, with the federal government (including social security funds) accounting for about 70 percent of general government spending, the...
Persistent link: https://www.econbiz.de/10014406820
This Selected Issues paper focuses on the fiscal challenge for Belgium in coping with population aging, including the sustainability of prevailing fiscal federalism arrangements across all levels of governments. The analysis demonstrates that the current strategy of upfront consolidation is...
Persistent link: https://www.econbiz.de/10014406872
This Selected Issues paper for Austria reports the impact of the government size, in addition to tax and expenditure composition, on real GDP growth. In addition to having a large public sector relative to the European Union (EU) 15 average, the composition of revenues is skewed, on the one...
Persistent link: https://www.econbiz.de/10014406932