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The economic and financial crisis is affecting the fiscal accounts of virtually every country. Public sector support for the financial system, fiscal stimulus and the automatic stabilizers, as well as the revenue decline from the downturn in commodity and asset prices, are leading to sharp...
Persistent link: https://www.econbiz.de/10010790494
Persistent link: https://www.econbiz.de/10010878426
The main priority was to seek assurances that policies were on track to facilitate a smooth transition to the postprogram environment. A stable exchange rate and continued declines in inflation have allowed reductions in interest rates in support of the economic recovery. With inflation risks...
Persistent link: https://www.econbiz.de/10005598917
This Selected Issues paper for Hungary highlights the monetary policy framework in Hungary and the models used by the central bank (MNB). The MNB’s Quarterly Projection Model combines neo-Keynesian features in the short term with neoclassical features in the long term. It is a two-sector...
Persistent link: https://www.econbiz.de/10011243073
Sweden’s recovery from the global crisis was swift reflecting its strong position at the onset of the crisis. The 2012 Article IV Consultation reports that the economic outlook remains clouded. Executive Directors have commended Sweden’s sustained strong macroeconomic performance,...
Persistent link: https://www.econbiz.de/10011243177
This Selected Issues paper focuses on Japan’s public debt and the challenges facing small- and medium-size enterprises in Japan. Historically, Japan’s public debt has been financed in a fairly smooth manner. The large pool of household savings and the stable domestic institutional...
Persistent link: https://www.econbiz.de/10011243568
This paper discusses key findings of the Third Review Under the Stand-By Arrangement for Hungary. The end-June 2009 quantitative performance criteria, as well as the structural benchmark related to government lending to banks, were all met. The end-June indicative target on central government...
Persistent link: https://www.econbiz.de/10011243612
The staff report for the 2008 Article IV Consultation of Israel on economic developments and policies is examined. Fiscal and monetary credentials have been established in markets. Banks and their supervisory arrangements have been robust, and growth has been strong, sustained, and balanced....
Persistent link: https://www.econbiz.de/10011243740
Poland’s macroeconomic performance was strong during the global crisis, supported by sound economic policies. The previous Flexible Credit Line (FCL) arrangements served the Polish economy well and provided adequate insurance against negative spillover risks. Executive Directors...
Persistent link: https://www.econbiz.de/10011244361
This staff report discusses Israel’s 2009 Article IV Consultation on economic developments and policies. The economy has been shielded from the global downturn by the absence of prior housing or bank credit booms, high household savings rates, and the fact that investment goods and...
Persistent link: https://www.econbiz.de/10011245067