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From Deficit Delusion to the Fiscal Balance Rule

International Monetary Fund - 1989

Although the deficit is a useful construct for Keynesian analyses of fiscal policy, the deficit appears to be a less useful measure of fiscal policy within all but a restricted class of intertemporal neoclassical models. This paper suggests that the nature of deficits in a simple certainty model...

Persistent link: https://www.econbiz.de/10014396350

Inflation Differentials in the EU : A Common ( Factors ) Approach with Implications for EU8 Euro Adoption Prospects

International Monetary Fund - 2008

This paper explores inflation determinants within the EU and implications for new members'' euro adoption plans. Factor … analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components …. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level …

Persistent link: https://www.econbiz.de/10014401399

Do Government Wage Cuts Close Budget Deficits? : A Conceptual Framework for Developing Countries and Transition Economies

International Monetary Fund - 1996

Real wage declines have been common in the public sector in many countries over substantial periods of time. In several cases, such wage reductions have coincided with a decline in the efficiency of the public sector. In a simple analytical framework, it is shown that higher wage levels alter...

Persistent link: https://www.econbiz.de/10014396160

International Aspects of Budget Deficits with Distortionary Taxes

International Monetary Fund - 1987

Much of the recent research of the international economic consequences of budget deficit has been conducted under the assumption that taxes are lump sum. It has thus abstracted from important issues that arise in the context of distortionary tax systems. Our analysis deals with the international...

Persistent link: https://www.econbiz.de/10014396501

Measurement of fiscal impact : methodological issues

Bléjer, Mario I. (contributor) - 1988

Persistent link: https://www.econbiz.de/10004661402

Signaling Assessments of Members Policies

International Monetary Fund - 2003

Persistent link: https://www.econbiz.de/10014409731

Review of Exceptional Access Policy

International Monetary Fund - 2004

Persistent link: https://www.econbiz.de/10014409763

Government Debt Issuance in the Euro Area : The Impact of the Financial Crisis

International Monetary Fund - 2011

This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone countries and Denmark. Using a newly constructed database on primary market debt issuance during 2007-09, we find evidence of a shift away from pre-crisis standards of best funding...

Persistent link: https://www.econbiz.de/10014403688

Proposed Features of a Sovereign Debt Restructuring Mechanism

International Monetary Fund - 2003

This paper follows up on the Executive Board's December 2002 discussion of the design of the Sovereign Debt Restructuring Mechanism and seeks to make further progress on the formulation of a concrete proposal for a statutory sovereign debt restructuring mechanism

Persistent link: https://www.econbiz.de/10014409727

Fiscal Rules-Anchoring Expectations for Sustainable Public Finances

International Monetary Fund - 2009

The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules...

Persistent link: https://www.econbiz.de/10014410177

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