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Government Contingent Liabilities and the Measurement of Fiscal Impact
International Monetary Fund - 1990
Conventional fiscal accounting methodologies do not appropriately account for governments’ noncash policies, such as their contingent liabilities. When these liabilities are called, budget costs can be large, as evidenced by the United States’ saving and loan crisis. In general, deficit...
Persistent link: https://www.econbiz.de/10014396193
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Optimal Fiscal Policy and Government Provision of Contingent Liabilities : The Example of Government Loan and Deposit Guarantees
International Monetary Fund - 1989
The optimal provision of loan guarantees or deposit insurance is examined in the context of an overlapping generations model. It is demonstrated that even in the face of a market imperfection that precludes diversification of the private sector’s loan portfolio to eliminate risk, full...
Persistent link: https://www.econbiz.de/10014395814
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Policy Reform, Shadow Prices, and Market Prices
International Monetary Fund - 1988
, or correctly defined, shadow prices. We show how shadow prices may be integrated into an analysis of tax and price reform …
Persistent link: https://www.econbiz.de/10014396134
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Asset Prices and Time-Varying Risk
International Monetary Fund - 1988
Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas in a model environment of time-varying risk. Some work by Abel provided us with...
Persistent link: https://www.econbiz.de/10014396175
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Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation
International Monetary Fund - 1988
This paper analyzes the dynamics of the real exchange rate and the price of equity for a small open economy using an … adjustment path toward long-run equilibrium, appreciation of the real exchange rate will accompany a decline in the market price … of equity, whereas depreciation of the real exchange rate will accompany a rise in the price of equity. This relationship …
Persistent link: https://www.econbiz.de/10014396304
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Energy subsidy reform : lessons and implications
Clements, Benedict J. (ed.); Coady, David P. (ed.) - 2013
"how to do" energy subsidy reform, drawing on insights from 22 country case studies and analyses carried out by other …
Persistent link: https://www.econbiz.de/10010244221
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Energy Subsidy Reform : Lessons and Implications
International Monetary Fund - 2013
subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected … comprehensive estimates of energy subsidies currently available for 176 countries; and (ii) an analysis of ?how to do energy subsidy …
Persistent link: https://www.econbiz.de/10014410519
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Case Studies on Energy Subsidy Reform-Lessons and Implications : Supplement
International Monetary Fund - 2013
This supplement presents country case studies reviewing energy subsidy reform experiences, which are the basis for the … reform of petroleum product subsidies, seven studies of the reform of electricity subsidies, and a case study of subsidy …
Persistent link: https://www.econbiz.de/10014410521
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Termination of the Emergency Post-Conflict and Natural Disaster Assistance Administered Subsidy Account
International Monetary Fund - 2014
Persistent link: https://www.econbiz.de/10014410604
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The Fiscal and Economic Effects of Federal Credit Assistance Programs
International Monetary Fund - 1990
source—each program’s subsidy component. Recent credit reform proposals would make control of credit subsidies the primary … in improving their economic effects by eliminating unintended subsidies. However, many high subsidy-rate programs appear …
Persistent link: https://www.econbiz.de/10014396099