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Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy; What Do the Data Say?

Woo, Jaejoon; Bova, Elva; Kinda, Tidiane; Zhang, … - International Monetary Fund (IMF) - 2013

question. This paper analyzes the effects of fiscal policies on income inequality in a panel of advanced and emerging market … fiscal consolidations are likely to raise inequality through various channels including their effects on unemployment …. Spending-based consolidations tend to worsen inequality more significantly, relative to tax-based consolidations. The …

Persistent link: https://www.econbiz.de/10011242413

The Short-Run Macroeconomics of Aid Inflows; Understanding the Interaction of Fiscal and Reserve Policy

Zanna, Luis-Felipe; Berg, Andrew; Mirzoev, Tokhir; … - International Monetary Fund (IMF) - 2010

We develop a tractable open-economy new-Keynesian model with two sectors to analyze the short-term effects of aid-financed fiscal expansions. We distinguish between spending the aid, which is under the control of the fiscal authorities, and absorbing the aid-using the aid to finance a higher...

Persistent link: https://www.econbiz.de/10008470400

Budget Institutions and Fiscal Performance in Low-Income Countries

Gollwitzer, Sophia; Kvintradze, Eteri; Prakash, Tej; … - International Monetary Fund (IMF) - 2010

This paper presents, for the first time, multi-dimensional indices of the quality of budget institutions in low-income countries. The indices allow for benchmarking against the performance of middle-income countries, across regions, and according to different institutional arrangements that...

Persistent link: https://www.econbiz.de/10008470408

Public Investment in Resource-Abundant Developing Countries

Berg, Andrew; Portillo, Rafael; Yang, Shu-Chun S.; … - International Monetary Fund (IMF) - 2012

Natural resource revenues provide a valuable source to finance public investment in developing countries, which frequently face borrowing constraints and tax revenue mobilization problems. This paper develops a dynamic stochastic small open economy model to analyze the macroeconomic effects of...

Persistent link: https://www.econbiz.de/10010790256

Policy Responses to Aid Surges in Countries with Limited International Capital Mobility: The Role of the Exchange Rate Regime

Berg, Andrew; Portillo, Rafael A; Zanna, Luis-Felipe - International Monetary Fund (IMF) - 2014

We study the role of the exchange rate regime, reserve accumulation, and sterilization policies in the macroeconomics of aid surges. Absent sterilization, a peg allows for almost full aid absorption â€” an increase in the current account deficit net of aidâ€”delivering the same effects...

Persistent link: https://www.econbiz.de/10011123835

Strengthening Post-Crisis Fiscal Credibility: Fiscal Councils on the Rise â€” A New Dataset

Debrun, Xavier; Kinda, Tidiane - International Monetary Fund (IMF) - 2014

Institutions aimed at constraining policy discretion to promote sound fiscal policies are once again at the forefront of the policy debate. Interest in â€œfiscal councils,â€ independent watchdogs active in the public debate, has grown rapidly in recent years. This paper presents the first...

Persistent link: https://www.econbiz.de/10011123841

That Squeezing Feeling; The Interest Burden and Public Debt Stabilization

Debrun, Xavier; Kinda, Tidiane - International Monetary Fund (IMF) - 2013

The paper explores the extent to which the pressure of debt service on other spending items may push governments to embark on fiscal consolidation beyond what is strictly necessary to secure solvency. The empirical analysis identifies thresholds of interest bill indicators beyond which...

Persistent link: https://www.econbiz.de/10011242207

Fiscal Rules at a Glance; Country Details from a New Dataset

Budina, Nina; Kinda, Tidiane; Schaechter, Andrea; … - International Monetary Fund (IMF) - 2012

This paper provides country-specific information on fiscal rules in use in 81 countries from 1985 to end-September 2012. It serves as background material and update of the July 2012 Working Paper â€œFiscal Rules in Response to the Crisisâ€”Toward the â€˜Next Generationâ€™...

Persistent link: https://www.econbiz.de/10011242357

Expenditure Rules: Effective Tools for Sound Fiscal Policy?

Cordes, Till; Kinda, Tidiane; Muthoora, Priscilla S.; … - International Monetary Fund (IMF) - 2015

This paper provides new evidence on the effectiveness of expenditure rules. The analysis is based on a unique dataset covering all countries with national and supranational fiscal rules, including 33 expenditure rules, between 1985 and 2013. It contributes to the existing literature on fiscal...

Persistent link: https://www.econbiz.de/10011242394

Fiscal Rules in Response to the Crisis; Toward the "Next-Generation" Rules: A New Dataset

Budina, Nina; Schaechter, Andrea; Weber, Anke; Kinda, … - International Monetary Fund (IMF) - 2012

Strengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - covering national and supranational fiscal rules, in 81 countries from 1985 to...

Persistent link: https://www.econbiz.de/10011242436