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Fiscal Performance, Institutional Design and Decentralization in European Union Countries
Eyraud, Luc; Tuladhar, Anita; Escolano, Julio; Badia, … - International Monetary Fund (IMF) - 2012
This paper analyzes the impact of decentralization on overall fiscal performance in the European Union, taking into account fiscal institutional arrangements. We find that spending decentralization has been associated with sizably better fiscal performance, especially when transfer dependency of...
Persistent link: https://www.econbiz.de/10009654158
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The Discipline-Enhancing Role of Fiscal Institutions; Theory and Empirical Evidence
Debrun, Xavier; Kumar, Manmohan S. - International Monetary Fund (IMF) - 2007
This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. A dynamic model of fiscal policy shows that optimal institutions lack credibility unless the costs to bypass them are sufficiently high. In our model, a...
Persistent link: https://www.econbiz.de/10005825631
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Germany: Selected Issues
International Monetary Fund (IMF); International … - 2014
Persistent link: https://www.econbiz.de/10011244338
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Germany: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Germany
International Monetary Fund (IMF); International … - 2014
KEY ISSUES Context: ? Germany fundamentals are sound: balance sheets are generally healthy, unemployment is at a … uncertainty (including about future energy costs), and fast approaching adverse demographic changes. ? Germany could do more to … increase its growth, thus strengthening its role as an engine of euro area recovery. Policy recommendations: ? Germany has the …
Persistent link: https://www.econbiz.de/10011245837
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Recent Fiscal Developments in the European Countries of the G-7
Green, J. H.; Habermeier, Karl Friedrich; O'Callaghan, Gary - International Monetary Fund (IMF) - 1994
Persistent link: https://www.econbiz.de/10005605539
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Das Public Kapital: How Much Would Higher German Public Investment Help Germany and the Euro Area?
Elekdag, Selim; Muir, Dirk - International Monetary Fund (IMF) - 2014
Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not only stimulate domestic demand in the near term and reduce the current account surplus, but would also raise output over the longer-run as well as generate beneficial regional...
Persistent link: https://www.econbiz.de/10011123846
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Trade Linkages, Balance Sheets, and Spillovers; The Germany-Central European Supply Chain
Elekdag, Selim; Muir, Dirk - International Monetary Fund (IMF) - 2013
Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic … integration which has lead to the development of a dynamic supply chain within Europe—the Germany-Central European Supply Chain … relatively small. This is explained by the supply chain nature of trade integration: final demand in Germany is not necessarily …
Persistent link: https://www.econbiz.de/10011242281
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Germany; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights that Germany’s economic rebound of 2010–11 gave way to weakening momentum during the course of 2012. Although exports to non-European trading partners began to recover by mid-2012, in line with improved prospects in the United States and...
Persistent link: https://www.econbiz.de/10011244067
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Theory and Policy; A Commenton Dixit andon Current Tax Theory
Tanzi, Vito - International Monetary Fund (IMF) - 1992
In a recent paper Professor Dixit criticized the argument that when collection lags characterize tax systems, recourse to inflationary finance should be minimized. He argued that, in such case, rather than minimizing recourse to inflationary finance, the rates of the commodity taxes should be...
Persistent link: https://www.econbiz.de/10005605050
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Bosnia and Herzegovina; Third Review Under the Stand-By Arrangement and Request for Waiver of Applicability of a Performance Criterion—Staff Report and Press Release.
International Monetary Fund (IMF); International … - 2013
This paper discusses Bosnia and Herzegovina’s Third Review Under the Stand-By Arrangement and Request for Waiver of Applicability of a Performance Criterion. Financial sector indicators through end-March 2013 suggest that the banking system remains profitable and adequately capitalized at...
Persistent link: https://www.econbiz.de/10011244352