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Pakistan; Second Review and Request for the Augmentation of Access Under the Stand-By Arrangement: Staff Report; Staff Supplement; Staff Statement; Press Release on the Executive B...
International Monetary Fund (IMF); International … - 2009
This paper discusses key findings of the Second Review for Pakistan and a request for the augmentation of access under the Stand-By Arrangement. Program performance has been mixed. All end-March quantitative performance criteria were met, but structural reform has been slower than programmed....
Persistent link: https://www.econbiz.de/10011245771
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Republic of Kosovo; Request for Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion.
International Monetary Fund (IMF); International … - 2012
This staff report discusses the Republic of Kosovo’s request for a Stand-By Arrangement. Kosovo is in the final stages of transition to full self-governance in economic and financial affairs. Kosovo’s economy has remained largely shielded from turbulence in the euro area, owing to...
Persistent link: https://www.econbiz.de/10011245361
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The State of Public Finances: A Cross-Country Fiscal Monitor; A Cross-Country Fiscal Monitor
Mauro, Paolo; Horton, Mark A.; Kumar, Manmohan S. - International Monetary Fund (IMF) - 2009
Persistent link: https://www.econbiz.de/10011245871
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Russia's Regions; Income Volatility, Labor Mobility and Fiscal Policy
Kwon, Goohoon; Spilimbergo, Antonio - International Monetary Fund (IMF) - 2005
Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks fiscal instruments to deal with regional shocks. We assess...
Persistent link: https://www.econbiz.de/10005263862
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The Perils of Tax Smoothing; Sustainable Fiscal Policy with Random Shocks to Permanent Output
Tanner, Evan; Carey, Kevin Joseph - International Monetary Fund (IMF) - 2005
If permanent output is uncertain, tax smoothing can be perilous: both debt levels and tax rates are difficult to … stabilize and may drift upwards. One practical remedy would be to target the debt. However, our simulations confirm that such a … be to link the primary surplus not only to the debt ratio (like tax smoothing) but also to its volatility, thus …
Persistent link: https://www.econbiz.de/10005264166
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The Economic Effects of Fiscal Consolidation with Debt Feedback
Estevão, Marcello M.; Samaké, Issouf - International Monetary Fund (IMF) - 2013
for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and …
Persistent link: https://www.econbiz.de/10010838008
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Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?
Erbil, Nese - International Monetary Fund (IMF) - 2011
This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil revenue, and non-oil primary balance - and correcting for reverse causality...
Persistent link: https://www.econbiz.de/10009203530
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DSGE Modeling At the Fund; Applications and Further Developments
Botman, Dennis P. J.; Rose, David; Laxton, Douglas; … - International Monetary Fund (IMF) - 2007
Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large...
Persistent link: https://www.econbiz.de/10005826064
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The Role for Counter-Cyclical Fiscal Policy in Singapore
Eskesen, Leif Lybecker - International Monetary Fund (IMF) - 2009
Singapore's policymakers have often used fiscal policy as a counter-cyclical tool. Empirical results based on a structural autoregression framework suggest that fiscal policy can be used for demand management, although the impact may be somewhat short lived. The short-lived impact could reflect...
Persistent link: https://www.econbiz.de/10005826280
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Primary Surplus Behavior and Risks to Fiscal Sustainability in Emerging Market Countries; A "Fan-Chart" Approach
Celasun, Oya; Debrun, Xavier; Ostry, Jonathan David - International Monetary Fund (IMF) - 2006
This paper proposes a probabilistic approach to public debt sustainability analysis (DSA) using "fan charts." These … depict the magnitude of risks-upside and downside-surrounding public debt projections as a result of uncertain economic … conditions and policies. We propose a simulation algorithm for the path of public debt under realistic shock configurations …
Persistent link: https://www.econbiz.de/10005826339