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Samoa; Request for Disbursement Under the Rapid Credit Facility-Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Dire...
International Monetary Fund (IMF); International … - 2013
Samoa was hit hard by a strong tropical cyclone, and the authorities are to be commended for their swift response to the resulting disaster. Economic growth this fiscal year is expected to be significantly lower than projected prior to the cyclone, but there are encouraging signs of early...
Persistent link: https://www.econbiz.de/10011245381
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Public Debt in Advanced Economies and its Spillover Effectson Long-Term Yields
Alper, C. Emre; Forni, Lorenzo - International Monetary Fund (IMF) - 2011
Several models establish a positive association between public debt ratios and long-term real yields, but the empirical evidence is not always conclusive. We reconsider this issue, focusing in particular on possible spillover effects of large advanced economies' debt levels to other economies'...
Persistent link: https://www.econbiz.de/10009293780
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The Liquidation of Government Debt
Reinhart, Carmen; Sbrancia, M. Belen - International Monetary Fund (IMF) - 2015
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for...
Persistent link: https://www.econbiz.de/10011144605
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Portugal; Seventh Review Under the Extended Arrangement and Request for Modification of End-June Performance Criteria—Staff Report; Press Release on the Executive Board Discussio...
International Monetary Fund (IMF); International … - 2013
Portugal's program implementation is on track despite difficult economic conditions and significant legal challenges. The markedly weaker economic outlook provides a strong case for recalibrating the program’s fiscal targets. This strong adjustment effort needs to be consolidated by...
Persistent link: https://www.econbiz.de/10011242946
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Vertical Fiscal Imbalances and the Accumulation of Government Debt
Aldasoro, Inaki; Seiferling, Mike - International Monetary Fund (IMF) - 2014
Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the...
Persistent link: https://www.econbiz.de/10011142062
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Inflation and Public Debt Reversals in the G7 Countries
Akitoby, Bernardin; Komatsuzaki, Takuji; Binder, Ariel J - International Monetary Fund (IMF) - 2014
This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our simulations suggest that if inflation were to fall to zero for five years, the average net debt-to-GDP ratio would increase by about 5 percentage points over the next five years....
Persistent link: https://www.econbiz.de/10011142153
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The Federal Democratic Republic of Ethiopia; Selected Issues
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper reviews the extent to which growth in Ethiopia has translated into higher living standards. A key feature of the economic strategy has been an explicit commitment to poverty reduction and structural transformation. This is underpinned by the vision of a...
Persistent link: https://www.econbiz.de/10011244172
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Oil Rents, Corruption, and State Stability; Evidence From Panel Data Regressions
International Monetary Fund (IMF); International … - 2009
We examine the effects of oil rents on corruption and state stability exploiting the exogenous within-country variation … increase in oil rents significantly increases corruption, significantly deteriorates political rights while at the same time … redistribution and conflict. We support our argument documenting that there is a significant effect of oil rents on corruption in …
Persistent link: https://www.econbiz.de/10008497600
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Hold Your Nose and Vote; Why Do Some Democracies tolerate Corruption?
Pani, Marco - International Monetary Fund (IMF) - 2009
This paper analyses why corruption can persist for long periods in a democracy and inquires whether this can result …, the paper analyzes how corruption distortsthe allocation of resources between public and private expenditure, altering the … citizens can indirectly benefit from corruption. The paper shows that, under this condition, if the citizens anticipate a shift …
Persistent link: https://www.econbiz.de/10004999974
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Italy; 2013 Article IV Consultation
International Monetary Fund (IMF); International … - 2013
This 2013 Article IV Consultation highlights Italy’s assesses measures undertaken to revive economic growth. Italy is vulnerable to a renewal of euro area tension and risks from domestic policy slippages, stalling of structural reforms, and banking distress that could undermine...
Persistent link: https://www.econbiz.de/10011243723