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Fiscal policy implications for labor market outcomes in middle-income countries
Stepanyan, Ara; Leigh, Lamin - 2015
Many governments have initiated public employment programs or expanded the existing ones in response to high unemployment. However, in many middle-income countries, a relatively large government coexists with persistently high unemployment. This paper explores the question of whether public...
Persistent link: https://www.econbiz.de/10014275789
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Monetary policy transmission and financial stability in a LIC : the case of Bangladesh
Rafiq, Sohrab - 2015
This paper explores how monetary policy affects the real economy and its efficacy in promoting financial stability in a large low income country. This paper shows that monetary policy modestly impacts real economic activity and inflation via the bank lending and financial accelerator channels....
Persistent link: https://www.econbiz.de/10011408240
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Tax reforms and fiscal shock smoothing
Amaglobeli, David; Jaramillo Echeverri, Laura; Karnane, … - 2019
This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies during the period 1980-2017. The results suggest that tax reforms, in particular those that broaden the tax base, significantly enhance the ability of fiscal policy to mitigate...
Persistent link: https://www.econbiz.de/10012021994
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Review of the public financial management reform : strategy for Pacific Island Countries, 2010-2020
Allen, Richard; El Rayess, Majdeline; Doherty, Laura; … - 2020
This paper reviews the Public Financial Management (PFM) reform stategy for 16 Pacific Island Countries (PICs) during the period 2010-2020. The strategy was endorsed by the finance and economic ministers of the region (FEMM) in 2010. The paper analyzes more than 30 PEFA assessments carried out...
Persistent link: https://www.econbiz.de/10012302044
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Do financial markets value quality of fiscal governance?
Keita, Kady; Leon, Gene; Lima, Frederico - 2019
We examine the link between the quality of fiscal governance and access to market-based external finance. Stronger fiscal governance is associated with improvements in several indicators of market access, including a higher likelihood of issuing sovereign bonds and having a sovereign credit...
Persistent link: https://www.econbiz.de/10012112130
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Italy : toward a growth-friendly fiscal reform
Andrle, Michal; Hebous, Shafik; Kangur, Alvar; Raissi, Mehdi - 2018
Published in late 2017, the Italian medium-term fiscal plan aims to achieve structural balance by 2020, although concrete, high-quality measures to meet the target are yet to be specified. This paper seeks to contribute to the discussion by (i) assessing spending patterns to identify areas for...
Persistent link: https://www.econbiz.de/10011848164
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The design of fiscal reform packages : insights from a theoretical endogenous growth model
Hodge, Andrew - 2016
This paper studies the impact on growth, welfare, and government debt of fiscal reform packages in a theoretical model drawing together three key features of the endogenous growth literature: (i) investment in technology (in the form of human capital) offsets diminishing marginal productivity of...
Persistent link: https://www.econbiz.de/10011711843
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Why Focuson Spending Needs Factors? : The Political Economy of Fiscal Transfer Reforms in Mexico
Ahmad, Ehtisham - 2007
An equalization system ensures that subnational governments can provide similar level of public services at a comparable level of own tax-effort. This paper focuses on the importance of spending needs factors in the design of equalization transfers as well as special purpose transfers-and the...
Persistent link: https://www.econbiz.de/10014400983
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The impact of unconventional monetary policy measures by the systemic four on global liquidity and monetary conditions
Korniyenko, Yevgeniya; Loukoianova, Elena - 2015
States, the United Kingdom, Euro area and Japan- the Systemic Four-on global monetary and liquidity conditions. Overall, the … countries on these conditions in other countries. UMPMs of the Bank of Japan have positive association with global liquidity but …
Persistent link: https://www.econbiz.de/10011445532
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Scarcity effects of quantitative easing on market liquidity : evidence from the Japanese government bond market
Han, Fei; Seneviratne, Dulani - 2018
) effects of the Bank of Japan (BOJ)'s JGB purchases on market liquidity. Moreover, we also find evidence that such scarcity …Quantitative easing could improve market liquidity through many channels such as relaxing bank funding constraints …, increasing risk appetite, and facilitating trades. However, it can also reduce market liquidity when the increase in the central …
Persistent link: https://www.econbiz.de/10011852598