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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

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

The Liquidity Channel of Fiscal Policy

Bayer, Christian - 2020

—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete … markets and portfolio choice, in which public debt affects private liquidity. In this environment, the short-run fiscal … multiplier is amplified by the countercyclical liquidity premium. This liquidity channel stabilizes investment and crowds in …

Persistent link: https://www.econbiz.de/10012830353

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

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

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

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

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

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

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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