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Adjustment Under a Currency Peg; Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09
Purfield, Catriona; Rosenberg, Christoph B. - International Monetary Fund (IMF) - 2010
The paper traces the Baltics’ adjustment strategy during the 2008-09 global financial crisis. The abrupt end to the externally-financed domestic demand boom triggered a severe output collapse, bringing per capita income levels back to 2005/06 levels. In response to this shock, the Baltics...
Persistent link: https://www.econbiz.de/10008671289
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Fiscal Impulses and their Fiscal Impact
Chand, Sheetal K. - International Monetary Fund (IMF) - 1992
Fiscal impulse measures are used in the WEO and elsewhere to indicate the changing impact of the budget on the economy. Such measures are intended to provide more accurate indications of whether the budget is becoming more or less expansionary than would just observing moments in the actual...
Persistent link: https://www.econbiz.de/10005248137
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Fiscal Policy in Pakistan Since 1970
International Monetary Fund (IMF); International … - 1992
the inflation tax. Accordingly, continued effort is likely to be needed to attain a fiscal position that is sustainable …
Persistent link: https://www.econbiz.de/10005248177
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Financial Markets and Public Finance in the Transformation Process
Tanzi, Vito - International Monetary Fund (IMF) - 1992
The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in Eastern and Central Europe. It highlights (a) the need to create some sort of “social ecological balance” necessary for the working of a modern market economy; (b) the need to...
Persistent link: https://www.econbiz.de/10005264034
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Sovereign Risk, Fiscal Policy, and Macroeconomic Stability
Kuester, Keith; Mueller, Gernot J.; Corsetti, Giancarlo; … - International Monetary Fund (IMF) - 2012
This paper analyzes the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy. Using a variant of the model by Curdia and Woodford (2009), we study a "sovereign risk channel" through which sovereign default risk raises funding costs in the...
Persistent link: https://www.econbiz.de/10009650633
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In Search of Lost Revenue; Why Restoring Fiscal Soundness After a Crisis is Harder Than it Looks
Miyazaki, Masato - International Monetary Fund (IMF) - 2010
This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue … the crisis would not balance the book, while a natural growth of tax revenue after the recovery may take a long time …
Persistent link: https://www.econbiz.de/10008560419
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Addressing Korea's Long-Term Fiscal Challenges
Syed, Murtaza H.; Skaarup, Michael; Feyzioglu, Tarhan - International Monetary Fund (IMF) - 2008
tools, including pension reform, tax base broadening (and, if necessary, rate hikes), improved tax administration and some …
Persistent link: https://www.econbiz.de/10005825781
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Fiscal Sustainability; The Case of Eritrea
Yamauchi, Ayumu - International Monetary Fund (IMF) - 2004
The paper examines fiscal sustainability issues for the case of Eritrea but has wider implications for addressing fiscal and debt sustainability. It begins with a formal definition and explanation of analytical sustainability indicators, followed by an assessment of the causes of fiscal deficits...
Persistent link: https://www.econbiz.de/10005826168
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Current and Proposed Non-Oil Tax System in Azerbaijan
International Monetary Fund (IMF); International … - 2008
This paper analyzes developments in non-oil tax policy, administration, and revenues in Azerbaijan, and suggests … measures for further improvement. The main finding is that Azerbaijan's non-oil tax revenues increased significantly as a share … of non-oil GDP in the last five years, but remain below potential. The non-oil tax revenue shortfall is mainly due to …
Persistent link: https://www.econbiz.de/10005826278
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Indian Subnational Finances; Recent Performance
Prasad, A.; Kishore, Adarsh - International Monetary Fund (IMF) - 2007
The fiscal performance of the States in India has been an area of concern for quite some time. The Twelfth Finance Commission (TFC) recommended a three-pronged strategy to alleviate States' fiscal distress, built around greater orientation toward market discipline, incentives for fiscal...
Persistent link: https://www.econbiz.de/10005826330