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Non-Keynesian Effects of Fiscal Consolidation: An Analysis with an Estimated DSGE Model for the Hungarian Economy
Benk, Szilárd; Jakab, Zoltán M. - Economics Department, Organisation de Coopération et … - 2012
Using an estimated DSGE model for Hungary, the paper identifies the possible non-Keynesian channels through which a fiscal consolidation may manifest as expansionary. Simulations show that fiscal consolidation policies are typically contractionary. Nevertheless, taking into account some specific...
Persistent link: https://www.econbiz.de/10011276878
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Enhancing the Effectiveness of Public Spending: Experience in OECD Countries
Joumard, Isabelle; Kongsrud, Per Mathis; Nam, Young-Sook; … - Economics Department, Organisation de Coopération et … - 2004
In most OECD countries, public spending rose steadily as a share of GDP over the past decades to the mid-1990s, but this trend has since abated. The spending pressures stemming from the continued expansion of social programmes have been partly compensated by transient or one-off factors....
Persistent link: https://www.econbiz.de/10005045600
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Reforming Turkey's Public Expenditure Management
Gönenç, Rauf; Leibfritz, Willi; Yilmaz, Erdal - Economics Department, Organisation de Coopération et … - 2005
of public debt. Fiscal targets have been achieved chiefly by raising revenues which has increased the tax burden; greater …
Persistent link: https://www.econbiz.de/10005045722
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Rationalising Public Expenditure in the Slovak Republic
Gönenç, Rauf; Walkenhorst, Peter - Economics Department, Organisation de Coopération et … - 2004
Over the past decade, public expenditure in Slovakia was characterised by substantial social transfers and high public sector wage expenses. This paper analyses the main features of Slovakia’s public expenditure system, reviews expenditure trends, and discusses recent reform initiatives. The...
Persistent link: https://www.econbiz.de/10005045749
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Reforming the Public Expenditure System in Korea
Nam, Young-Sook; Jones, Randall S. - Economics Department, Organisation de Coopération et … - 2003
Although Korea has the second-lowest level of public spending among OECD countries at 22½ per cent of GDP, it faces strong upward spending pressures over the medium and longer term, which could threaten fiscal sustainability. This paper analyses the main features of Korea’s public expenditure...
Persistent link: https://www.econbiz.de/10005046004
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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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The Impact of Tax and Welfare Policieson Employment and Unemployment in OECD Countries
Disney, Richard - International Monetary Fund (IMF) - 2000
The paper provides a selective survey of methods and findings concerning the impact of tax and welfare policies on … employment, unemployment, and economic growth in OECD countries. The paper examines a number of facets of tax and welfare policy …
Persistent link: https://www.econbiz.de/10005263942
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Globalization and the Future of Social Protection
Tanzi, Vito - International Monetary Fund (IMF) - 2000
Social protection in industrial countries has been provided through regulations, tax expenditures, and public spending … level of recent decades. Specifically, tax competition among jurisdictions, ballooning electronic commerce, and increased … mobility of the factors of production will likely cause significant falls in tax revenue in future years. The paper concludes …
Persistent link: https://www.econbiz.de/10005264098
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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