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Monetary Developments and Expansionary Fiscal Consolidations : Evidence from the EMU
Afonso, António - 2014
This paper provides new insights about the existence of expansionary fiscal consolidations in the Economic and Monetary Union, using annual panel data for 14 European Union countries over the period 1970-2012. Different measures for assessing fiscal consolidations based on the changes in the...
Persistent link: https://www.econbiz.de/10013050643
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Republic of Congo; Fifth and Sixth Reviews Under the Three-Year Arrangement Under the Extended Credit Facility and Financing Assurances Review: Staff Report; Staff Statement and Su...
International Monetary Fund (IMF); International … - 2011
In this study, macroeconomic development, its performance, and outlook are reviewed. Narrowing of the infrastructure gap and public financial management (PFM) are focused to safeguard investment quality. Fiscal reform has been introduced to improve the design of the tax system and to strengthen...
Persistent link: https://www.econbiz.de/10011244424
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Japan; 2011 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion
International Monetary Fund (IMF); International … - 2011
Japan has responded swiftly to stabilize markets, and activity has begun to recover. The immediate priority is to … fiscal adjustment and support the recovery. Japan is an important contributor to regional growth and stability. Despite the … adversity caused by the earthquake, Japan continues to demonstrate its strong commitment to international cooperation. …
Persistent link: https://www.econbiz.de/10011244887
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Portugal; Third Review Under the Extended Arrangement and Request for Waiver of Applicability of End-March Performance Criteria: Staff Report; Staff Statement; Press Release on the...
International Monetary Fund (IMF); International … - 2012
This paper presents Portugal’s third review under the extended arrangement and request for waiver of applicability of end-March performance criteria. The government has initiated labor market reforms, privatizations, telecom sector liberalization, and improved competition framework....
Persistent link: https://www.econbiz.de/10011245680
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Nicaragua; Ex Post Assessment of Longer-Term Program Engagement
International Monetary Fund (IMF); International … - 2012
This paper is a report of Nicaragua’s performance under the 2007–11 program. The period was marked by a stern financial crisis, price shocks, and disasters, but the program maintained the macroeconomic stability. Although the program had several hurdles, its achievements were...
Persistent link: https://www.econbiz.de/10011245777
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Eastern Caribbean Currency Union; 2010 Discussion on Common Policies of Members Countries—Staff Report; Informational Annex, and the Public Information Notice on the Executive Bo...
International Monetary Fund (IMF); International … - 2011
Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding...
Persistent link: https://www.econbiz.de/10011245828
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Bosnia & Herzegovina; 2010 Article IV Consultation, Second and Third Reviews Under the Stand-By Arrangement, Request for Waiver of Nonobservance of a Performance Criterion, and Rep...
International Monetary Fund (IMF); International … - 2010
The global economic and financial crisis found the economy of Bosnia and Herzegovina in a vulnerable position. The government put together a comprehensive program supported by the International Monetary Fund. The stabilization program has helped mitigate the impact of the global financial crisis...
Persistent link: https://www.econbiz.de/10011242729
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Italy; Staff Report for the 2011 Article IV Consultation; Informational Annex; Public Information Notice; Statement by the Staff Representative; and Statement by the Executive Dire...
International Monetary Fund (IMF); International … - 2011
collateral to access eurosystem refinancing helped Italian banks to face liquidity and funding risks. The tax system was …
Persistent link: https://www.econbiz.de/10011243327
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Republic of Poland; 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republi...
International Monetary Fund (IMF); International … - 2010
The Republic of Poland’s 2010 Article IV Consultation shows that Poland is the only European Union country to have escaped a recession in 2009 owing to its limited reliance on exports and well-capitalized and profitable banking system. Like its regional peers, it experienced spillovers...
Persistent link: https://www.econbiz.de/10011243395
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Ireland; Third Review Under the Extended Arrangement: Staff Report; Letter of Intent; Memorandum of Economic and Financial Policies; Technical Memorandum of Understanding; Letter o...
International Monetary Fund (IMF); International … - 2011
The Irish authorities steadfastly maintained strong policy implementation despite a sharp escalation and expansion of stress in euro area sovereign bond markets. Strengthened European support is welcome, but early implementation is key, and restoring broader stability in the euro area is...
Persistent link: https://www.econbiz.de/10011243435