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Measures of Fiscal Risk in Hydrocarbon-Exporting Countries
Caceres, Carlos - 2012
The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, medium-term risks remain high. Fiscal vulnerabilities have increased as a consequence...
Persistent link: https://www.econbiz.de/10013096279
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Measures of Fiscal Risk in Hydrocarbon-Exporting Countries
Caceres, Carlos - 2012
The recent relatively high levels of global oil prices have led to a significant improvement in the public finances of several hydrocarbon-exporting countries. However, despite the increase in fiscal buffers, medium-term risks remain high. Fiscal vulnerabilities have increased as a consequence...
Persistent link: https://www.econbiz.de/10013097742
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Great Recession and Fiscal Squeeze at U.S. Subnational Government Level
Jonas, Jiri - 2012
The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the...
Persistent link: https://www.econbiz.de/10013098614
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Fiscal Transparency, Fiscal Performance and Credit Ratings
Arbatli, Elif C. - 2012
This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty reduction) and an indirect channel (better fiscal policies and outcomes), and it differentiates between...
Persistent link: https://www.econbiz.de/10013102173
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Deflation and Public Finances : Evidence from the Historical Records
End, Nicolas - 2015
This paper examines the impact of deflation on fiscal aggregates. With deflation relatively rare in modern history, it relies mostly on the historical records, using a dataset panel covering 150 years and 21 advanced economies. Empirical evidence shows that deflation affects public finances...
Persistent link: https://www.econbiz.de/10013015606
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Now or Later? The Political Economy of Public Investment in Democracies
Gupta, Sanjeev - 2015
This paper explores the impact of political and institutional variables on public investment. Working with a sample of … 80 presidential and parliamentary democracies between 1975 and2012, we find that the rate of growth of public investment … is higher at the beginning of electoral cycles and decelerates thereafter. The peak in public investment growth occurs …
Persistent link: https://www.econbiz.de/10013015609
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Do Fiscal Rules Cause Fiscal Discipline Over the Electoral Cycle?
Eklou, Kodjovi - 2020
This paper estimates the causal effect of fiscal rules on political budget cycles in a sample of 67 developing countries over the period 1985-2007. We exploit the geographical pattern in the adoption of fiscal rules to isolate an exogenous source of variation in the adoption of national fiscal...
Persistent link: https://www.econbiz.de/10012843304
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Fiscal Consolidation in Israel : A Global Fiscal Model Perspective
Elekdag, Selim Ali - 2006
Fiscal consolidation has become an important policy prescription for many emerging market countries (EMCs), particularly for the highly indebted ones. Although prudent fiscal policies tend to reduce vulnerabilities, their implementation is usually postponed. This paper represents, to the best of...
Persistent link: https://www.econbiz.de/10012779074
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Fiscal Challenges of Population Aging in Brazil
Cuevas, Alfredo - 2017
In recent decades, population has been aging fast in Brazil while old age pensions and health related spending have increased. As the population ages, the spending trend threaten to reach unsustainable levels absent reforms. Increasing the retirement age is key, but by itself will not provide...
Persistent link: https://www.econbiz.de/10012956468
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Fiscal Crises
Gerling, Kerstin - 2017
A key objective of fiscal policy is to maintain the sustainability of public finances and avoid crises. Remarkably, there is very limited analysis on fiscal crises. This paper presents a new database of fiscal crises covering different country groups, including low-income developing countries...
Persistent link: https://www.econbiz.de/10012956473