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A Framework for Developing Secondary Markets for Government Securities
Ãrvai, Zsófia; Heenan, Geoffrey - International Monetary Fund (IMF) - 2008
This paper consolidates previous work on the development of secondary markets for government securities, and focuses on the sequencing of measures necessary for their development. Six main lessons are identified: (i) a commitment to achieving and maintaining a stable macroeconomic environment,...
Persistent link: https://www.econbiz.de/10005826193
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Theories of Policy Accommodation; The Persistence of Inflation and Gradual Stabilizations
Gregorio, Jose De - International Monetary Fund (IMF) - 1992
Persistent inflation and slow stabilization are usually the result of policy accommodation resorted to in an attempt to … avoid the recessionary costs of a sharp reduction of inflation. This paper reviews three explanations for why policymakers …, despite their dislike of inflation, may nevertheless choose to adopt accommodative policies. It emphasizes the role of …
Persistent link: https://www.econbiz.de/10005604812
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Inflation Indexation in Public Finances: A Global Dataset on Current Practices
Balasundharam, Vybhavi - 2023
example, indexation is more common on pension and social grants than on taxes, and falls with the degree of economic … impacts of indexation on fiscal outcomes during episodes of inflation surprises; and an analysis of the association between … the overall degree of indexation combining the four budget items and inflation persistence …
Persistent link: https://www.econbiz.de/10015058808
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Effects of Fiscal Stimulus in Structural Models
Kumhof, Michael; Muir, Dirk; Resende, Carlos de; Jan in … - International Monetary Fund (IMF) - 2010
The paper assesses, using seven structural models used heavily by policymaking institutions, the effectiveness of temporary fiscal stimulus. Models can, more easily than empirical studies, account for differences between fiscal instruments, for differences between structural characteristics of...
Persistent link: https://www.econbiz.de/10008470409
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The Impact of Macroeconomic Policieson the Level of Taxation (andon the Fiscal Balance) in Developing Countries
Tanzi, Vito - International Monetary Fund (IMF) - 1988
) import substitution policies, (c) trade liberalization, (d) inflation, (e) public debt, (f) financial policies. The paper …
Persistent link: https://www.econbiz.de/10005768723
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Fiscal Policy Response to External Crises the Case of Moldova 1998-2010
Qehaja, Driton - International Monetary Fund (IMF) - 2012
External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through...
Persistent link: https://www.econbiz.de/10010790375
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Liberalization of the Capital Account; Experiences and Issues
Mathieson, Donald J.; Rojas-Suárez, Liliana - International Monetary Fund (IMF) - 1992
This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of capital controls diminishes, examines the medium-term benefits and costs of an open capital account, and analyzes the policy measures that...
Persistent link: https://www.econbiz.de/10005263934
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Investment by Large Firms in Argentina
Piris, Alvaro - International Monetary Fund (IMF) - 2010
Strong growth in investment made a key contribution to the economic recovery in Argentina earlier this decade. The paper uses firm-level data to assess changes in financing constraints and the linkages between real investment at the firm level and macroeconomic developments in the real exchange...
Persistent link: https://www.econbiz.de/10008561085
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Wage and Public Debt Indexation
Guidotti, Pablo Emilio - International Monetary Fund (IMF) - 1992
This paper examines the relationship between the degree of wage indexation chosen by private agents and the degree of … indexation of the public debt. It is shown that the government is likely to respond to an increase in the degree of wage … indexation by increasing the portion of the public debt that is indexed. By contrast, the effect of an increase in public debt …
Persistent link: https://www.econbiz.de/10005825668
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An Index Number Formula Problem; The Aggregation of Broadly Comparable items
Silver, Mick - International Monetary Fund (IMF) - 2009
Index number theory informs us that if data on matched prices and quantities are available, a superlative index number formula is best to aggregate heterogeneous items, and a unit value index to aggregate homogeneous ones. The formulas can give very different results. Neglected is the practical...
Persistent link: https://www.econbiz.de/10005825779