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Fiscal Consolidation in the Euro Area; How Much Can Structural Reforms Ease the Pain?
Anderson, Derek; Hunt, Ben; Snudden, Stephen - International Monetary Fund (IMF) - 2013
euro area to offset the negative impact of fiscal consolidation required to put public debt back on a sustainable path. The … results suggest that structural reforms in core countries could quite reasonably be expected to offset the near term negative …
Persistent link: https://www.econbiz.de/10011242309
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Modeling Appropriate Fiscal Targets and Optimal Consolidation Paths for Resource-Rich Countries: The Case of Suriname
Kanda, Daniel; Mansilla, Mario - International Monetary Fund (IMF) - 2014
This paper first attempts to quantify the natural resource wealth of Suriname from the perspective of its impact on the fiscal position, and then assesses the fiscal sustainability gap in that context. It then presents models to address the question of the optimal path of fiscal consolidation...
Persistent link: https://www.econbiz.de/10010800972
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How Much is A Lot? Historical Evidence on the Size of Fiscal Adjustments
Escolano, Julio; Jaramillo, Laura; Mulas-Granados, Carlos; … - International Monetary Fund (IMF) - 2014
The sizeable fiscal consolidation required to stabilize the debt-to-GDP ratios in several countries in the aftermath of the global crisis raises a crucial question on its feasibility. To answer this question, we rely on historical evidence from a sample of 91 adjustment episodes of countries...
Persistent link: https://www.econbiz.de/10011142001
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Local Governments’ Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries
Crivelli, Ernesto - International Monetary Fund (IMF) - 2012
Several transition economies have undertaken fiscal decentralization reforms over the past two decades along with liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances, unless the right incentives are in place to promote...
Persistent link: https://www.econbiz.de/10011142008
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External Conditions and Debt Sustainability in Latin America
Adler, Gustavo; Sosa, Sebastian - International Monetary Fund (IMF) - 2013
Highly favorable external conditions have helped Latin America strengthen its economic fundamentals over the last decade. But, has the region built enough buffers to guard itself from a weakening of the external environment? This paper addresses this question by developing a simple framework...
Persistent link: https://www.econbiz.de/10011142027
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Remittances Channel and Fiscal Impact in the Middle East, North Africa, and Central Asia
Abdih, Yasser; Chami, Ralph; Ebeke, Christian; Barajas, … - International Monetary Fund (IMF) - 2012
This paper identifies a remittances channel that transmits exogenous shocks, such as business cycles in remittance-sending countries, to the public finances of remittance-receiving countries. Using panel data for remittance-receiving countries in the Middle East, North Africa, and Central Asia,...
Persistent link: https://www.econbiz.de/10011142083
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What Determines Government Spending Multipliers?
Müller, Gernot; Meier, André; Corsetti, Giancarlo - International Monetary Fund (IMF) - 2012
This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD …
Persistent link: https://www.econbiz.de/10011142087
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Fiscal Policy over the Election Cycle in Low-Income Countries
Ebeke, Christian; Ölcer, Dilan - International Monetary Fund (IMF) - 2013
results indicate that during election years, government consumption significantly increases and leads to higher fiscal … trade taxes and cuts to government investment, with no significant cuts in government consumption. Using a new dataset on … magnitude of the political budget cycle in LICs. We conclude that elections not only imply a macroeconomic cost when they take …
Persistent link: https://www.econbiz.de/10011142099
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A Modern History of Fiscal Prudence and Profligacy
Mauro, Paolo; Romeu, Rafael; Binder, Ariel J; Zaman, Asad - International Monetary Fund (IMF) - 2013
interest bill (and thus both the primary and the overall fiscal deficit), the government debt, and gross domestic product, for …
Persistent link: https://www.econbiz.de/10011142135
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The External Balance Assessment (EBA) Methodology
Phillips, Steven; Catão, Luis; Ricci, Luca Antonio; … - International Monetary Fund (IMF) - 2013
The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing...
Persistent link: https://www.econbiz.de/10011142197