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Population Aging and Long-Term Fiscal Sustainability in Austria

Eskesen, Leif Lybecker - 2002

Austria faces significant population aging. This will increase public spending on pensions, health care, and long …-term care, while tax and social security revenues will fall. This paper analyzes the fiscal burden facing Austria due to aging … and the policy steps necessary to address it. The paper finds that Austria is not well prepared to meet the fiscal burden …

Persistent link: https://www.econbiz.de/10014399726

Medium-Term Budgetary Frameworks : Lessons for Austria From International Experience

Lundbäck, Erik J. - 2008

The Austrian government is about to introduce a new fiscal management framework. The first step is to introduce a medium-term budgetary framework, including an expenditure rule. The paper focuses on this first step. The purpose is to describe and evaluate the Austrian model in light of other...

Persistent link: https://www.econbiz.de/10014401747

Trust what you hear : policy communication, expectations, and fiscal credibility

End, Nicolas; Hong, Gee Hee - 2022

How do policy communications on future f iscal targets af fect market expectations and beliefs about the future conduct of f iscal policy? In this paper, we develop indicators of f iscal credibility that quantify the degree to which policy announcements anchor expectations, based on the...

Persistent link: https://www.econbiz.de/10013170265

A medium-scale DSGE model for the integrated policy framework

Adrian, Tobias; Gaspar, Vítor; Vitek, Francis - 2022

This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic general equilibrium (DSGE) model of the world...

Persistent link: https://www.econbiz.de/10013170322

Fiscal dominance in Sub-Saharan Africa revisited

Hooley, John; Nguyen, Lam; Saito, Mika; Towfighian, … - 2021

This paper explores the causes and consequences of fiscal dominance over monetary policy in Sub-Saharan Africa (SSA). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and increasingly so as fiscal deficits and public debt are...

Persistent link: https://www.econbiz.de/10012517915

A time to build : does technical assistance matter for revenue mobilization?

Chami, Ralph; Darkey, Elorm; Williams, Oral Highworth - 2021

We use a unique data set for 115 countries, from 2000-18, and 5-year non-overlapping averages to explore the impact of technical assitance on revenue mobilization. To the authors' knowledge this is the first such effort to determine a direct relationship between technical assistance and the...

Persistent link: https://www.econbiz.de/10012518287

Credit cycles, fiscal policy, and global imbalances

Jones, Callum; Rabanal, Pau - 2021

We study the role that changes in credit and fiscal positions play in explaining current account fluctuations. Empirically, the current account declines when credit increases, and when the fiscal balance declines. We use a two-country model with financial frictions and fiscal policy to study...

Persistent link: https://www.econbiz.de/10012518319

Fiscal policy challenges for Latin America during the next stages of the pandemic : the need for a fiscal pact

Cárdenas S., Mauricio; Ricci, Luca Antonio; Roldós, … - 2021

The fiscal policy response to the COVID-19 shock in most LAC countries was much larger than during the GFC, suggesting fiscal space was not as tight as expected. We argue that it is feasible and desirable, though not without risks, to embark in a more gradual consolidation path than currently...

Persistent link: https://www.econbiz.de/10012518923

SDG financing options in Rwanda : a post-pandemic assessment

Lledó, Victor D.; Perrelli, Roberto - 2021

This paper uses a novel macroeconomic framework to identify policy and financing options to help Rwanda achieve its sustainable development goals (SDGs). Under current policies, Rwanda would meet its SDGs right after 2050. Active policies that combine fiscal reforms and higher private sector...

Persistent link: https://www.econbiz.de/10012605067

A simple macrofiscal model for policy analysis : an application to Morocco

Baksa, Dániel; Bulíř, Aleš; Cardarelli, Roberto - 2021

The paper describes a semistructural macrofiscal approach to simulating and forecasting macroeconomic policies. The model focuses on only a few variables that are consistent with the New Keynesian framework. Thanks to its simplicity, it facilitates an initial and intuitive understanding of...

Persistent link: https://www.econbiz.de/10012605598

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