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Index Number Biases During Price Liberalization

Osband, Kent - 1991

When a formerly centrally-planned economy frees prices and allows or compels producers to respond to market signals, conventional measures tend to severely overstate short–run output decline and inflation. In part the overstatement stems from neglect of private sector activity, or from belated...

Persistent link: https://www.econbiz.de/10014398096

Corruption, Public Investment, and Growth

Tanzi, Vito - 1997

Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i)...

Persistent link: https://www.econbiz.de/10014401205

A New Index of Currency Mismatch and Systemic Risk

Rancière, Romain - 2010

This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly takes into account the indirect exchange rate risk that banks undertake when they lend to borrowers that will not be able to repay in the...

Persistent link: https://www.econbiz.de/10014402704

An Index Number Formula Problem : The Aggregation of Broadly Comparable items

Silver, Mick S. - 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 … as to why such formulas differ and proposes a solution to this index number problem …

Persistent link: https://www.econbiz.de/10014404313

Price Imputation and Other Techniques for Dealing with Missing Observations, Seasonality and Quality Change in Price Indices

Armknecht, Paul A. - 1999

Price index compilers frequently face situations where price observations are missing due to seasonal unavailability … indices. This paper presents statistical imputation techniques that index compilers can use to prevent bias and suggests the …

Persistent link: https://www.econbiz.de/10014400856

Sustainable Plans and Mutual Default

Chari, Varadarajan V. - 1990

This paper presents a model of optimal taxation in which both private agents and the government can default on their debt. We first consider Ramsey equilibria in which the government can precommit to its policies but in which private agents can default. We then consider sustainable equilibria in...

Persistent link: https://www.econbiz.de/10014396002

Indicators of Fiscal Sustainability

Horne, Jocelyn P. - 1991

This paper assesses the usefulness of summary measures of fiscal sustainability for the purpose of multilateral surveillance. An overview of the main conceptual issues is first presented. Next, an assessment is made of the strengths and weaknesses of the summary measures in the context of their...

Persistent link: https://www.econbiz.de/10014397870

Assessing Fiscal Sustainability in Theory and Practice

Chalk, Nigel Andrew - 2000

The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is the benchmark against which solvency is determined, tests of sustainability...

Persistent link: https://www.econbiz.de/10014399921

Fiscal Sustainability with Non-Renewable Resources

Chalk, Nigel Andrew - 1998

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural weaknesses in the underlying budgetary position, takes into account the rate of...

Persistent link: https://www.econbiz.de/10014400777

Fiscal Sustainability in Remittance-Dependent Economies

Chami, Ralph - 2009

We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio can be modified to create a more accurate representation of debt sustainability for a country that receives significant remittance inflows. The main result is that inclusion of...

Persistent link: https://www.econbiz.de/10014402461