With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal … crises, thereby restricting the policy space in a downturn. The empirical evidence to date is however inconclusive, and the …-examines the importance of public debt as a leading indicator of fiscal crises using machine learning techniques to account for …

guidance for policy-makers in the region for enhancing the quality and scope of macro-fiscal outputs …This paper examines the institutional arrangements of the macro-fiscal function in 16 African countries. Most … ministries of finance (MoFs) have established a macro-fiscal department or unit, but their functions, size, structure and outputs …

medium term. Our findings stress the importance of institutional and structural factors in the link between fiscal policy and … fiscal theory of the price level, but we do not find supportive evidence. The results suggest that the risk of a debt …

bank tax, and the U.S. administration has revived its own proposal for such a charge. This paper considers the structure … sharply at low capital ratios (but are likely lower when the government cannot commit to its bailout policy), reaching levels …

In this paper we provide short- and long-run tax buoyancy estimates for 107 countries (distributed between advanced … that: i) for advanced economies both long-run and short-run buoyancies are not different from one; ii) long run tax …

This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such … policy can effectively be implemented in practice. While, in principle, variable taxes could improve welfare in some cases …, the paper highlights the very particular circumstances that need to prevail. With liquidity constraints, a consumption-tax …

inclusive medium-term fiscal reform upfront-including increased tax capacity, higher public investment and strengthened social …Mexico's fiscal response to the pandemic has been modest compared to its peers, reflecting the authorities' desire to …, with further costs in the future. Balancing the need for stronger near-term fiscal support for the people and the recovery …