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New Issues in Public Debt Management : Government Surpluses in Several OECD Countries, the Common Currency in Europe and Rapidly Rising Debt in Japan
Mylonas, Paul; Schich, Sebastian; Thorgeirsson, Thorsteinn - 2000
This paper reviews some of the difficult challenges facing debt managers in the years to come. In countries experiencing a rapidly diminishing gross debt, particularly the United States, this raises the issue of whether private-sector securities can serve as a substitute for the traditionally...
Persistent link: https://www.econbiz.de/10012445614
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The Fiscal Challenge in Portugal
Guichard, Stéphanie - 2006
Portugal’s fiscal policy has failed to durably reduce the deficit below the Stability and Growth Pact threshold of 3% of GDP and was submitted to the excessive deficit procedure of the EU Commission for a second time in 2005. The paper describes fiscal developments in Portugal over the past...
Persistent link: https://www.econbiz.de/10012444186
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Enhancing the Effectiveness of Public Spending in Finland
Hemmings, Philip - 2003
harmonise certain taxes with other EU countries. These pressures on taxation combined with the fiscal effects of rapid ageing …
Persistent link: https://www.econbiz.de/10012443937
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Getting Back on Track: Restoring Fiscal Sustainability in Ireland
Haugh, David - Economics Department, Organisation de Coopération et … - 2011
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances. Large public deficits have accumulated since 2008 and net public debt, which had been eliminated, has soared once again. The rapid deterioration...
Persistent link: https://www.econbiz.de/10009364451
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Israel: Monetary and Fiscal Policy
Moeser, Charlotte - Economics Department, Organisation de Coopération et … - 2010
Israel’s monetary policy framework is broadly sound. Inflation targeting was introduced in the early 1990s, and low single-digit inflation was established by the end of the decade. However, fast transmission from the exchange rate to inflation means the operational challenges differ somewhat...
Persistent link: https://www.econbiz.de/10008552861
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Brazil's Fiscal Stance during 1995-2005 : The Effect of Indebtedness on Fiscal Policy Over the Business Cycle
de Mello, Luiz - 2006
Brazil's fiscal adjustment since the floating of the real in 1999 has been impressive, even in periods of lacklustre growth. This suggests a remarkable fiscal effort to ensure public debt sustainability. To better gauge the magnitude of this adjustment effort, this paper applies the methodology...
Persistent link: https://www.econbiz.de/10012444388
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Enhancing the Effectiveness of Public Spending in Norway
Joumard, Isabelle; Suyker, Wim - Economics Department, Organisation de Coopération et … - 2002
Public spending is very high in Norway, partly reflecting an extensive coverage of the welfare system and ambitious regional development objectives. Moreover, several institutional features contribute to dampening the cost-effectiveness of many public-spending programmes. Abundant oil revenues...
Persistent link: https://www.econbiz.de/10005045873
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Long-Term Budgetary Implications of Tax-Favoured Retirement Plans
Antolín, Pablo - 2004
This paper provides estimates of the implicit fiscal assets as well as of the evolution over time of fiscal costs and revenues related to tax-favoured retirement saving regimes in 17 OECD countries, taking into account current and future contributions, asset accumulation and withdrawals, all of...
Persistent link: https://www.econbiz.de/10012444648
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Increasing Efficiency and Reducing Complexity in the Tax System in the United States
Herd, Richard - 2001
of improvements that could help reduce the distortions that taxation creates in the economy and so boost long …-run economic performance. The most noticeable gains could come from reforming the taxation of the income from capital. Savings are … income depending on the sector in which it is invested and the financing instruments that are used. In addition, taxation of …
Persistent link: https://www.econbiz.de/10012445968
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Interactions Between Monetary and Fiscal Policy: How Monetary Conditions Affect Fiscal Consolidation
Ahrend, Rudiger; Catte, Pietro; Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2006
This paper assesses how and in what circumstances, fiscal consolidations are affected by monetary conditions, using data covering 24 OECD countries over the past 25 years, Focusing on fiscal consolidation “episodes”, it is found that these tend to occur when large budget deficits threaten...
Persistent link: https://www.econbiz.de/10005045818