Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

In 2005, the German government announced a far-reaching fiscal adjustment program. This paper uses the IMF’s Global … Fiscal Model to study its impact and explores options for addressing long-term pressures from population aging. The growth … effects of the planned VAT increase are likely modest, largely owing to the stimulating effect of other tax reductions. The …

taxes and flat taxes, as well as the worldwide spread of the VAT and policy developments associated with climate change and …

Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a …

higher VAT is the most viable option and has a smaller negative impact on growth than other fiscal measures; (ii) achieving …Japan's key fiscal challenge is to put public finances on a more sustainable footing. This paper investigates the … macroeconomic implications of alternative fiscal strategies for Japan using the IMF's Global Fiscal Model. The results suggest that …

's compliance with its fiscal adjustment targets, the proposed reform is subject to a non increasing path for the level of public … individuals experienced an increase in their lifetime welfare. This result rejects the hypothesis that the on-going fiscal …

This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. We focus on … response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we … estimate the macroeconomic effects of fiscal consolidation. …