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Fiscal Policy, Stabilization, and Growth: Prudence or Abstinence?
Werneck, Rogério L.F.; Irwin, Timothy; Sturzenegger, … - Inter-American Development Bank
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects...
Persistent link: https://www.econbiz.de/10010943424
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Automatic Stabilization and Fiscal Policy: Some Quantitative Implications for Latin America and the Caribbean
Espino, Emilio; Rozada, Martín González - Inter-American Development Bank - 2012
This paper provides an estimation of the size of income and demand automatic stabilizers in a representative sample of … size of income and demand automatic stabilizers coefficients is much smaller than the size of these coefficients in Europe … income stabilization coefficient and two others affecting directly the demand stabilization coefficient. The main results …
Persistent link: https://www.econbiz.de/10010943765
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Why Don't We Tax the Rich? Inequality, Legislative Malapportionment, and Personal Income Taxation around the World
Scartascini, Carlos G.; Ardanaz, Martín - Inter-American Development Bank - 2011
This paper argues that the details of political institutions help explain the low levels of personal income taxation … 1990 and 2007, this paper finds that i) countries with historically more unequal distributions of wealth and income … lower shares of personal income taxes in GDP. present higher levels of legislative malapportionment, and ii) higher levels …
Persistent link: https://www.econbiz.de/10010944479
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2013 Latin American and Caribbean Macroeconomic Report: Rethinking Reforms: How Latin America and the Caribbean Can Escape Suppressed World Growth
Powell, Andrew - Inter-American Development Bank - 2013
Global growth projections have waned since last year and growth may be suppressed below potential for several years to come. Lower global growth will, all things being equal, imply lower growth in Latin America and the Caribbean. At the same time, clear limits to the potential use of monetary...
Persistent link: https://www.econbiz.de/10010672948
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Fiscal Policy, Stabilization, and Growth: Prudence or Abstinence?
Werneck, Rogério L.F.; Irwin, Timothy; Sturzenegger, … - Inter-American Development Bank
Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects...
Persistent link: https://www.econbiz.de/10010772370
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Review of the Need for a General Capital Increase of the Ordinary Capital and Replenishment of the Fund for Special Operations: Progress and Next Steps
Inter-American Development Bank; Inter-American … - 2009
Presented the first paper on review of the need for a general capital increase of the ordinary capital and replenishment of the fund for special operations.
Persistent link: https://www.econbiz.de/10009198477
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Does austerity pay off? : conference paper
Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes - 2014
Austerity measures are frequently enacted when the sustainability of public finances is in doubt. Such doubts are reflected in high sovereign yield spreads and put further strain on government finances. Is austerity successful in restoring market confidence, bringing about a reduction in yield...
Persistent link: https://www.econbiz.de/10010481328
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Returning to Surplus: New Zealand's Post-GFC Fiscal Consolidation Experience
Bose, Dhritidyuti; Philip, Renee; Sullivan, Richard - 2016
New Zealand's fiscal outlook deteriorated following the Global Financial Crisis, and in late 2008 fiscal projections showed net government debt in New Zealand increasing from 5% of GDP to around 40% within 10 years, mostly reflecting permanently lower expectations for future tax revenue. These...
Persistent link: https://www.econbiz.de/10012115711
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Decomposing total tax revenues in Germany
Leib, Karolina - 2010
Given the consolidation needs and the provisions of the new fiscal rule, budgetary planning in Germany has become more demanding. Fiscal projections are already difficult since the link between total tax revenue and economic activity is observed to be unstable. This Country Focus identifies...
Persistent link: https://www.econbiz.de/10009641056
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Estonia: towards a swift current account rebalancing
Lamine, Baudouin - 2010
This study focuses on the most important drivers of the swift current account rebalancing which is taking place in Estonia and considers the possible way forward. After very large deficits in the boom years (2005-2007), Estonia's current account balance turned positive in the downturn, as...
Persistent link: https://www.econbiz.de/10009641059