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This paper examines fiscal cyclicality in the CEMAC region during 1980-2008. The issue has attracted very little empirical interest but is important if fiscal policies are to play a role in mitigating external shocks that exacerbate economic cycles across the region. We assess whether fiscal...
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The staff report for Rwanda’s combined 2008 Article IV Consultation, Fifth Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility, and Request for Waiver of Nonobservance of Performance Criterion is examined. Sound macroeconomic and structural policies...
Persistent link: https://www.econbiz.de/10011244841
Algeria has enjoyed several years of strong economic performance, but continues to face important challenges. This 2008 Article IV Consultation highlights that economic performance of Algeria has remained relatively favorable in 2008. The outlook remains encouraging despite the challenging...
Persistent link: https://www.econbiz.de/10011245522
Despite the effects of the international crisis, real nonhydrocarbon GDP (NHGDP) growth in 2009 exceeded the average of 6 percent. Algeria’s good economic performance supported by the authorities’ prudent fiscal and monetary policies and the favorable external environment are...
Persistent link: https://www.econbiz.de/10011245630
The financial sector of the Central African Economic and Monetary Community (CEMAC) has been seriously affected by the global financial crisis and resulting global recession. This note assesses the response of CEMAC governments to the global financial crisis and recession, with particular focus...
Persistent link: https://www.econbiz.de/10011245874
El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...
Persistent link: https://www.econbiz.de/10005076625
This paper reviews the existing empirical evidence on the short term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers' social security …
Persistent link: https://www.econbiz.de/10005022249