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period to the Economic andMonetary Union (EMU). Using several approaches suggested in the literatureon fiscal adjustments and … their macroeconomic effects and in the literatureon EMU, we analyze the effects of the fiscal adjustments during this … periodon private consumption. Thereby, we also take the specific context of thetransition towards EMU explicitly into …
Persistent link: https://www.econbiz.de/10011400376
period to the Economic andMonetary Union (EMU). Using several approaches suggested in the literatureon fiscal adjustments and … their macroeconomic effects and in the literatureon EMU, we analyze the effects of the fiscal adjustments during this … periodon private consumption. Thereby, we also take the specific context of thetransition towards EMU explicitly into …
Persistent link: https://www.econbiz.de/10010315166
Persistent link: https://www.econbiz.de/10011476904
Persistent link: https://www.econbiz.de/10012872836
Persistent link: https://www.econbiz.de/10012178866
This paper discusses the request from the Bosnia and Herzegovina authorities for a Stand-By Arrangement. The global financial and economic crisis hit Bosnia and Herzegovina when the overheating was already raising doubts about the sustainability of the economic expansion. The authorities’...
Persistent link: https://www.econbiz.de/10011244464
Angola’s economy was badly buffeted by the sharp drop in global oil prices. Policy discussions for the review focused on the 2011 budget, the handling of the arrears problem, monetary and exchange rate policies, and key elements of the authorities’ administrative and policy reform...
Persistent link: https://www.econbiz.de/10011244778
Grenada quickly recovered from the devastating effects of Hurricane Ivan. Executive Directors welcomed the economic reform program aimed to promote economic growth, restore fiscal and debt sustainability, reduce vulnerabilities, and alleviate poverty. They emphasized the need to strengthen the...
Persistent link: https://www.econbiz.de/10011244939
This paper reviews the trade-offs in Switzerland, focusing on challenges for fiscal policy coordination. It reviews the benefits and costs of a highly decentralized government, describes the Swiss institutional architecture, and analyzes Switzerland’s fiscal performance. It also discusses...
Persistent link: https://www.econbiz.de/10011244997
Owing to the high dependence of its exports on countries and commodities, Finland experienced the worst recession in the euro area. Executive Directors encouraged authorities to focus on improving bank cost efficiency, preventing excessive risk taking, and limiting liquidity and funding risks....
Persistent link: https://www.econbiz.de/10011245222