effect of fiscal stabilizers may revert at high levels. We present evidence that for government expenditure ratios exceeding …We study the smoothing impact of fiscal stabilizers (proxied by government expenditures or revenues) on business cycle … increase in cyclical volatility. This may call for a reconsideration of the use of fiscal stabilizers for business cycle …

widespread poverty. Given the constraints of the current regime, prudent fiscal and wage policies will be essential to help avoid …

education spending more pro-poor by increasing the access of low-income households to schools. …

Does reliance on transfers weaken fiscal discipline and encourage pro-cyclical fiscal policies in recipient subnational … governments? Using fiscal reaction functions for a panel of the German Länder, this paper finds a positive answer to both … questions. Net-recipient states (Länder, benefiting from the transfer system) have not reduced primary expenditure significantly …

When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following … questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment best designed and implemented …? What will be its impact on the economy? This Occasional Paper addresses these questions by describing the experience of …

A strengthened fiscal position is at the core of most economic adjustment programs supported by IMF lending, especially … countries and evaluates their experience with fiscal and structural adjustment, including their efforts to design social safety …

The reform of fiscal policies and institutions lies at the heart of structural adjustment in developing countries …. Although the immediate aim of such reform is to reduce fiscal imbalances to achieve macroeconomic stability, the long-term goal … is to secure more durable improvements in fiscal performance. This study reviews the fiscal reform experience of 36 low …