"El presente documento está compuesto por cuatro capítulos, excluyendo esta introducción, en donde se cuantifican esas sensibilidades y se estiman las necesidades de recursos tributarios que pueden surgir en consecuencia, para lo cual se utiliza el Modelo de Equilibrio General Computable de...

Para medir la sostenibilidad fiscal de un pais, es importante pensar en prospectiva y evaluar si las proyecciones fiscales de mediano plazo son consistentes con la disponibilidad de recursos y la consistencia entre aquellos programas que implican gasto publico y la disposicion a generar los...

This paper (1) examines the extent to which expenditure consolidation is occurring in 2010-11 among 126 low and middle income countries by compiling and analyzing projected fiscal trends using IMF data; (2) assesses the risks of contracting social spending, and presents common adjustment...

In the wake of the food, fuel and financial shocks, a fourth wave of the global economic crisis began to sweep across developing countries in 2010: fiscal austerity. Serving as an update of earlier research by UNICEF, this working paper: (i) examines the latest IMF government spending...

It is often argued that social protection is not affordable or that government expenditure cuts are inevitable during adjustment periods. But there are alternatives, even in the poorest countries. This working paper offers eight options that should be explored to expand fiscal space and generate...

According to recent studies, shocks on aggregated variables are associated with unequal impacts on the economic system, affecting more some agents and sectors than others according, depending on their characteristics. Theoretically, the mechanisms that differentiate shocks’ effects on economic...

This study provides a critical assessment of various fiscal policy instruments - including direct public job creation, active labour market and care policies, social protection measures and tax reforms - and their effectiveness in supporting the most vulnerable groups in the labour market....