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Suggestions for Alternative Measures of Budget Balance for South Africa

Suggestions for Alternative Measures of Budget Balance for South Africa »

Source: Suggestions for Alternative Measures of Budget Balance for South Africa

Volume/Issue: 2002/110

Series: IMF Working Papers

Author(s): Davina Jacobs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2002

ISBN: 9781451853353

Keywords: Budget deficit, fiscal stance, budget balance, fiscal policy, budget balances, public debt, National Deficit Surplus,

The following hypothesis was set and tested by this study: is the conventional budget balance, as generally accepted and used, still relevant for South Africa? The paper found that several possible alternatives are...

Fiscal sustainability and the fiscal reaction function for South Africa

Fiscal sustainability and the fiscal reaction function for South Africa »

Source: Fiscal sustainability and the fiscal reaction function for South Africa

Volume/Issue: 2011/69

Series: IMF Working Papers

Author(s): Charl Jooste , Alfredo Cuevas , Ian Stuart , and Philippe Burger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455227105

Keywords: Fiscal reaction function, deficits, equation, fiscal reaction, fiscal policy, fiscal reaction functions, National Deficit Surplus,

How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space mode...

Quasi-Fiscal Deficit in Non-Financial Enterprises

Quasi-Fiscal Deficit in Non-Financial Enterprises »

Source: Quasi-Fiscal Deficit in Non-Financial Enterprises

Volume/Issue: 2007/10

Series: IMF Working Papers

Author(s): Robert Tchaidze

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2007

ISBN: 9781451865745

Keywords: quasi-fiscal deficit, implicit subsidies, tax arrears, payment arrears, subsidies, fiscal deficit, budget deficit, quasi-fiscal activities, National Deficit Surplus,

This paper discusses two ways of evaluating the quasi-fiscal deficit (QFD) and the link between them. It also suggests how to properly account for the QFD when calculating the overall deficit of the public sector....

On the Properties of Various Estimators for Fiscal Reaction Functions

On the Properties of Various Estimators for Fiscal Reaction Functions »

Source: On the Properties of Various Estimators for Fiscal Reaction Functions

Volume/Issue: 2006/182

Series: IMF Working Papers

Author(s): Oya Celasun , and Joong Kang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2006

ISBN: 9781451864427

Keywords: Fiscal reaction functions, panel data, dynamic models, equation, fiscal reaction, equations, public debt, National Deficit Surplus,

This paper evaluates the bias of the least-squares-with-dummy-variables (LSDV) method in fiscal reaction function estimations. A growing number of studies estimate fiscal policy reaction functions-that is, relation...

Identifying Fiscal Policy Transmission in Stochastic Debt Forecasts

Identifying Fiscal Policy Transmission in Stochastic Debt Forecasts »

Source: Identifying Fiscal Policy Transmission in Stochastic Debt Forecasts

Volume/Issue: 2011/107

Series: IMF Working Papers

Author(s): Kei Kawakami , and Rafael Romeu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455261369

Keywords: debt, interest, interest rate, interest rates, budget, Simulation Methods, National Deficit Surplus,

A stochastic debt forecasting framework is presented where projected debt distributions reflect both the joint realization of the fiscal policy reaction to contemporaneous stochastic macroeconomic projections, and...

Fiscal Objective in the Post IMF Program World

Fiscal Objective in the Post IMF Program World »

Source: Fiscal Objective in the Post IMF Program World : The Case of Albania

Volume/Issue: 2010/77

Series: IMF Working Papers

Author(s): Jiri Jonas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

ISBN: 9781451982206

Keywords: public debt, debt ratio, fiscal rule, fiscal balance, National Deficit Surplus,

The paper discusses the challenges facing Albania's fiscal policy following the graduation from the IMF programs. It argues that Albania's public debt remains too high and needs to be reduced. Strengthening the fis...

Fiscal Adjustment in EU Countries

Fiscal Adjustment in EU Countries »

Source: Fiscal Adjustment in EU Countries : A Balance Sheet Approach

Volume/Issue: 2004/143

Series: IMF Working Papers

Author(s): Kenji Moriyama , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2004

ISBN: 9781451856378

Keywords: government assets, net worth, public debt, budget balance, fiscal measures, National Deficit Surplus,

Several European Union countries have recently implemented or are envisaging fiscal that operations improve budgetary figures but have no structural impact on government finances. This paper evaluates some of these...

Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle

Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle »

Source: Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle

Volume/Issue: 2010/28

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962536

Keywords: fiscal impulses, Structure, Scope, and Performance of Government, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General, National Deficit Surplus,

This paper presents a detailed analysis of the average fiscal policy responses of oil producing countries (OPCs) to the recent oil price cycle. We find that OPCs worsened their non-oil primary balances substantiall...

Fiscal Rules in Response to the Crisis

Fiscal Rules in Response to the Crisis »

Source: Fiscal Rules in Response to the Crisis : Toward the "Next-Generation" Rules: A New Dataset

Volume/Issue: 2012/187

Series: IMF Working Papers

Author(s): Nina Budina , Andrea Schaechter , Anke Weber , and Tidiane Kinda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505351

Keywords: fiscal governance, budget balance, national fiscal rules, fiscal rule, Structure, Scope, and Performance of Government, National Deficit Surplus,

Strengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - co...

Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies

Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies »

Source: Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies

Volume/Issue: 2011/173

Series: IMF Working Papers

Author(s): Xavier Debrun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781462313327

Keywords: Fiscal councils, deficit bias, delegation, central bank, fiscal institutions, fiscal agencies, Structure, Scope, and Performance of Government, National Deficit Surplus,

Despite growing interest among policymakers, there is no theory of independent fiscal institutions. The emerging literature on "fiscal councils" typically makes informal parallels with the theory of central bank in...