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An Assessment of Fiscal Rules in the United Kingdom

An Assessment of Fiscal Rules in the United Kingdom »

Source: An Assessment of Fiscal Rules in the United Kingdom

Volume/Issue: 2001/91

Series: IMF Working Papers

Author(s): Michael Kell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2001

ISBN: 9781451851519

Keywords: intergenerational equity, fiscal stability, fiscal stance, National Deficit Surplus,

The paper assesses the United Kingdom's golden rule and debt rule against "ideal characteristics" of fiscal rules. It concludes that they are clearly defined; transparent in institutional arrangements and measureme...

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...

Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe: A Note

Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe: A Note »

Source: Central Bank Quasi-Fiscal Losses and High Inflation in Zimbabwe : A Note

Volume/Issue: 2007/98

Series: IMF Working Papers

Author(s): Sònia Muñoz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866629

Keywords: Quasi-fiscal Deficit, High Inflation, central bank, monetary fund, open market operations, National Deficit Surplus,

Zimbabwe's failure to address continuing central bank quasi-fiscal losses has interfered with both monetary management and the independence and credibility of the Reserve Bank of Zimbabwe (RBZ). Realized quasi-fisc...

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....

Primary Surpluses and sustainable Debt Levels in Emerging Market Countries

Primary Surpluses and sustainable Debt Levels in Emerging Market Countries »

Source: Primary Surpluses and sustainable Debt Levels in Emerging Market Countries

Volume/Issue: 2005/6

Series: IMF Policy Discussion Papers

Author(s): Jonathan Ostry , and Abdul Abiad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451975703

Keywords: Primary surplus;, public debt sustainability, debt, public debt, primary surplus, debt sustainability, interest rates, National Budget, Deficit, and Debt,

This paper aims to put some constraints on the way primary surpluses are projected when making assessments of public debt sustainability. Projections should be tied either to the country's historical track record i...

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...