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Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation : A New Look at the Emerging Market Evidence

Volume/Issue: 2001/74

Series: IMF Working Papers

Author(s): Marco Terrones , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451849592

Keywords: inflation tax, monetary fund, inflation rates, inflation rate, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Empirical studies have had little success in finding a statistically significant relationship between fiscal deficits and inflation in broad cross-country panels. This paper provides new econometric estimates for a...

External Debt and Economic Reform

External Debt and Economic Reform »

Source: External Debt and Economic Reform : Does a Pain Reliever Delay the Necessary Treatment?

Volume/Issue: 2007/50

Series: IMF Working Papers

Author(s): Athanasios Vamvakidis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

ISBN: 9781451866148

Keywords: economic reform, external borrowing, foreign aid, external financing, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics, Macroeconomic Analyses of Economic Development,

Recent literature argues that conflict in shifting adjustment costs between different socioeconomic groups delays necessary reforms and finds that such reforms often follow economic crises. This paper expands these...

Fiscal Dominance and Inflation in the Democratic Republic of the Congo

Fiscal Dominance and Inflation in the Democratic Republic of the Congo »

Source: Fiscal Dominance and Inflation in the Democratic Republic of the Congo

Volume/Issue: 2005/221

Series: IMF Working Papers

Author(s): Jean-Claude Nachega

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

ISBN: 9781451862409

Keywords: Congo, stabilization in developing countries, money growth, money supply, monetary policy, monetary economics, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

This paper examines the fiscal dominance hypothesis in the Democratic Republic of the Congo (DRC) during 1981-2003, using multivariate cointegration analysis and vector errorcorrection modeling. Empirical results p...

Do Fixed Exchange Rates Induce More Fiscal Discipline?

Do Fixed Exchange Rates Induce More Fiscal Discipline? »

Source: Do Fixed Exchange Rates Induce More Fiscal Discipline?

Volume/Issue: 2003/78

Series: IMF Working Papers

Author(s): Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451850123

Keywords: Fiscal Discipline, exchange rate, fiscal authorities, exchange rate regime, fiscal authority, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics,

Conventional wisdom has held that a fixed exchange rate regime induces more fiscal discipline, but Tornell and Velasco (1995, 1998) argue the opposite. Using a dynamic model with fragmented fiscal policymaking, thi...

Different Strokes? Common and Uncommon Responses to Financial Crises

Different Strokes? Common and Uncommon Responses to Financial Crises »

Source: Different Strokes? Common and Uncommon Responses to Financial Crises

Volume/Issue: 2001/12

Series: IMF Working Papers

Author(s): James Boughton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

ISBN: 9781451842906

Keywords: financial crises, macroeconomic models, capital outflow, capital inflows, asian crisis, capital flows, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, International Monetary Arrangements and Institutions,

Much of the debate about the management of financial crises has focused on structural and psychological issues regarding the conditions that are supposed to be necessary to restore investor confidence. Nonetheless,...

Financial Sector Projections and Stress Testing in Financial Programming

Financial Sector Projections and Stress Testing in Financial Programming »

Source: Financial Sector Projections and Stress Testing in Financial Programming : A New Framework

Volume/Issue: 2006/33

Series: IMF Working Papers

Author(s): Antonio Garcia Pascual , Nada Choueiri , and Ritu Basu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862935

Keywords: Financial Programming, central bank, banking, banking sector, monetary sector, eurobonds, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Financial Institutions and Services: General,

This paper proposes a framework to check for consistency between the IMF's standard country surveillance tool, namely medium-term projections of the macroeconomic framework (including the real, fiscal, external, an...

Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation

Volume/Issue: 2003/65

Series: IMF Working Papers

Author(s): Luis Catão , and Marco Terrones

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451848700

Keywords: Macroeconomic Stabilization, price inflation, monetary policy, inflation tax, low inflation, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a n...

Governments’ Payment Discipline

Governments’ Payment Discipline »

Source: Governments' Payment Discipline : The Macroeconomic Impact of Public Payment Delays and Arrears

Volume/Issue: 2015/13

Series: IMF Working Papers

Author(s): Cristina Checherita-Westphal , Alexander Klemm , and Paul Viefers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2015

ISBN: 9781484317020

Keywords: Public payment delays, government arrears, payment, arrears, payments, accounts payable, credit, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

This paper considers the impact of changes in the payment discipline of governments on the private sector. We argue that increased delays in public payments can affect private sector liquidity and profits and hence...

Macro Effects of Corporate Restructuring in Japan

Macro Effects of Corporate Restructuring in Japan »

Source: Macro Effects of Corporate Restructuring in Japan

Volume/Issue: 2003/203

Series: IMF Working Papers

Author(s): Se-Jik Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451874471

Keywords: Corporate restructuring, macro effects, aggregate demand, labor income, capital income, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor produ...

Deficit Limits, Budget Rules, and Fiscal Policy

Deficit Limits, Budget Rules, and Fiscal Policy »

Source: Deficit Limits, Budget Rules, and Fiscal Policy

Volume/Issue: 2005/120

Series: IMF Working Papers

Author(s): Paolo Manasse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2005

ISBN: 9781451861396

Keywords: deficit limits, growth and stability pact, probability, equation, excessive deficits, fiscal frameworks, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, groth and stability pact,

The paper presents a simple model for discussing the effects of deficit limits and budget rules on fiscal policy. I find that limits on deficit-output ratios provide incentives to implement procyclical policies whe...