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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...

Fiscal Policies and Rules in the Face of Revenue Volatility within Southern Africa Customs Union Countries (SACU)

Fiscal Policies and Rules in the Face of Revenue Volatility within Southern Africa Customs Union Countries (SACU) »

Source: Fiscal Policies and Rules in the Face of Revenue Volatility within Southern Africa Customs Union Countries (SACU)

Volume/Issue: 2012/93

Series: IMF Working Papers

Author(s): Olivier Basdevant

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

ISBN: 9781475502831

Keywords: Fiscal rule, SACU, expenditure, fiscal rules, National Budget, Deficit, and Debt: General,

Following the onset of the global economic crisis in 2008, SACU member countries have witnessed a significant growth slowdown, and a deterioration of their fiscal balances. This paper (i) assesses options for the d...

Enforcement and the Stability and Growth Pact

Enforcement and the Stability and Growth Pact »

Source: Enforcement and the Stability and Growth Pact : How Fiscal Policy Did and Did Not Change Under Europe's Fiscal Framework

Volume/Issue: 2006/116

Series: IMF Working Papers

Author(s): Anthony Annett

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863765

Keywords: enforcement, fiscal governance, fiscal framework, fiscal performance, fiscal rules, National Deficit Surplus,

The Stability and Growth Pact has been a success in numerous EU countries, especially in guiding them toward underlying fiscal balance ahead of population aging. These countries tend to be smaller, subject to great...

Fiscal Rules

Fiscal Rules »

Source: Fiscal Rules : Useful Policy Framework or Unnecessary Ornament?

Volume/Issue: 2001/145

Series: IMF Working Papers

Author(s): George Kopits

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2001

ISBN: 9781451856545

Keywords: fiscal rules, expenditure, fiscal policy rules, capital expenditure, Investment, And Finance, Taxation, national Budget, Deficit, And Debt,

With the primary objective of conferring credibility on macroeconomic policies, an increasing number of advanced and emerging market economies have adopted various forms of fiscal rules (mainly balanced-budget requ...

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...

Assessing Fiscal Sustainability

Assessing Fiscal Sustainability »

Source: Assessing Fiscal Sustainability : A Cross-Country Comparison

Volume/Issue: 2003/145

Series: IMF Working Papers

Author(s): Enzo Croce , and V. Juan-Ramon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451856569

Keywords: convergence, fiscal rule, public debt, debt ratio, fiscal stance, National Government Expenditures and Related Policies, National Budget, Deficit, and Debt,

To monitor fiscal sustainability, this paper proposes a recursive algorithm derived from the law of motion of the debt-to-GDP ratio, subject to a government reaction function that links convergence to the targeted...

Anchor Me: The Benefits and Challenges of Fiscal Responsibility

Anchor Me: The Benefits and Challenges of Fiscal Responsibility »

Source: Anchor Me: The Benefits and Challenges of Fiscal Responsibility

Volume/Issue: 2019/70

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2019

ISBN: 9781498302937

Keywords: Economic stabilization, Fiscal policy, National budgets, Budgetary policy, Fiscal stimulus, procyclicality, structural budget balances, fiscal rules, output gap, countercyclical

This paper discusses the benefits and challenges of implementing a rule-based fiscal responsibility framework, using the Philippines as a case study. It estimates structural measures of the fiscal stance over the p...

Managing Revenue Volatility in a Small Island Economy

Managing Revenue Volatility in a Small Island Economy »

Source: Managing Revenue Volatility in a Small Island Economy : The Case of Kiribati

Volume/Issue: 2005/154

Series: IMF Working Papers

Author(s): Catriona Purfield

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2005

ISBN: 9781451861730

Keywords: Volatiliy, fiscal policy rules, sustainability, expenditure, expenditures, medium-term fiscal framework, fiscal rules, National Government Expenditures and Related Policies: General, Volatility,

The formulation of fiscal policy in Kiribati faces unusual challenges. Kiribati's revenue base is among the most volatile in the world, and it possesses sizeable financial assets. Drawing on lessons from some other...

Fiscal Policy over the Election Cycle in Low-Income Countries1

Fiscal Policy over the Election Cycle in Low-Income Countries1 »

Source: Fiscal Policy over the Election Cycle in Low-Income Countries

Volume/Issue: 2013/153

Series: IMF Working Papers

Author(s): Christian Ebeke , and Dilan Ölcer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 June 2013

ISBN: 9781475588514

Keywords: Elections, IMF programs, tax revenues, national fiscal rules, fiscal policy, fiscal rule, Economic Models of Political Processes: Rent-Seeking, Legislatures, and Voting Behavior,

Focusing on Low-Income Countries, we investigate the behavior of fiscal variables during and after elections. The results indicate that during election years, government consumption significantly increases and lead...

Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods

Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods »

Source: Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods

Volume/Issue: 2005/226

Series: IMF Working Papers

Author(s): Philippe Karam , and Douglas Hostland

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862454

Keywords: risk measures, fiscal rule, public debt, external debt, debt burden, current account, primary fiscal balance, Simulation Methods, National Deficit Surplus,

This paper applies stochastic simulation methods to assess debt sustainability in emerging market economies and provide probability measures for projections of the external and public debt burden over the medium te...