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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...

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...

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...

Effects of Fiscal Consolidation in the Czech Republic

Effects of Fiscal Consolidation in the Czech Republic »

Source: Effects of Fiscal Consolidation in the Czech Republic

Volume/Issue: 2011/65

Series: IMF Working Papers

Author(s): Stephen Snudden , and Vladimir Klyuev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455228058

Keywords: fiscal multipliers, general equilibrium models., fiscal rule, aggregate demand, labor income, consumption tax, National Budget, Deficit, and Debt: General,

This paper uses the IMF's Global Integrated Monetary and Fiscal Model (GIMF) to assess the impact of fiscal consolidation on the Czech economy. Its contribution is threefold. First, it provides estimates of dynamic...

The Functions and Impact of Fiscal Councils

The Functions and Impact of Fiscal Councils »

Source: The Functions and Impact of Fiscal Councils

Volume/Issue: 2013/063

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2013

ISBN: 9781498341493

Keywords: Financial management, Fiscal analysis, Fiscal policy, Public finance, Public sector borrowing requirements, National budgets, Economic conditions, Economic policy, policy rule, budget office

In recent years, a rapidly growing number of countries have established independent agencies aimed at promoting sound fiscal policies. Although these institutions vary greatly in terms of their remit, tasks, and in...

Procyclical Fiscal Policy

Procyclical Fiscal Policy »

Source: Procyclical Fiscal Policy : Shocks, Rules, and Institutions: A View From Mars

Volume/Issue: 2006/27

Series: IMF Working Papers

Author(s): Paolo Manasse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862874

Keywords: procyclicality, institutions, linear model, fiscal rule, parameter estimate, National Deficit Surplus, Neural Networks and Related Topics, Positive Analysis of Policy-Making and Implementation,

This paper assesses the roles of shocks, rules, and institutions as possible sources of procyclicality in fiscal policy. By employing parametric and nonparametric techniques, I reach the following four main conclus...