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Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth1

Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth1 »

Source: Indexing Structural Distortion: Sectoral Productivity, Structural Change and Growth

Volume/Issue: 2017/205

Series: IMF Working Papers

Author(s): Sakai Ando , and Koffie Ben Nassar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 September 2017

ISBN: 9781484319277

Keywords: Productivity, sectoral distortion, growth, index, structural change, Information and Product Quality, General, International, or Comparative

This paper proposes a new index of sectoral labor distortion using employment and valueadded shares. We show that this index is highly correlated with growth both crosssectionally and over time. We also use it to c...

Public Debt Through the Ages

Public Debt Through the Ages »

Source: Public Debt Through the Ages

Volume/Issue: 2019/6

Series: IMF Working Papers

Author(s): Barry Eichengreen , Asmaa ElGanainy , Rui Pedro Esteves , and Kris James Mitchener

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 January 2019

ISBN: 9781484392898

Keywords: Soveriegn Debt, Debt History, Soveriegn Debt Crises, Sovereign Debt Composition, General, International, or Comparative

We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, d...

Global Debt Database: Methodology and Sources

Global Debt Database: Methodology and Sources »

Source: Global Debt Database: Methodology and Sources

Volume/Issue: 2018/111

Series: IMF Working Papers

Author(s): Samba Mbaye , Marialuz Moreno Badia , and Kyungla Chae

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 May 2018

ISBN: 9781484353592

Keywords: Public debt, historical debt, private debt, debt-to-GDP, debt database, General, General, International, or Comparative

This paper describes the compilation of the Global Debt Database (GDD), a cutting-edge dataset covering private and public debt for virtually the entire world (190 countries) dating back to the 1950s. The GDD is th...

The Liquidation of Government Debt1

The Liquidation of Government Debt1 »

Source: The Liquidation of Government Debt

Volume/Issue: 2015/7

Series: IMF Working Papers

Author(s): Carmen Reinhart , and M. Belen Sbrancia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2015

ISBN: 9781484369234

Keywords: deleveraging, financial repression, debt, interest, interest rates, real interest, General, General, International, or Comparative,

High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After...

Central Bank Governance

Central Bank Governance »

Source: Central Bank Governance : A Survey of Boards and Management

Volume/Issue: 2004/226

Series: IMF Working Papers

Author(s): JoAnne Morris , and Tonny Lybek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2004

ISBN: 9781451875416

Keywords: central bank, inflation, reserve bank, Economic History: Financial Markets and Institutions: General, International, or Comparative,

This paper identifies issues to consider when designing the structure, size, and composition of the governing boards and management of a central bank. While central bank autonomy and accountability are generally ac...

Shining a Light on the Mysteries of State: The Origins of Fiscal Transparency in Western Europe

Shining a Light on the Mysteries of State: The Origins of Fiscal Transparency in Western Europe »

Source: Shining a Light on the Mysteries of State : The Origins of Fiscal Transparency in Western Europe

Volume/Issue: 2013/219

Series: IMF Working Papers

Author(s): Timothy Irwin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 October 2013

ISBN: 9781475570946

Keywords: public accounts, public finances, fiscal information, government spending, General, International, or Comparative,

The extent of fiscal transparency in Western Europe has varied over the centuries. Although ancient Greek, Roman, and medieval governments were sometimes open about their finances, the absolute monarchies of the 16...

The Modern Hyperinflation Cycle: Some New Empirical Regularities

The Modern Hyperinflation Cycle: Some New Empirical Regularities »

Source: The Modern Hyperinflation Cycle: Some New Empirical Regularities

Volume/Issue: 2018/266

Series: IMF Working Papers

Author(s): Jose Saboin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2018

ISBN: 9781484385388

Keywords: Hyperinflation, Institutions, Social Infrastructure, Economic Freedoms, Multilateral Assistance, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, International Lending and Debt Problems, General

Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this pap...

From Volatility to Stability in Expenditure: Stabilization Funds in Resource-Rich Countries

From Volatility to Stability in Expenditure: Stabilization Funds in Resource-Rich Countries »

Source: From Volatility to Stability in Expenditure : Stabilization Funds in Resource-Rich Countries

Volume/Issue: 2014/43

Series: IMF Working Papers

Author(s): Naotaka Sugawara

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2014

ISBN: 9781475515275

Keywords: stabilization fund, fiscal volatility, government expenditure, institution, stabilization, expenditure, public spending, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, General, Government Policy,

This paper examines the effect of stabilization funds on the volatility of government expenditure in resource-rich countries. Using a panel data set of 68 resource-rich countries over 1988-2012, the results find th...

Inflation Targeting and Fiscal Rules

Inflation Targeting and Fiscal Rules »

Source: Inflation Targeting and Fiscal Rules : Do Interactions and Sequencing Matter?

Volume/Issue: 2014/89

Series: IMF Working Papers

Author(s): Jean-Louis Combes , Xavier Debrun , Alexandru Minea , and Rene Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 May 2014

ISBN: 9781498322379

Keywords: institutional reform sequencing, inflation, inflation rate, terms of trade, Monetary Policy (Targets, Instruments, and Effects), Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, Deficit,

The paper examines the joint impact of inflation targeting (IT) and fiscal rules (FR) on fiscal behavior and inflation in a broad panel of advanced and developing economies over the period 1990-2009. The main contr...

(Not) Dancing Together

(Not) Dancing Together »

Source: (Not) Dancing Together : Monetary Policy Stance and the Government Spending Multiplier

Volume/Issue: 2015/114

Series: IMF Working Papers

Author(s): Vincent Belinga , and Constant Lonkeng Ngouana

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 May 2015

ISBN: 9781513572185

Keywords: Spending multiplier, accommodative monetary policy, local projections, government spending, interest rates, interest, Quantitative Policy Modeling, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy,

This paper provides estimates of the government spending multiplier over the monetary policy cycle. We identify government spending shocks as forecast errors of the growth rate of government spending from the Surve...