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Can Statistical Capacity Building Help Reduce Procyclical Fiscal Policy in Developing Countries?

Can Statistical Capacity Building Help Reduce Procyclical Fiscal Policy in Developing Countries? »

Source: Can Statistical Capacity Building Help Reduce Procyclical Fiscal Policy in Developing Countries?

Volume/Issue: 2016/209

Series: IMF Working Papers

Author(s): Sampawende Tapsoba , Robert York , and Neree Noumon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2016

ISBN: 9781475552003

Keywords: Fiscal policy, Procyclicality, Capacity building, Budget institutions, Developing countries

Few papers have attempted to assess the role of 'capacity,' especially in the area of macroeconomic statistics. Consequently, we make an attempt to advance this literature through the construction of a 'statistical...

From Firm-Level Imports to Aggregate Productivity

From Firm-Level Imports to Aggregate Productivity »

Source: From Firm-Level Imports to Aggregate Productivity : Evidence from Korean Manufacturing Firms Data

Volume/Issue: 2016/162

Series: IMF Working Papers

Author(s): JaeBin Ahn , and Moon Jung Choi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2016

ISBN: 9781475523584

Keywords: Firm-level imports, Productivity pro-cyclicality, Aggregate TFP growth

Using the Korean manufacturing firm-level data, this paper confirms that three stylized facts on importing hold in Korea: the ratio of imported inputs in total inputs tends to be procyclical; the use of imported in...

Toward a Robust Fiscal Framework for Iceland

Toward a Robust Fiscal Framework for Iceland »

Source: Toward a Robust Fiscal Framework for Iceland : Motivation and Practical Suggestions

Volume/Issue: 2007/235

Series: IMF Working Papers

Author(s): Anthony Annett

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2007

ISBN: 9781451867992

Keywords: procyclicality, expenditure, total expenditure, fiscal rules, fiscal framework,

Expenditure in Iceland, especially related to the government wage bill, has tended to move in a procyclical manner, related to the fragmentation of political decision making. Iceland's elevated macroeconomic volati...

Financial Frictions and Business Cycles in Middle-Income Countries

Financial Frictions and Business Cycles in Middle-Income Countries »

Source: Financial Frictions and Business Cycles in Middle-Income Countries

Volume/Issue: 2008/20

Series: IMF Working Papers

Author(s): Jaime Guajardo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2008

ISBN: 9781451868821

Keywords: borrowing constraint, labor financing wedges, procyclical, countercyclical, real net exports, net exports, export sector, terms of trade, elasticity of substitution, open economy

A standard DSGE small open economy model can not generate the cyclical regularities of middle-income countries. It predicts excessive consumption smoothing, and procyclical, instead of countercyclical, real net exp...

Fiscal Politics in the Euro Area

Fiscal Politics in the Euro Area »

Source: Fiscal Politics in the Euro Area

Volume/Issue: 2017/18

Series: IMF Working Papers

Author(s): Luc Eyraud , Vitor Gaspar , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2017

ISBN: 9781475572919

Keywords: Political economy, Euro Area, Fiscal policy, Fiscal reforms, political economy factors, deficit bias, procyclicality, fiscal rules

This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries...

Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States

Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States »

Source: Strengthening Fiscal Frameworks and Improving the Spending Mix in Small States

Volume/Issue: 2015/124

Series: IMF Working Papers

Author(s): Ezequiel Cabezon , Patrizia Tumbarello , and Yiqun Wu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 June 2015

ISBN: 9781513529103

Keywords: revenue volatility, procyclical policies, quality of spending, revenue, debt, expenditure, public spending, General,

Reflecting diseconomies of scale in providing public goods and services, recurrent spending in small states typically represents a large share of GDP. For some small states, this limits the fiscal space available f...

Procyclicality and Fair Value Accounting

Procyclicality and Fair Value Accounting »

Source: Procyclicality and Fair Value Accounting

Volume/Issue: 2009/39

Series: IMF Working Papers

Author(s): Jodi Scarlata , Juan Sole , and Alicia Novoa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871876

Keywords: Procyclicality, fair value accounting, financial statements, financial stability, financial instruments, banking,

In light of the uncertainties about valuation highlighted by the 2007-2008 market turbulence, this paper provides an empirical examination of the potential procyclicality that fair value accounting (FVA) could intr...

Fiscal Cycles in the Caribbean

Fiscal Cycles in the Caribbean »

Source: Fiscal Cycles in the Caribbean

Volume/Issue: 2009/158

Series: IMF Working Papers

Author(s): Juliana Araujo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

ISBN: 9781451873054

Keywords: Procyclicality, fiscal accounts, natural disasters, expenditure, government expenditure, fiscal balance, tax revenues, Open Economy Macroeconomics,

The sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by l...

Bank Capitalization As a Signal

Bank Capitalization As a Signal »

Source: Bank Capitalization As a Signal

Volume/Issue: 2012/114

Series: IMF Working Papers

Author(s): Daniel Hardy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503357

Keywords: pro-cyclicality, signaling games, probability, equation, probability of default, present value,

The level of a bank‘s capitalization can effectively transmit information about its riskiness and therefore support market discipline, but asymmetry information may induce exaggerated or distortionary behavior: ban...

Do Dynamic Provisions Enhance Bank Solvency and Reduce Credit Procyclicality? a Study of the Chilean Banking System*

Do Dynamic Provisions Enhance Bank Solvency and Reduce Credit Procyclicality? a Study of the Chilean Banking System* »

Source: Do Dynamic Provisions Enhance Bank Solvency and Reduce Credit Procyclicality? a Study of the Chilean Banking System

Volume/Issue: 2012/124

Series: IMF Working Papers

Author(s): Jorge Chan-Lau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2012

ISBN: 9781475503531

Keywords: Dynamic provisions, procyclicality, simulation, Chile, banking, calibration, bank solvency, equation, statistics

Dynamic provisions could help to enhance the solvency of individual banks and reduce procyclicality. Accomplishing these objectives depends on country-specific features of the banking system, business practices, an...