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Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria

Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria »

Source: Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria

Volume/Issue: 2018/124

Series: IMF Working Papers

Author(s): Maria Elkhdari , Moez Souissi , and Andrew Jewell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 May 2018

ISBN: 9781484357972

Keywords: Algeria, Middle East, Fiscal policy; State-dependent multipliers; Output gap; Spending direction; Algeria; Structural Vector Autoregressive Model; Local Projection Methodology, Fiscal policy, State-dependent multipliers, Output gap, Spending direction, Structural Vector Autoregressive Model, Local Projection Methodology, Model Construction and Estimation

At a time when Algeria must undertake considerable fiscal consolidation to restore sustainability, the issue of fiscal multipliers has come to the fore. This paper estimates short-term and long-term fiscal multipli...

Estimating Fiscal Multipliers with Correlated Heterogeneity*

Estimating Fiscal Multipliers with Correlated Heterogeneity* »

Source: Estimating Fiscal Multipliers with Correlated Heterogeneity

Volume/Issue: 2016/13

Series: IMF Working Papers

Author(s): Emmanouil Kitsios , and Manasa Patnam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2016

ISBN: 9781498389808

Keywords: Panel analysis, Economic theory, Fiscal policy, Government expenditures, Economic growth, Fiscal Multipliers, Nonseparable Unobserved Heterogeneity, Oil Price, Models with Panel Data

We estimate the average fiscal multiplier, allowing multipliers to be heterogeneous across countries or over time and correlated with the size of government spending. We demonstrate that this form of nonseparable u...

Europe

Europe »

Source: Europe : A Survey of Gender Budgeting Efforts

Volume/Issue: 2016/155

Series: IMF Working Papers

Author(s): Sheila Quinn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2016

ISBN: 9781475520088

Keywords: Gender budgeting, Europe, fiscal policies and administration, gender inequality

This paper surveys European gender budgeting efforts, which have enjoyed sustained support for more than a decade and a half. In a number of countries, gender budgeting led to significant changes in budget legislat...

The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform

The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform »

Source: The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform : The Case of China

Volume/Issue: 1989/26

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 March 1989

ISBN: 9781451981698

Keywords: fiscal policy, expenditure, taxation, government expenditure, government revenue

Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic manage...

External Adjustment in Oil Exporters

External Adjustment in Oil Exporters »

Source: External Adjustment in Oil Exporters : The Role of Fiscal Policy and the Exchange Rate

Volume/Issue: 2016/107

Series: IMF Working Papers

Author(s): Alberto Behar , and Armand Fouejieu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2016

ISBN: 9781484379929

Keywords: Keywords: Oil exporters, current account, trade balance, fiscal policy, exchange rates, trade volume elasticities, Marshall Lerner conditions

After the decline in oil prices, many oil exporters face the need to improve their external balances. Special characteristics of oil exporters make the exchange rate an ineffective instrument for this purpose and g...

Fading Ricardian Equivalence in Ageing Japan

Fading Ricardian Equivalence in Ageing Japan »

Source: Fading Ricardian Equivalence in Ageing Japan

Volume/Issue: 2016/194

Series: IMF Working Papers

Author(s): Ikuo Saito

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 September 2016

ISBN: 9781475541649

Keywords: Japan, ageing, Ricardian equivalence, myopia, liquidity constraints, multipliers, fiscal policy, public debt.

Japan seems to be turning less Ricardian, a trend set to continue. First, the discount wedge seems to have risen, suggesting that consumers have become more myopic. Second, some evidence points to the possibility t...

Financial Frictions and Stimulative Effects of Temporary Corporate Tax Cuts1

Financial Frictions and Stimulative Effects of Temporary Corporate Tax Cuts1 »

Source: Financial Frictions and Stimulative Effects of Temporary Corporate Tax Cuts

Volume/Issue: 2019/97

Series: IMF Working Papers

Author(s): William Gbohoui , and Rui Castro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 May 2019

ISBN: 9781498300889

Keywords: Tax revenue, Business cycles, Flow of funds, Interest rate determination, Corporate income taxes, Corporate Tax Policy, Financing Frictions, Investment Dynamics, Fiscal Policy Multipliers, Firm Heterogeneity.

This paper uses an industry equilibrium model where some firms are financially constrained to quantify the effects of a transitory corporate tax cut funded by a future tax increase on the U.S. economy. It finds tha...

Financial Stability and Fiscal Crises in a Monetary Union

Financial Stability and Fiscal Crises in a Monetary Union »

Source: Financial Stability and Fiscal Crises in a Monetary Union

Volume/Issue: 2001/200

Series: IMF Working Papers

Author(s): Samir Jahjah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451874358

Keywords: central bank, monetary union, fiscal policy, International Monetary Arrangements and Institutions, National Budget, Deficit, and Debt: General,

The main tasks of central banks are to secure price and financial stability. These objectives can, in times of crises, conflict with one another, and the central bank may have to renounce one of them in order to se...

Firm Investment, Corporate Finance, and Taxation

Firm Investment, Corporate Finance, and Taxation »

Source: Firm Investment, Corporate Finance, and Taxation

Volume/Issue: 2002/237

Series: IMF Working Papers

Author(s): Geremia Palomba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875720

Keywords: Firm Investment, Imperfect Capital Markets, Corporate Income Taxation, tax rate, taxation, tax policy, corporate taxation, cost of capital, Taxation and Subsidies: Incidence, Business Taxes and Subsidies including sales and value-added (VAT)

This paper examines the intertemporal effect of corporate income taxation on the investment behavior of a firm that faces imperfect capital markets. It shows that when capital markets are imperfect, the optimizing...

Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought

Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought »

Source: Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought

Volume/Issue: 2018/133

Series: IMF Working Papers

Author(s): Armand Fouejieu , Sergio Rodriguez , and Sohaib Shahid

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

ISBN: 9781484361573

Keywords: Economic growth, Government expenditures, Fiscal policy, Fiscal policy, Fiscal stimulus and multipliers, Gulf Cooperation Council (GCC), Fiscal Multiplier, GCC, General, Asia including Middle East

This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have...