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Absorption Boom and Fiscal Stance

Absorption Boom and Fiscal Stance »

Source: Absorption Boom and Fiscal Stance : What Lies Ahead in Eastern Europe?

Volume/Issue: 2010/97

Series: IMF Working Papers

Author(s): Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

ISBN: 9781451982749

Keywords: Pro-cyclicality, cyclically-adjusted fiscal balance, expenditure, capital expenditure, social expenditure, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General,

This paper estimates revenue and expenditure pro-cyclicality with respect to output and domestic absorption in new member states of the European Union and Croatia to assess whether these countries used the boom yea...

Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs

Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs »

Source: Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs

Volume/Issue: 1997/31

Series: IMF Working Papers

Author(s): Willem Buiter

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1997

ISBN: 9781451980073

Keywords: debt, interest, public debt, deficits, fiscal deficits

Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The p...

Assessing Fiscal Stress

Assessing Fiscal Stress »

Source: Assessing Fiscal Stress

Volume/Issue: 2011/100

Series: IMF Working Papers

Author(s): Gabriela Dobrescu , Iva Petrova , Nazim Belhocine , and Emanuele Baldacci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455254316

Keywords: fiscal stress, fiscal vulnerability, public debt crises, sovereign default, public debt, fiscal indicators, fiscal crisis, fiscal variables, National Deficit Surplus, Studies of Particular Policy Episodes

This paper develops a new index which provides early warning signals of fiscal sustainability problems for advanced and emerging economies. Unlike previous studies, the index assesses the determinants of fiscal str...

Bond Yields in Emerging Economies

Bond Yields in Emerging Economies »

Source: Bond Yields in Emerging Economies : It Matters What State You Are In

Volume/Issue: 2012/198

Series: IMF Working Papers

Author(s): Laura Jaramillo , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505481

Keywords: Emerging Market Economies, Fiscal Deficit, bond, bond yields, domestic bond, Financial Markets and the Macroeconomy,

While many studies have looked into the determinants of yields on externally issued sovereign bonds of emerging economies, analysis of domestically issued bonds has hitherto been limited, despite their growing rele...

Budget Deficits and Interest Rates

Budget Deficits and Interest Rates »

Source: Budget Deficits and Interest Rates : A Fresh Perspective

Volume/Issue: 2008/42

Series: IMF Working Papers

Author(s): Ari Aisen , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

ISBN: 9781451869040

Keywords: system GMM, inflation, budget deficit, money supply,

We extend the literature on budget deficits and interest rates in three ways: we examine both advanced and emerging economies and for the first time a large emerging market panel; explore interactions to explain so...

Can Budget Institutions Counteract Political Indiscipline?

Can Budget Institutions Counteract Political Indiscipline? »

Source: Can Budget Institutions Counteract Political Indiscipline?

Volume/Issue: 2006/123

Series: IMF Working Papers

Author(s): Ashoka Mody , and Stefania Fabrizio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863833

Keywords: budget institutions, electoral rules, government fragmentation, government ideology, ethnic fractionalization, voter turnover, fiscal institutions, fiscal performance, fiscal discipline, Analysis of Collective Decision-Making: General

The budget is an expression of political rather than economic priorities. We confirm this proposition for a group of new and potential members of the European Union, finding that politics dominates. The contemporar...

Convergence in Emerging Europe

Convergence in Emerging Europe »

Source: Convergence in Emerging Europe : Sustainability and Vulnerabilities

Volume/Issue: 2008/181

Series: IMF Working Papers

Author(s): Athanasios Vamvakidis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451870398

Keywords: European Economy, Current Account Adjustment, current account, current account deficits, real gdp,

The emerging European economies have been converging rapidly towards the more advanced European economies in recent years. However, large external imbalances in parts of the region have raised questions about susta...

Cost and Effectiveness of Banking Sector Restructuring in Transition Economies

Cost and Effectiveness of Banking Sector Restructuring in Transition Economies »

Source: Cost and Effectiveness of Banking Sector Restructuring in Transition Economies

Volume/Issue: 2001/157

Series: IMF Working Papers

Author(s): Edda Zoli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451857498

Keywords: transition countries, fiscal costs of banking crises, banking, banking sector, banking sector problems, bonds, Financial Institutions and Services: Government Policy and Regulation, Socialist Systems and Transitional Economies: General, National Budget, Deficit

The paper analyses the cost and effectiveness of bank restructuring policies in 11 transition countries during 1991-98. It argues that country-specific banking sector features, the size of bad loans inherited from...

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries

The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries »

Source: The Cyclical and Long-Term Behavior of Government Expenditures in Developing Countries

Volume/Issue: 2004/202

Series: IMF Working Papers

Author(s): Gabriela Inchauste , Bernardin Akitoby , Benedict Clements , and Sanjeev Gupta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2004

ISBN: 9781451874433

Keywords: Wagner&;amp;#x2019;s law, government spending, public spending, public finance, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General,

We examine the short- and long-term movements of government spending relative to output in 51 countries. We find that in the short term, the main components of government spending increase with output in about half...

Deep Roots of Fiscal Behavior

Deep Roots of Fiscal Behavior »

Source: Deep Roots of Fiscal Behavior

Volume/Issue: 2014/45

Series: IMF Working Papers

Author(s): Serhan Cevik , and Katerina Teksoz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2014

ISBN: 9781475516111

Keywords: fiscal reaction functions, fiscal policy volatility, budget balance, discretionary fiscal policy, fiscal reaction, primary budget balance, General, Deficit,

This paper investigates the determinants of fiscal policy behavior and its time-varying volatility, using panel data for a broad set of advanced and emerging market economies during the period 1990-2012. The empiri...