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Appendix I Data and Definitions

Appendix I Data and Definitions »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

An adjustment episode is defined as any year or succession of years of uninterrupted improvement in the fiscal primary balance, and focuses on the consolidated central government (o...

Appendix II Large Fiscal Adjustment Episodes

Appendix II Large Fiscal Adjustment Episodes »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

Table A2.1. Large Fiscal Adjustment Episodes 1...

Appendix III Case Studies of Large Fiscal Adjustment

Appendix III Case Studies of Large Fiscal Adjustment »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

Thirteen case studies were prepared to supplement the empirical analysis. 19 The case studies offer further evidence about success and adjustment d...

Appendix IV Econometric Methodology

Appendix IV Econometric Methodology »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

The duration of fiscal consolidation can be expressed by a hazard function. A hazard function measures the probability that a fiscal consolidation will end in time period t, provide...

Appendix V Macroeconomic Impact of Fiscal Adjustment

Appendix V Macroeconomic Impact of Fiscal Adjustment »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

Figure A5.1. Event Studies: Key Macroeconomic Indicators (Annual percentage change, unless indicated otherwise)...

Experience with Large Fiscal Adjustments

Experience with Large Fiscal Adjustments »

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

DOI: http://dx.doi.org/10.5089/9781589064584.084

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment...

Back Matter

Back Matter »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment...

Front Matter

Front Matter »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment...

I Overview

I Overview »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

There are instances when policymakers may have little option but to consider a sizable fiscal adjustment. In such circumstances, they may be confronted with questions such as, Can a large fiscal adjustment b...

II Introduction

II Introduction »

Source: Experience with Large Fiscal Adjustments

Series: Occasional Papers

Author(s): Mark Horton , George Tsibouris , Wojciech Maliszewski , and Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 June 2006

ISBN: 9781589064584

Keywords: Fiscal management, expenditure, fiscal adjustment, expenditures, fiscal adjustments, fiscal policy

This Occasional Paper describes the experience of countries that have undertaken large fiscal adjustments over the past three decades. It identifies preconditions, common policy approaches, and institutional...