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The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability

The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability »

Source: The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability

Volume/Issue: 1996/72

Series: IMF Working Papers

Author(s): Francesco Mongelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1996

ISBN: 9781451849295

Keywords: fiscal sustainability, public debt, fiscal discipline, fiscal variables, government expenditure

This paper presents a methodology to analyze the responsiveness of fiscal sustainability to the “endogenous fiscal discipline” that will be strengthened by the EMU. This discipline arises in response...

An Empirical Analysis of Fiscal Adjustments

An Empirical Analysis of Fiscal Adjustments »

Source: An Empirical Analysis of Fiscal Adjustments

Volume/Issue: 1996/59

Series: IMF Working Papers

Author(s): Robert Westcott , and C. McDermott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1996

ISBN: 9781451965957

Keywords: fiscal consolidation, expenditure cuts, expenditure, fiscal policy, public debt

This study uses the fiscal expansion and consolidation experiences of the industrial countries over the period 1970 to 1995 to examine the interplay between fiscal adjustments and economic performance. A key findin...

An Empirical Analysis of Fiscal Adjustments

An Empirical Analysis of Fiscal Adjustments »

Volume/Issue: 1996/59

Series: IMF Working Papers

Author(s): Robert Westcott , and C. McDermott

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1996

DOI: http://dx.doi.org/10.5089/9781451965957.001

ISBN: 9781451965957

Keywords: fiscal consolidation, expenditure cuts, expenditure, fiscal policy, public debt

This study uses the fiscal expansion and consolidation experiences of the industrial countries over the period 1970 to 1995 to examine the interplay between fiscal adjustments and economic performance. A key findin...

Recognizing the Bias
			: Financial Cycles and Fiscal Policy

Recognizing the Bias : Financial Cycles and Fiscal Policy »

Volume/Issue: 2015/246

Series: IMF Working Papers

Author(s): Nina Budina , Borja Gracia , Xingwei Hu , and Sergejs Saksonovs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2015

DOI: http://dx.doi.org/10.5089/9781513508863.001

ISBN: 9781513508863

Keywords: housing cycles, private debt, debt bias, debt, price, output, prices, International Lending and Debt Problems, All Countries, debt bias.,

This paper argues that asset price cycles have significant effects on fiscal outcomes. In particular, there is evidence of debt bias-the tendency of debt to increase over the cycle- that is significantly larger for...

Signaling Fiscal Regime Sustainability

Signaling Fiscal Regime Sustainability »

Volume/Issue: 1999/86

Series: IMF Working Papers

Author(s): Alessandro Prati , and Francesco Drudi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

DOI: http://dx.doi.org/10.5089/9781451850864.001

ISBN: 9781451850864

Keywords: signaling, fiscal stabilization, tax smoothing, debt sustainability, credit ratings, debt stock, stock of debt, public debt, fiscal regime, primary deficit

This paper proposes a signaling model that offers a new perspective on why governments deviate from optimal tax smoothing and delay debt stabilization. In our model, dependable—but not fully credible—...

Stock-Flow Adjustments and Fiscal Transparency
			: A Cross-Country Comparison

Stock-Flow Adjustments and Fiscal Transparency : A Cross-Country Comparison »

Volume/Issue: 2012/39

Series: IMF Working Papers

Author(s): Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781463933821.001

ISBN: 9781463933821

Keywords: debt, deficits, interest, National Budget, Deficit, and Debt: General, International Lending and Debt Problems,

Over the past three decades, large and persistent discrepancies between the annual change in public debt and the budget deficit, so-called stock-flow adjustments, were a prominent feature of debt dynamics in many e...

The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability

The Effects of the European Economic and Monetary Union (EMU)on National Fiscal Sustainability »

Volume/Issue: 1996/72

Series: IMF Working Papers

Author(s): Francesco Mongelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1996

DOI: http://dx.doi.org/10.5089/9781451849295.001

ISBN: 9781451849295

Keywords: fiscal sustainability, public debt, fiscal discipline, fiscal variables, government expenditure

This paper presents a methodology to analyze the responsiveness of fiscal sustainability to the “endogenous fiscal discipline” that will be strengthened by the EMU. This discipline arises in response...

The Role of Foreign Currency Debt in Public Debt Management

The Role of Foreign Currency Debt in Public Debt Management »

Volume/Issue: 1995/21

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1995

DOI: http://dx.doi.org/10.5089/9781451843880.001

ISBN: 9781451843880

Keywords: debt, public debt, debt management, currency debt, foreign currency debt

This paper analyzes the choice between public debt denominated in domestic currency and foreign currency in the context of public debt management theories. It discusses the experience of Belgium, Denmark, Ireland,...

Recognizing the Bias

Recognizing the Bias »

Source: Recognizing the Bias : Financial Cycles and Fiscal Policy

Volume/Issue: 2015/246

Series: IMF Working Papers

Author(s): Nina Budina , Borja Gracia , Xingwei Hu , and Sergejs Saksonovs

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2015

ISBN: 9781513508863

Keywords: housing cycles, private debt, debt bias, debt, price, output, prices, International Lending and Debt Problems, All Countries, debt bias.,

This paper argues that asset price cycles have significant effects on fiscal outcomes. In particular, there is evidence of debt bias-the tendency of debt to increase over the cycle- that is significantly larger for...

The Role of Foreign Currency Debt in Public Debt Management

The Role of Foreign Currency Debt in Public Debt Management »

Source: The Role of Foreign Currency Debt in Public Debt Management

Volume/Issue: 1995/21

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1995

ISBN: 9781451843880

Keywords: debt, public debt, debt management, currency debt, foreign currency debt

This paper analyzes the choice between public debt denominated in domestic currency and foreign currency in the context of public debt management theories. It discusses the experience of Belgium, Denmark, Ireland,...