Browse

You are looking at 1 - 10 of 107 items :

  • Public Finance x
  • Business and Economy x
  • Asia and the Pacific x
  • IMF Working Papers x
  • Keywords: debt x
Clear All
Assessing Fiscal Sustainability in Theory and Practice1

Assessing Fiscal Sustainability in Theory and Practice1 »

Source: Assessing Fiscal Sustainability in Theory and Practice

Volume/Issue: 2000/81

Series: IMF Working Papers

Author(s): Nigel Chalk , and Richard Hemming

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2000

ISBN: 9781451850352

Keywords: Government deficits and debt, present value budget constraint, sustainability indicators, fiscal sustainability, debt ratio, budget constraint, primary deficit

The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is...

Can Debt Crises Be Self-Fulfilling?

Can Debt Crises Be Self-Fulfilling? »

Source: Can Debt Crises Be Self-Fulfilling?

Volume/Issue: 2004/99

Series: IMF Working Papers

Author(s): Marcos Chamon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451852301

Keywords: Debt crises, multiple equilibria, financial innovation, investors, short-term debt, sovereign debt, public debt, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Several papers argue that debt crises can be the result of self-fulfilling expectations that no one will lend to a country. I show this type of coordination failure can be eliminated by a combination of state-conti...

The Case for an Independent Fiscal Institution in Japan

The Case for an Independent Fiscal Institution in Japan »

Source: The Case for an Independent Fiscal Institution in Japan

Volume/Issue: 2016/156

Series: IMF Working Papers

Author(s): George Kopits

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 August 2016

ISBN: 9781475522686

Keywords: Japan’;s fiscal policy; public debt sustainability; independent fiscal institutions.

In response to the recent financial crisis and the ensuing buildup in public indebtedness, an increasing number of advanced economies have created independent fiscal institutions (IFIs) to improve the quality of pu...

Characterizing the Expenditure Uncertainties of Industrial Countries in the 21st Century1

Characterizing the Expenditure Uncertainties of Industrial Countries in the 21st Century1 »

Source: Characterizing the Expenditure Uncertainties of Industrial Countries in the 21st Century

Volume/Issue: 2005/91

Series: IMF Working Papers

Author(s): Peter Heller , and David Hauner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2005

ISBN: 9781451861105

Keywords: fiscal frameworks, expenditure, expenditures, government expenditure, fiscal policy, expenditure categories, National Government Expenditures and Related Policies, National Budget, Deficit, and Debt,

A number of uncertainties about long-term expenditure commitments in industrial countries are examined: (i) the assumptions underlying the projections, (ii) the potential to further reduce non-age-related expenditu...

Criteria of External Sustainability

Criteria of External Sustainability »

Source: Criteria of External Sustainability

Volume/Issue: 1988/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 1988

ISBN: 9781451965209

Keywords: current account, current account balance, current account imbalances, foreign debt, current account imbalance

This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution...

Debt and Growth: Is There a Magic Threshold?1

Debt and Growth: Is There a Magic Threshold?1 »

Source: Debt and Growth : Is There a Magic Threshold?

Volume/Issue: 2014/34

Series: IMF Working Papers

Author(s): Andrea Pescatori , Damiano Sandri , and John Simon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2014

ISBN: 9781484306444

Keywords: growth, gdp growth, debt thresholds, debt ratio, growth rate, General,

Using a novel empirical approach and an extensive dataset developed by the Fiscal Affairs Department of the IMF, we find no evidence of any particular debt threshold above which medium-term growth prospects are dra...

Debt Relief, Additionality, and Aid Allocation in Low Income Countries

Debt Relief, Additionality, and Aid Allocation in Low Income Countries »

Source: Debt Relief, Additionality, and Aid Allocation in Low Income Countries

Volume/Issue: 2003/175

Series: IMF Working Papers

Author(s): Robert Powell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2003

ISBN: 9781451858778

Keywords: low-income countries, HIPCs, additionality, debt, debt reduction, creditors, debt service payments, International Lending and Debt Problems,

This paper models the resource implications of debt relief provided to low-income countries (LICs). Obtaining debt relief does not necessarily lead to individual aid-dependent countries receiving more overall resou...

Debt, Taxes, and Banks

Debt, Taxes, and Banks »

Source: Debt, Taxes, and Banks

Volume/Issue: 2012/48

Series: IMF Working Papers

Author(s): Michael Keen , and Ruud Mooij

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

ISBN: 9781463937096

Keywords: Bank taxation, corporate tax, debt bias, leverage, tax rate, capital requirement, deposit insurance, bank capital, Business Taxes and Subsidies including sales and value-added (VAT),

Understanding the impact of the asymmetric tax treatment of debt and equity on the capital structures of financial institutions is critical to shaping and assessing responses to the problem of excessive leverage th...

The Distributional Effects of Fiscal Consolidation

The Distributional Effects of Fiscal Consolidation »

Source: The Distributional Effects of Fiscal Consolidation

Volume/Issue: 2013/151

Series: IMF Working Papers

Author(s): Laurence Ball , Davide Furceri , Daniel Leigh , and Prakash Loungani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2013

ISBN: 9781475551945

Keywords: distributional effects, fiscal consolidation episodes, fiscal consolidations, fiscal adjustments, public debt, Equity, Justice, Inequality, and Other Normative Criteria and Measurement,

This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation h...

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel »

Source: Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Volume/Issue: 2013/159

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , and Sergio Sola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2013

ISBN: 9781484394502

Keywords: Real time data, Cross-sectional dependence, Heterogeneous panels, public debt, fiscal stance, budget deficits, fiscal variables, General, International Policy Coordination and Transmission, Globalization: Macroeconomic Impacts

This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset...