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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)...

Chapter 5: Economic Recovery and Growth

Chapter 5: Economic Recovery and Growth »

Source: Fiscal Adjustment in IMF-Supported Programs

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2003

ISBN: 9781589062740

Keywords: fiscal adjustment, expenditure, expenditures, fiscal policy, public expenditure

The pace of economic recovery under an IMF-supported program is an important determinant of the impact of a program on welfare and is, therefore, the focus of considerable attention. To the exte...

Chapter 3: Fiscal Adjustment as Presented in Program Documents and the Internal Review Process

Chapter 3: Fiscal Adjustment as Presented in Program Documents and the Internal Review Process »

Source: Fiscal Adjustment in IMF-Supported Programs

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2003

ISBN: 9781589062740

Keywords: fiscal adjustment, expenditure, expenditures, fiscal policy, public expenditure

In this chapter, we turn to program documents submitted to the Board to consider what light they shed on the rationale for and magnitude of the fiscal adjustment proposed in programs. We then ex...

Chapter 4: Fiscal Performance Compared with Targets

Chapter 4: Fiscal Performance Compared with Targets »

Source: Fiscal Adjustment in IMF-Supported Programs

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2003

ISBN: 9781589062740

Keywords: fiscal adjustment, expenditure, expenditures, fiscal policy, public expenditure

In this chapter we compare actual fiscal performance against targets projected in programs. We first examine the large cross section of programs to assess the frequency and nature of fiscal shor...

Chapter 7: Fiscal Reforms in IMF-Supported Programs

Chapter 7: Fiscal Reforms in IMF-Supported Programs »

Source: Fiscal Adjustment in IMF-Supported Programs

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2003

ISBN: 9781589062740

Keywords: fiscal adjustment, expenditure, expenditures, fiscal policy, public expenditure

Fiscal adjustment in IMF-supported programs typically includes an agenda of fiscal reforms, and in this chapter we focus on the experience with such reforms on the basis of the sample of 15 prog...

Chapter 2: Fiscal Targeting in IMF-Supported Programs: Cross-Country Analysis

Chapter 2: Fiscal Targeting in IMF-Supported Programs: Cross-Country Analysis »

Source: Fiscal Adjustment in IMF-Supported Programs

Series: Independent Evaluation Office Reports

Author(s): International Monetary Fund. Independent Evaluation Office

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2003

ISBN: 9781589062740

Keywords: fiscal adjustment, expenditure, expenditures, fiscal policy, public expenditure

Acommon criticism of fiscal adjustment in an IMF-supported program is that it is derived from a “one-size-fits-all” approach, which places too much emphasis on fiscal adjustment (i.e., a reducti...