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Political Costs of Tax-Based Consolidations »

Source: Political Costs of Tax-Based Consolidations

Volume/Issue: 2019/298

Series: IMF Working Papers

Author(s): Chuling Chen , Era Dabla-Norris , Jay Rappaport , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2019

ISBN: 9781513521534

Keywords: Base rates, Budget deficits, Business cycles, Capital, Capital income, Capital stocks, Corporate income taxes, Debt, Debt reduction, Debt sustainability

This paper studies the impact of tax-based consolidations on reelection outcomes. Using a granular database of tax-based consolidations for a panel of 10 OECD countries over the last 40 years, we find that tax refo...

Belize: Selected Issues »

Source: Belize : Selected Issues

Volume/Issue: 2019/365

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

ISBN: 9781513522142

Keywords: Tax revenue, Tax competition, Tax reforms, Tax incentives, Tax exemptions, ISCR, CR, special regime, business tax, IBCs

This Selected Issues paper provides an overview of Belize's tourism sector and main achievements and discusses the country's comparative advantages and bottlenecks in tourism. It also analyzes the impact of structu...

Belize: Selected Issues »

Source: Belize : Selected Issues

Volume/Issue: 2019/365

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2019

ISBN: 9781513522142

Keywords: Tax revenue, Tax competition, Tax reforms, Tax incentives, Tax exemptions, ISCR, CR, special regime, business tax, IBCs

This Selected Issues paper provides an overview of Belize's tourism sector and main achievements and discusses the country's comparative advantages and bottlenecks in tourism. It also analyzes the impact of structu...

Colombia »

Source: Colombia : Technical Assistance Report-Reforming Energy Pricing

Volume/Issue: 2019/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 November 2019

Language: Spanish

ISBN: 9781513520650

Keywords: ISCR, CR, fuel product, CREG, reference price, decile, external stakeholders

Energy Subsidy Reform is a key pillar of Colombia's national development plan. Rising fiscal challenges in Colombia-which have been exacerbated by the adjustment costs associated with recent large migration flows f...

Colombia »

Source: Colombia : Technical Assistance Report-Reforming Energy Pricing

Volume/Issue: 2019/344

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 November 2019

ISBN: 9781513520629

Keywords: Producer prices, Oil prices, Social safety nets, Energy prices, Purchasing power, ISCR, CR, fuel product, CREG, reference price

This paper on Colombia focuses on reforming energy pricing. Rising fiscal challenges in Colombia can risk derailing the government from their commitment to meet both its headline deficit target of 2.4 percent in 20...

The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus1 »

Source: The Drivers, Implications and Outlook for China's Shrinking Current Account Surplus

Volume/Issue: 2019/244

Series: IMF Working Papers

Author(s): Pragyan Deb , Albe Gjonbalaj , and Swarnali Hannan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2019

ISBN: 9781513516097

Keywords: Accounting, Aging, Assets, Balance of trade, Bank deposits, Bilateral trade, Bonds, Capital, Capital account, Capital flows

China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was in line with medium-term fundamentals and desirable policies. While cyclical factors and expans...

Tariff Passthrough at the Border∗ »

Source: Tariff Passthrough at the Border

Volume/Issue: 2019/238

Series: IMF Working Papers

Author(s): Gita Gopinath , Alberto Calvallo , Brent Neiman , and Jenny Tang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2019

ISBN: 9781513518381

Keywords: Price indexes, Import tariffs, Import price indexes, Producer prices, Export price indexes, trade policy, tariffs, exchange rate passthrough., WP, passthrough

We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers,...

Lebanon »

Source: Lebanon : Selected Issues

Volume/Issue: 2019/313

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Middle East and Central Asia Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2019

ISBN: 9781513517070

Keywords: Energy sector, Tariff structures, Capital expenditure, Energy policy, Purchasing power, ISCR, CR, private generator, electricity sector, non-technical

This Selected Issues on Lebanon studies the inefficiencies related to the electricity sector and assesses the potential impact of the 2019 reform plan. The paper also focuses on its impact on business competitivene...

The Macroeconomic Effects of Labor and Product Market Reforms in Morocco »

Source: The Macroeconomic Effects of Labor and Product Market Reforms in Morocco

Volume/Issue: 2019/222

Series: IMF Working Papers

Author(s): Babacar Sarr , Mokhtar Benlamine , and Zsuzsa Munkacsi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2019

ISBN: 9781513513768

Keywords: Access to foreign markets, Bankruptcy, Banks, Basket of currency peg, Capital, Capital accumulation, Capital flows, Capital formation, Commodity markets, Commodity prices

This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp)...

How to Design Tax Policy in Fragile States »

Source: How to Design Tax Policy in Fragile States

Volume: 19

Series: IMF How To Notes

Author(s): Mario Mansour , and Jean-Luc Schneider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2019

ISBN: 9781513508153

Keywords: Tax policy, Revenue mobilization, Efficiency of public spending, Equity and social spending, Tax revenue, Tax evasion, Tax reforms, Tax systems, Equity and social spending, FADHTN

The purpose of this note is to provide a framework for improving tax policy design in fragile and conflict-affected states, which face political and institutional constraints. This note begins with an overview of e...

Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model1 »

Source: Trade Wars and Trade Deals: Estimated Effects using a Multi-Sector Model

Volume/Issue: 2019/143

Series: IMF Working Papers

Author(s): Carlos Caceres , Diego Cerdeiro , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2019

ISBN: 9781498318440

Keywords: Export restraints, Balance of trade, Patterns of trade, Trade models, International trade agreements, general equilibrium, trade, tariffs, trade tensions, global value chains.

This paper studies the potential long-term effects of three illustrative scenarios using a multi-sector computable general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates eff...

The Price of Capital Goods: A Driver of Investment Under Threat »

Source: The Price of Capital Goods: A Driver of Investment Under Threat

Volume/Issue: 2019/134

Series: IMF Working Papers

Author(s): Weicheng Lian , Natalija Novta , Evgenia Pugacheva , Yannick Timmer , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

ISBN: 9781498317429

Keywords: Real interest rates, Producer prices, Economic integration, Capital goods, Low-income developing countries, Relative price of investment goods, trade integration, trade barriers, capital deepening, global value chain

Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in advanced and emerging market and developing economies. Using cross-country and sectoral data, we show...

Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey1 »

Source: Real Effective Exchange Rate and Trade Balance Adjustment: The Case of Turkey

Volume/Issue: 2019/131

Series: IMF Working Papers

Author(s): Plamen Iossifov , and Xuan Fei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2019

ISBN: 9781498312738

Keywords: Real effective exchange rates, Balance of trade, Trade deficits, Current account, Patterns of trade, Real trade balance adjustment, REER, long-run, trade balance, elasticity

There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the wake of the global financial crisis. The question has...

Czech Republic »

Source: Czech Republic : Selected Issues

Volume/Issue: 2019/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2019

ISBN: 9781498319423

Keywords: External shocks, Patterns of trade, Demand elasticity, Price indexes, Import tariffs, gross export, value-added, linkage, Czech economy, low demand

Selected Issues...

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model »

Source: The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

Volume/Issue: 2019/124

Series: IMF Working Papers

Author(s): Lisandro Abrego , Maria Alejandra Amado , Tunc Gursoy , Garth Nicholls , and Hector Perez-Saiz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2019

ISBN: 9781498314398

Keywords: Economic integration, Open economies, International trade agreements, Trade finance, Comparative advantage, AfCFTA, welfare, general equilibrium, trade barriers, welfare gain

In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and s...

Revenue Administration »

Source: Revenue Administration : Short-Term Measures to Increase Customs Revenue in Low-Income and Fragile Countries

Volume: 2019

Series: Technical Notes and Manuals

Author(s): Gilles Montagnat-Rentier

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2019

ISBN: 9781498305617

Keywords: Financial statistics, Tax revenue, Customs duties, Capital goods, Import tariffs, custom administration, transaction value, custom authority, custom procedure, valuation method

This note discusses administrative measures that can be implemented by customs administrations of low-income and fragile countries in a short period (about a year) to improve traders' compliance and improve revenue...

NAFTA to USMCA: What is Gained?1 »

Source: NAFTA to USMCA: What is Gained?

Volume/Issue: 2019/73

Series: IMF Working Papers

Author(s): Mary Burfisher , Frederic Lambert , and Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 March 2019

ISBN: 9781498303286

Keywords: Economic integration, Trade policy, Patterns of trade, Merchandise trade, Bilateral trade, NAFTA, USMCA, LVC, RVC, U.S. tariff

The United States - Mexico - Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, compu...

St. Lucia »

Source: St. Lucia : Technical Assistance Report-Report on Supply and Use Tables Mission

Volume/Issue: 2019/14

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2019

ISBN: 9781484394205

Keywords: Technical assistance missions, Real sector statistics, Special Data Dissemination Standard, Technical Assistance Reports, National accounts aggregates, Price indexes, Import tariffs, Statistics, Consumption, SUT

A technical assistance (TA) mission was undertaken by the Real Sector Statistics Advisor in the Caribbean Regional Technical Assistance Centre (CARTAC) to St. Lucia during September 17-28, 2018, to provide advice t...

Gulf Cooperation Council »

Source: Gulf Cooperation Council : Trade and Foreign Investment-Keys to Diversification and Growth in the GCC

Volume/Issue: 2018/058

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 December 2018

ISBN: 9781498310307

Keywords: Economic integration, Investment policy, Economic growth, Global competitiveness, Comparative advantage, GCC country, non-oil, FDI, FDI inflow, GCC

"Diversification of the GCC economies, supported by greater openness to trade and higher foreign investment, can have a large impact on growth. Such measures can support higher, sustained, and more inclusive growth...

Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice »

Source: Statement by the Managing Director on the Independent Evaluation Office Report on IMF Exchange Rate Policy Advice : Revisiting the 2007 IEO Evaluation

Volume/Issue: 2017/057

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 October 2017

ISBN: 9781498346290

Keywords: Exchange rate policy, External sector assessment, Exchange rate assessments, External sector, Exchange rates, IEO, ESR, IMF, continued attention, main find

I would like to thank the Independent Evaluation Office (IEO) for preparing this informative and timely report, which provides an update on the IMF's progress in its approach to exchange rate policy advice since 20...

IMF Executive Board Reviews the Role of Trade in the Fund’s Work »

Source: Review of the Role of Trade in the Work of the Fund

Volume/Issue: 2015/011

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

ISBN: 9781498344876

Keywords: Bilateral surveillance, Developed countries, Emerging markets, Fund role, International trade, Low-income developing countries, Multilateral surveillance, Trade integration, Trade liberalization, Trade policy

This review follows the Board-endorsed recommendation by the IEO in 2009 to have an assessment of the Fund's work on trade every five years. In addition to reviewing past work, this paper discusses key issues going...

Review of the Role of Trade in the Work of the Fund »

Source: Review of the Role of Trade in the Work of the Fund

Volume/Issue: 2015/011

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

ISBN: 9781498344876

Keywords: Bilateral surveillance, Developed countries, Emerging markets, Fund role, International trade, Low-income developing countries, Multilateral surveillance, Trade integration, Trade liberalization, Trade policy

This review follows the Board-endorsed recommendation by the IEO in 2009 to have an assessment of the Fund's work on trade every five years. In addition to reviewing past work, this paper discusses key issues going...

Food Prices and the Multiplier Effect of Trade Policy* »

Source: Food Prices and the Multiplier Effect of Trade Policy

Volume/Issue: 2014/182

Series: IMF Working Papers

Author(s): Paolo Giordani , Nadia Rocha , and Michele Ruta

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 2014

ISBN: 9781498320382

Keywords: Loss aversion, Multiplier effect, Food crisis, domestic price, world price, global trade, import tariff, import subsidy, International Relations and International Political Economy: Other, Global Commodity Crises

This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks...

Soaring of the Gulf Falcons »

Source: Soaring of the Gulf Falcons : Diversification in the GCC Oil Exporters in Seven Propositions

Volume/Issue: 2014/177

Series: IMF Working Papers

Author(s): Reda Cherif , and Fuad Hasanov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 September 2014

ISBN: 9781498310642

Keywords: oil countries, growth, oil, exporters, oil exporters, oil exports, Exhaustible Resources and Economic Development,

A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We...

After the Boom–Commodity Prices and Economic Growth in Latin America and the Caribbean »

Source: After the Boom-Commodity Prices and Economic Growth in Latin America and the Caribbean

Volume/Issue: 2014/154

Series: IMF Working Papers

Author(s): Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 August 2014

ISBN: 9781498363518

Keywords: Global VAR (GVAR), commodity prices, output growth, Latin America, commodity exporters, exporters, commodity exports, Time-Series Models, Open Economy Macroeconomics, Economic Growth of Open Economies

After skyrocketing over the past decade, commodity prices have remained stable or eased somewhat since mid-2011-and most projections suggest they are not likely to resume the upward trend observed in the last decad...

How Solid Is Economic Growth in the East African Community? »

Source: How Solid Is Economic Growth in the East African Community?

Volume/Issue: 2014/150

Series: IMF Working Papers

Author(s): Nikoloz Gigineishvili , Paolo Mauro , and Ke Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 August 2014

ISBN: 9781498374941

Keywords: Structural transformation, total exports, export products, growth rate, growth rates, Macroeconomic Analyses of Economic Development,

Is rapid economic growth experienced by the East African Community during the past decade built on solid foundations? To gain some clues, we use a variety of newly-collected and existing data sources to analyze the...

2014 Triennial Surveillance Review - External Study - Risks and Spillovers »

Source: 2014 Triennial Surveillance Review - External Study - Risks and Spillovers

Volume/Issue: 2014/048

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 July 2014

ISBN: 9781498342926

Keywords: Bilateral surveillance, Financial risk, Macroprudential Policy, Monetary policy, Multilateral surveillance, Spillovers, Surveillance, Asset prices, Assets, Balance sheets

...

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments1 »

Source: Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments

Volume/Issue: 2014/130

Series: IMF Working Papers

Author(s): Thierry Tressel , and Shengzu Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2014

ISBN: 9781498334426

Keywords: Rebalancing, Imbalances, Euro Area, export performance, export growth, reer, debtor countries, General, Country and Industry Studies of Trade, Comparative Analysis of Economic Systems

The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shed...

European Productivity, Innovation and Competitiveness »

Source: European Productivity, Innovation and Competitiveness : The Case of Italy

Volume/Issue: 2014/79

Series: IMF Working Papers

Author(s): Andrew Tiffin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

ISBN: 9781484379868

Keywords: competitiveness, shift share analysis, CMSA, export growth, export performance, exporters, exporter, Country and Industry Studies of Trade, Open Economy Macroeconomics, General

In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper offers a more comprehensive assessment of Italian competitiveness, focusing on the role of innovatio...

Export Spillovers from Global Shocks for the Middle East and Central Asia »

Source: Export Spillovers from Global Shocks for the Middle East and Central Asia

Volume/Issue: 2014/80

Series: IMF Working Papers

Author(s): Alberto Behar , and Jaime Espinosa-Bowen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2014

ISBN: 9781484380796

Keywords: Gravity model, Caucasus, oil exports, oil exporters, exporters, services exports, exporter, Trade Forecasting and Simulation, International Business Cycles,

This paper quantifies the effect of realized and potential global growth disappointments on export volumes from the Middle East, North Africa, the Caucasus, and Central Asia. Estimates of export elasticities with r...

Baltic Cluster Report: Staff Report for the 2014 Cluster Consultation »

Source: Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...

IMF Executive Board Discusses Baltic Cluster Report on the Republics of Estonia, Latvia, and Lithuania »

Source: Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...

Statement by Mr. Audun Groenn, Executive Director for the Baltic Countries, May 2, 2014 »

Source: Baltic Cluster Report : Staff Report for the 2014 Cluster Consultation

Volume/Issue: 2014/116

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2014

ISBN: 9781484377741

Keywords: structural unemployment, employment, export performance, labor market

This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries-Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses polic...