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			: Commodity Price Volatility and Inclusive Growth in Low-Income Countries

Excerpt : Commodity Price Volatility and Inclusive Growth in Low-Income Countries »

Series: Miscellaneous Publication (Other)

Author(s): Min Zhu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2012

DOI: http://dx.doi.org/10.5089/CPVIEAEX.073

ISBN: CPVIEAEX

Keywords: Agricultural sector, Balance of trade, Central banking, Central banks, Civil society, Commodities, Commodity price shocks, Commodity prices, Consumption, Credit

In the years following the global financial crisis, many low-income countries experienced rapid recovery and strong economic growth. However, many are now facing enormous difficulties because of rapidly rising food...

Fiscal Federalism in Europe

Fiscal Federalism in Europe »

Source: Fiscal Federalism in Europe : Is it a Necessary Precondition for a Successful European Economic and Monetary Integration?

Volume/Issue: 1994/74

Series: IMF Working Papers

Author(s): Norbert Berthold

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451849523

Keywords: monetary union, fiscal stabilization policies, fiscal federalism, fiscal stabilization

An important question in the process of European integration concerns the best institutional level for stabilization policies. The theory of fiscal federalism gives criteria for evaluating if fiscal stabilization p...

Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt

Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt »

Source: Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt

Volume/Issue: 2008/164

Series: IMF Working Papers

Author(s): Sven Jari Stehn , and David Vines

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2008

ISBN: 9781451870220

Keywords: Monetary and Fiscal Policy, Policy Myopia, Non-cooperative games, Stabilisation Bias, inflation, central bank, monetary policy, aggregate demand, high interest rates,

We analyse optimal discretionary games between a benevolent central bank and a myopic government in a New Keynesian model. First, when lump-sum taxes are available and public debt is absent, we show that a Nash gam...

Fiscal Policy and Macroeconomic Stability

Fiscal Policy and Macroeconomic Stability »

Source: Fiscal Policy and Macroeconomic Stability : Automatic Stabilizers Work, Always and Everywhere

Volume/Issue: 2010/111

Series: IMF Working Papers

Author(s): Xavier Debrun , and Radhicka Kapoor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200702

Keywords: Output stability, expenditure, discretionary fiscal policy, fiscal stabilization, cyclical fiscal policy,

The paper revisits the link between fiscal policy and macroeconomic stability. Two salient features of our analysis are (1) a systematic test for the government's ambivalent role as a shock absorber and a shock ind...

From Volatility to Stability in Expenditure: Stabilization Funds in Resource-Rich Countries

From Volatility to Stability in Expenditure: Stabilization Funds in Resource-Rich Countries »

Source: From Volatility to Stability in Expenditure : Stabilization Funds in Resource-Rich Countries

Volume/Issue: 2014/43

Series: IMF Working Papers

Author(s): Naotaka Sugawara

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 March 2014

ISBN: 9781475515275

Keywords: stabilization fund, fiscal volatility, government expenditure, institution, stabilization, expenditure, public spending, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, General, Government Policy,

This paper examines the effect of stabilization funds on the volatility of government expenditure in resource-rich countries. Using a panel data set of 68 resource-rich countries over 1988-2012, the results find th...

Government Size and Output Volatility

Government Size and Output Volatility »

Source: Government Size and Output Volatility : Should We Forsake Automatic Stabilization?

Volume/Issue: 2008/122

Series: IMF Working Papers

Author(s): Jean Pisani-Ferry , Xavier Debrun , and André Sapir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

ISBN: 9781451869828

Keywords: Output volatility, government size, fiscal stabilization, government expenditure, government spending, fiscal policy,

The paper takes stock of the debate on the positive link between output volatility and the size of government-which reflects automatic stabilizers. After a survey of the literature, we show that the contribution of...

Fiscal Adjustment for Stability and Growth

Fiscal Adjustment for Stability and Growth »

Source: Fiscal Adjustment for Stability and Growth

Volume/Issue: 2006/001

Series: Policy Papers

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

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2006

ISBN: 9781498333016

Keywords: Economic growth, Economic stabilization, Fiscal policy, Fiscal transparency, Government expenditures, Revenues

This paper aims to inform policymakers, and other interested parties, about the IMF's approach to fiscal adjustment. The approach focuses on the role of sound and sustainable government finances in promoting macroe...

That Squeezing Feeling

That Squeezing Feeling »

Source: That Squeezing Feeling : The Interest Burden and Public Debt Stabilization

Volume/Issue: 2013/125

Series: IMF Working Papers

Author(s): Xavier Debrun , and Tidiane Kinda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2013

ISBN: 9781484321737

Keywords: interest payments, fiscal reaction, fiscal policy, fiscal reaction function, government revenue, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, Deficit,

The paper explores the extent to which the pressure of debt service on other spending items may push governments to embark on fiscal consolidation beyond what is strictly necessary to secure solvency. The empirical...

Anchor Me: The Benefits and Challenges of Fiscal Responsibility

Anchor Me: The Benefits and Challenges of Fiscal Responsibility »

Source: Anchor Me: The Benefits and Challenges of Fiscal Responsibility

Volume/Issue: 2019/70

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2019

ISBN: 9781498302937

Keywords: Economic stabilization, Fiscal policy, National budgets, Budgetary policy, Fiscal stimulus, procyclicality, structural budget balances, fiscal rules, output gap, countercyclical

This paper discusses the benefits and challenges of implementing a rule-based fiscal responsibility framework, using the Philippines as a case study. It estimates structural measures of the fiscal stance over the p...

Accrual Budgeting and Fiscal Policy

Accrual Budgeting and Fiscal Policy »

Source: Accrual Budgeting and Fiscal Policy

Volume/Issue: 2009/84

Series: IMF Working Papers

Author(s): Marc Robinson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872316

Keywords: fiscal stabilization policy, net worth, control totals, net lending, aggregate expenditure, expenditure, capital expenditure,

Can an accrual budgeting system-a system in which budgetary spending authorizations to line ministries are formulated in accrual terms-serve the needs of good fiscal policy? If so, how must such a system be designe...