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Boom-Bust Phases in Asset Prices and Fiscal Policy Behavior

Boom-Bust Phases in Asset Prices and Fiscal Policy Behavior »

Volume/Issue: 2004/54

Series: IMF Working Papers

Author(s): Ludger Schuknecht , and Albert Jaeger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

DOI: http://dx.doi.org/10.5089/9781451847543.001

ISBN: 9781451847543

Keywords: Boom-bust cycles, cyclical adjustment, deficit bias, fiscal balances, expenditure, fiscal balance, expenditure growth,

Boom and bust phases in asset prices have become a pervasive feature of macroeconomic developments in many advanced economies. This paper studies fiscal policy during boom-bust phases in asset prices and draws seve...

Absorption Boom and Fiscal Stance
			: What Lies Ahead in Eastern Europe?

Absorption Boom and Fiscal Stance : What Lies Ahead in Eastern Europe? »

Volume/Issue: 2010/97

Series: IMF Working Papers

Author(s): Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2010

DOI: http://dx.doi.org/10.5089/9781451982749.001

ISBN: 9781451982749

Keywords: Pro-cyclicality, cyclically-adjusted fiscal balance, expenditure, capital expenditure, social expenditure, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General,

This paper estimates revenue and expenditure pro-cyclicality with respect to output and domestic absorption in new member states of the European Union and Croatia to assess whether these countries used the boom yea...

The Day After Tomorrow
			: Designing an Optimal Fiscal Strategy for Libya

The Day After Tomorrow : Designing an Optimal Fiscal Strategy for Libya »

Volume/Issue: 2013/79

Series: IMF Working Papers

Author(s): Carlos Caceres , Serhan Cevik , Ricardo Fenochietto , and Borja Gracia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2013

DOI: http://dx.doi.org/10.5089/9781484389812.001

ISBN: 9781484389812

Keywords: Fiscal policy, cyclical adjustment, fiscal sustainability, permanent income hypothesis, fiscal rules, natural resources, public financial management, fiscal stance, primary deficit, Structure and Scope of Government

Libya is highly dependent on exhaustible and volatile hydrocarbon resources, which constitute the bulk of government revenues. Although resource wealth provides the means to promote socio-economic development, proc...

Automatic Stabilizers and the Size of Government
			: Correcting a Common Misunderstanding

Automatic Stabilizers and the Size of Government : Correcting a Common Misunderstanding »

Volume/Issue: 2010/155

Series: IMF Working Papers

Author(s): Carlo Cottarelli , and Annalisa Fedelino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

DOI: http://dx.doi.org/10.5089/9781455201389.001

ISBN: 9781455201389

Keywords: cyclical adjustment, expenditure, fiscal balances, budget balance, public spending, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, National Deficit Surplus, National Budget

The size of government is a commonly used variable in many analytical studies on the effects of fiscal policy. An accepted practice is to measure it as the ratio of government spending to GDP. However, this is not...

Flexible Fiscal Rules and Countercyclical Fiscal Policy

Flexible Fiscal Rules and Countercyclical Fiscal Policy »

Volume/Issue: 2016/8

Series: IMF Working Papers

Author(s): Martine Guerguil , Pierre Mandon , and Rene Tapsoba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2016

DOI: http://dx.doi.org/10.5089/9781513581460.001

ISBN: 9781513581460

Keywords: Fiscal Policy Rules, Flexibility, Investment-friendly Rules, Cyclically-adjusted Balance Rules, Propensity Scores-matching, fiscal policy, fiscal rules, public spending, fiscal rule, public investment

This paper assesses the impact of different types of flexible fiscal rules on the procyclicality of fiscal policy with propensity scores-matching techniques, thus mitigating traditional self-selection problems. It...

Policy Coordination in Fiscal Federalism
			: Drawing Lessons From the Dubai Debt Crisis

Policy Coordination in Fiscal Federalism : Drawing Lessons From the Dubai Debt Crisis »

Volume/Issue: 2011/147

Series: IMF Working Papers

Author(s): Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455269457.001

ISBN: 9781455269457

Keywords: cyclically-adjusted budget balance, fiscal federalism, statement of fiscal risks, debt, deficit, budget, public sector, General Outlook and Conditions, Fiscal Policies and Behavior of Economic Agents: General, National Government Expenditures and Related Policies: General

Using the cyclically adjusted non-hydrocarbon primary balance, this paper investigates the evolution of the fiscal policy stance in the United Arab Emirates at consolidated and sub-national levels in the run-up and...