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Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle

Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle »

Source: Fiscal Policy in Oil Producing Countries During the Recent Oil Price Cycle

Volume/Issue: 2010/28

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962536

Keywords: fiscal impulses, Structure, Scope, and Performance of Government, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General, National Deficit Surplus,

This paper presents a detailed analysis of the average fiscal policy responses of oil producing countries (OPCs) to the recent oil price cycle. We find that OPCs worsened their non-oil primary balances substantiall...

Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies

Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies »

Source: Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies

Volume/Issue: 2011/173

Series: IMF Working Papers

Author(s): Xavier Debrun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

ISBN: 9781462313327

Keywords: Fiscal councils, deficit bias, delegation, central bank, fiscal institutions, fiscal agencies, Structure, Scope, and Performance of Government, National Deficit Surplus,

Despite growing interest among policymakers, there is no theory of independent fiscal institutions. The emerging literature on "fiscal councils" typically makes informal parallels with the theory of central bank in...

Fiscal Rules in Response to the Crisis

Fiscal Rules in Response to the Crisis »

Source: Fiscal Rules in Response to the Crisis : Toward the "Next-Generation" Rules: A New Dataset

Volume/Issue: 2012/187

Series: IMF Working Papers

Author(s): Nina Budina , Andrea Schaechter , Anke Weber , and Tidiane Kinda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505351

Keywords: fiscal governance, budget balance, national fiscal rules, fiscal rule, Structure, Scope, and Performance of Government, National Deficit Surplus,

Strengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - co...

Decentralizing Spending More Than Revenue

Decentralizing Spending More Than Revenue »

Source: Decentralizing Spending More Than Revenue : Does it Hurt Fiscal Performance?

Volume/Issue: 2011/226

Series: IMF Working Papers

Author(s): Luc Eyraud , and Lusine Lusinyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463904944

Keywords: fiscal federalism, vertical gap, local governments, decentralization, fiscal performance, sub-national governments, vertical fiscal imbalance, fiscal imbalance, Structure, Scope

In many countries the decentralization of spending responsibilities has outpaced the decentralization of revenue powers. Sub-national governments have then to rely on transfers from the center and borrowing to fina...

Narrowing Vertical Fiscal Imbalances in Four European Countries

Narrowing Vertical Fiscal Imbalances in Four European Countries »

Source: Narrowing Vertical Fiscal Imbalances in Four European Countries

Volume/Issue: 2012/91

Series: IMF Working Papers

Author(s): Izabela Karpowicz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502664

Keywords: Federalism, decentralization, vertical fiscal imbalance, local governments, fiscal decentralization, sub-national governments, fiscal balances, Structure, Scope, and Performance of Government

This paper describes the institutional changes that have induced a decline in the vertical fiscal imbalance (VFI) - defined as the share of sub-national own spending not financed through own revenues - in four Euro...

How Do Canadian Budget Forecasts Compare with Those of Other Industrial Countries?

How Do Canadian Budget Forecasts Compare with Those of Other Industrial Countries? »

Source: How Do Canadian Budget Forecasts Compare with Those of Other Industrial Countries?

Volume/Issue: 2005/66

Series: IMF Working Papers

Author(s): Martin Mühleisen , Kornelia Krajnyak , Stephan Danninger , David Hauner , and Bennett Sutton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860856

Keywords: Budget Forecasting, Macroeconomic Projections, tax revenue, government expenditure, fiscal forecasts, fiscal forecasting, budget process, Forecasting and Other Model Applications, Structure, Scope

This paper compares Canadian central government budget forecasting with forecasting by other industrial countries. While fiscal forecasting in Canada is governed by one of the strongest institutional frameworks, qu...

Fiscal Expectations Under the Stability and Growth Pact

Fiscal Expectations Under the Stability and Growth Pact »

Source: Fiscal Expectations Under the Stability and Growth Pact : Evidence from Survey Data

Volume/Issue: 2011/48

Series: IMF Working Papers

Author(s): Marcos Poplawski-Ribeiro , and Jan-Christoph Rülke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455218943

Keywords: credibility, Stability and Growth Pact, survey data, budget deficit, survey, fiscal authorities, fiscal forecasts, equation, Structure, Scope

The paper uses survey data to analyze whether financial market expectations on government budget deficits changed in France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact...

Implications of Quasi-Fiscal Activities in Ghana

Implications of Quasi-Fiscal Activities in Ghana »

Source: Implications of Quasi-Fiscal Activities in Ghana

Volume/Issue: 2006/24

Series: IMF Working Papers

Author(s): Mali Chivakul , and Robert York

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862843

Keywords: quasi-fiscal activities, central bank, fiscal activities, fiscal operations, public debt, Structure, Scope, and Performance of Government, National Budget, Deficit

This paper assesses the scope and coverage of quasi-fiscal activities (QFAs) in Ghana. We find that while QFAs have been reduced recently, they remain significant. The extensive nature of these activities has sever...

New Evidence on Fiscal Adjustment and Growth in Transition Economies

New Evidence on Fiscal Adjustment and Growth in Transition Economies »

Source: New Evidence on Fiscal Adjustment and Growth in Transition Economies

Volume/Issue: 2006/244

Series: IMF Working Papers

Author(s): Sanjeev Gupta , Alejandro Simone , and Alex Segura-Ubiergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451865042

Keywords: growth, fiscal balance, transition countries, Multiple or Simultaneous Equation Models: Models with Panel Data, Structure, Scope, and Performance of Government, National Budget, Deficit, and Debt: General,

This paper analyzes the relationship between fiscal adjustment and real GDP growth in a panel of 26 transition economies during 1992-2001. Unlike most previous studies using cross-country regressions, the paper fin...

Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union

Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union »

Source: Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union

Volume/Issue: 2002/60

Series: IMF Working Papers

Author(s): Aleh Tsyvinski , Martin Petri , and Günther Taube

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451848069

Keywords: transition countries, quasi-fiscal activities, implicit subsidies, implicit taxation, payment arrears, gas, fiscal activities, coal, fiscal deficit, Structure

A decade into the transition, many of the successor states of the former Soviet Union (FSU) continue to use energy sector quasi-fiscal activities (QFAs), especially low energy prices and the toleration of payment a...