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Fiscal Deficits and Inflation

Fiscal Deficits and Inflation »

Source: Fiscal Deficits and Inflation : A New Look at the Emerging Market Evidence

Volume/Issue: 2001/74

Series: IMF Working Papers

Author(s): Marco Terrones , and Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451849592

Keywords: inflation tax, monetary fund, inflation rates, inflation rate, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

Empirical studies have had little success in finding a statistically significant relationship between fiscal deficits and inflation in broad cross-country panels. This paper provides new econometric estimates for a...

Deficit Limits, Budget Rules, and Fiscal Policy

Deficit Limits, Budget Rules, and Fiscal Policy »

Source: Deficit Limits, Budget Rules, and Fiscal Policy

Volume/Issue: 2005/120

Series: IMF Working Papers

Author(s): Paolo Manasse

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2005

ISBN: 9781451861396

Keywords: deficit limits, growth and stability pact, probability, equation, excessive deficits, fiscal frameworks, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, groth and stability pact,

The paper presents a simple model for discussing the effects of deficit limits and budget rules on fiscal policy. I find that limits on deficit-output ratios provide incentives to implement procyclical policies whe...

Real Wage, Labor Productivity, and Employment Trends in South Africa

Real Wage, Labor Productivity, and Employment Trends in South Africa »

Source: Real Wage, Labor Productivity, and Employment Trends in South Africa : A Closer Look

Volume/Issue: 2012/92

Series: IMF Working Papers

Author(s): Nir Klein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2012

ISBN: 9781475502824

Keywords: Real wage, wage, informal employment, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Wages, Compensation, and Labor Costs: General,

The paper looks at the dynamics of employment in South Africa and examines the factors that contributed to the job-shedding observed during the recent financial crisis. The paper finds that the rapid growth of the...

External Debt and Economic Reform

External Debt and Economic Reform »

Source: External Debt and Economic Reform : Does a Pain Reliever Delay the Necessary Treatment?

Volume/Issue: 2007/50

Series: IMF Working Papers

Author(s): Athanasios Vamvakidis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

ISBN: 9781451866148

Keywords: economic reform, external borrowing, foreign aid, external financing, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics, Macroeconomic Analyses of Economic Development,

Recent literature argues that conflict in shifting adjustment costs between different socioeconomic groups delays necessary reforms and finds that such reforms often follow economic crises. This paper expands these...

Financial Sector Projections and Stress Testing in Financial Programming

Financial Sector Projections and Stress Testing in Financial Programming »

Source: Financial Sector Projections and Stress Testing in Financial Programming : A New Framework

Volume/Issue: 2006/33

Series: IMF Working Papers

Author(s): Antonio Garcia Pascual , Nada Choueiri , and Ritu Basu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2006

ISBN: 9781451862935

Keywords: Financial Programming, central bank, banking, banking sector, monetary sector, eurobonds, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Financial Institutions and Services: General,

This paper proposes a framework to check for consistency between the IMF's standard country surveillance tool, namely medium-term projections of the macroeconomic framework (including the real, fiscal, external, an...

Different Strokes? Common and Uncommon Responses to Financial Crises

Different Strokes? Common and Uncommon Responses to Financial Crises »

Source: Different Strokes? Common and Uncommon Responses to Financial Crises

Volume/Issue: 2001/12

Series: IMF Working Papers

Author(s): James Boughton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2001

ISBN: 9781451842906

Keywords: financial crises, macroeconomic models, capital outflow, capital inflows, asian crisis, capital flows, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, International Monetary Arrangements and Institutions,

Much of the debate about the management of financial crises has focused on structural and psychological issues regarding the conditions that are supposed to be necessary to restore investor confidence. Nonetheless,...

Euro Area Export Performance and Competitiveness

Euro Area Export Performance and Competitiveness »

Source: Euro Area Export Performance and Competitiveness

Volume/Issue: 2011/140

Series: IMF Working Papers

Author(s): Jarkko Turunen , Richard Harmsen , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455265459

Keywords: Competitiveness, Trade equations, euro, export, reer, exchange rates, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Country and Industry Studies of Trade,

Concerns about export growth within the euro area peripheral countries due to a lack of competitiveness within the euro area are a key policy issue. Our analysis suggests that: (i) Long-term price elasticities for...

Macro Effects of Corporate Restructuring in Japan

Macro Effects of Corporate Restructuring in Japan »

Source: Macro Effects of Corporate Restructuring in Japan

Volume/Issue: 2003/203

Series: IMF Working Papers

Author(s): Se-Jik Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2003

ISBN: 9781451874471

Keywords: Corporate restructuring, macro effects, aggregate demand, labor income, capital income, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General,

This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor produ...

Do Fixed Exchange Rates Induce More Fiscal Discipline?

Do Fixed Exchange Rates Induce More Fiscal Discipline? »

Source: Do Fixed Exchange Rates Induce More Fiscal Discipline?

Volume/Issue: 2003/78

Series: IMF Working Papers

Author(s): Yan Sun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451850123

Keywords: Fiscal Discipline, exchange rate, fiscal authorities, exchange rate regime, fiscal authority, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Open Economy Macroeconomics,

Conventional wisdom has held that a fixed exchange rate regime induces more fiscal discipline, but Tornell and Velasco (1995, 1998) argue the opposite. Using a dynamic model with fragmented fiscal policymaking, thi...

Toward a Framework for Safeguarding Financial Stability

Toward a Framework for Safeguarding Financial Stability »

Source: Toward a Framework for Safeguarding Financial Stability

Volume/Issue: 2004/101

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451852547

Keywords: Policy framework, financial system, financial institutions, financial sector, financial markets, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, Financial Economics: General,

This paper examines the emergence of financial stability as a key policy objective. It discusses the underlying trends in the financial system, as well as the role of finance in relation to money, the real economy,...