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Computing Cyclically-Adjusted Balances and Automatic Stabilizers

Computing Cyclically-Adjusted Balances and Automatic Stabilizers »

Source: Computing Cyclically-Adjusted Balances and Automatic Stabilizers

Volume: 2009

Series: Technical Notes and Manuals

Author(s): Annalisa Fedelino , Mark Horton , and Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2009

ISBN: 9781462359622

Keywords: fiscal policy, automatic stabilizers, business cycle fluctuations, cyclical adjustment, interest payments, interest, primary balance, fiscal balance

This technical note focuses on computing cyclically adjusted balances and automatic stabilizers. The note provides guidance on how to decompose overall fiscal balances into cyclical and cyclically adjusted componen...

Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy1

Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy1 »

Source: Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy

Volume/Issue: 2010/197

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455205271

Keywords: Bayesian Analysis, New Keynesian Phillips Curve, Cyclically-Adjusted Balance, Fiscal Stance, Fiscal Impulse, fiscal balance,

This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The pa...

Structural Balance Targeting and Output Gap Uncertainty

Structural Balance Targeting and Output Gap Uncertainty »

Source: Structural Balance Targeting and Output Gap Uncertainty

Volume/Issue: 2014/107

Series: IMF Working Papers

Author(s): Eugen Tereanu , Anita Tuladhar , and Alejandro Simone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2014

ISBN: 9781498305167

Keywords: structural balance, cyclically adjusted balance, budget year, budget preparation, fiscal effort, structural fiscal, General,

Potential output estimation plays a crucial role in conducting fiscal policy based on structural balances. Difficulties in estimating potential output could lead to an erroneous policy stance with a consequent impa...

Boom-Bust Phases in Asset Prices and Fiscal Policy Behavior

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

Source: 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

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...

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates »

Source: A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

Volume: 2010

Series: Technical Notes and Manuals

Author(s): Julio Escolano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2010

ISBN: 9781462396955

Keywords: Public debt dynamics, debt ratio, Government budget constraint, Ponzi game, Cyclically adjusted balance, debt, interest, primary balance, interest payments

This paper presents a practical guide to public debt dynamics, fiscal sustainability, and cyclical adjustment of budgetary aggregates. The paper discusses fiscal formulas, which may be of practical use in fiscal an...

Absorption Boom and Fiscal Stance

Absorption Boom and Fiscal Stance »

Source: 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

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...

When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances

When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances »

Source: When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances

Volume: 11

Series: Technical Notes and Manuals

Author(s): Fabian Bornhorst , Annalisa Fedelino , Jan Gottschalk , and Gabriela Dobrescu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 April 2011

ISBN: 9781475510201

Keywords: Commodity prices, fiscal policy, cyclical adjustment, structural fiscal balance, business cycle fluctuations, asset prices, output composition, output, tax, prices

Technical Notes and Manuals are produced by IMF departments to expand the dissemination of their technical assistance advice. These papers present general advice and guidance, drawn in part from unpublished techni...

The Day After Tomorrow

The Day After Tomorrow »

Source: 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

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...

Computing Cyclically-Adjusted Balances and Automatic Stabilizers

Computing Cyclically-Adjusted Balances and Automatic Stabilizers »

Volume: 09

Series: Technical Notes and Manuals

Author(s): Annalisa Fedelino , Mark Horton , and Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 December 2009

DOI: http://dx.doi.org/10.5089/9781462359622.005

ISBN: 9781462359622

Keywords: fiscal policy, automatic stabilizers, business cycle fluctuations, cyclical adjustment, interest payments, interest, primary balance, fiscal balance

This technical note focuses on computing cyclically adjusted balances and automatic stabilizers. The note provides guidance on how to decompose overall fiscal balances into cyclical and cyclically adjusted componen...

Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy

Estimates of the Output Gap in Armenia with Applications to Monetary and Fiscal Policy »

Volume/Issue: 2010/197

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

DOI: http://dx.doi.org/10.5089/9781455205271.001

ISBN: 9781455205271

Keywords: Bayesian Analysis, New Keynesian Phillips Curve, Cyclically-Adjusted Balance, Fiscal Stance, Fiscal Impulse, fiscal balance,

This paper employs several econometric techniques to estimate the Armenian output gap. The findings indicate that the output gap is significantly positive in 2007 and 2008 and decreased dramatically in 2009. The pa...