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Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

Optimal Monetary and Fiscal Policy with Limited Asset Market Participation »

Source: Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

Volume/Issue: 2009/137

Series: IMF Working Papers

Author(s): Sven Jari Stehn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

ISBN: 9781451872842

Keywords: rule-of-thumb consumers, government expenditure, optimal monetary policy, optimal fiscal policy., expenditure, government spending, public spending, Rule Of Thumb Consumers, Optimal Fiscal Policy,

This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each peri...

Money Isn't Everything

Money Isn't Everything »

Source: Money Isn't Everything : The Challenge of Scaling Up Aid to Achieve the Millennium Development Goals in Ethiopia

Volume/Issue: 2006/192

Series: IMF Working Papers

Author(s): Todd Mattina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451864526

Keywords: Dutch disease, aid scaling up, per, public spending, expenditure, fiscal framework, public expenditure, Fiscal and Monetary Policy in Development, Dutch Desease, And Finance,

This paper outlines the challenge of developing an operational macroeconomic framework in Ethiopia consistent with the large envisaged scaling up of aid to achieve the Millennium Development Goals (MDGs). This pape...

Investing in Public Investment

Investing in Public Investment »

Source: Investing in Public Investment : An Index of Public Investment Efficiency

Volume/Issue: 2011/37

Series: IMF Working Papers

Author(s): Zac Mills , Annette Kyobe , Jim Brumby , Chris Papageorgiou , and Era Dabla-Norris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

ISBN: 9781455217892

Keywords: public investment management, project appraisal, selection, implementation, and evaluation, growth, investment management, budget institutions, investment projects, investment spending

This paper introduces a new index that captures the institutional environment underpinning public investment management across four different stages: project appraisal, selection, implementation, and evaluation. Co...

Making Fiscal Space Happen

Making Fiscal Space Happen »

Source: Making Fiscal Space Happen : Managing Fiscal Policy in a World of Scaled-Up Aid

Volume/Issue: 2006/270

Series: IMF Working Papers

Author(s): Xavier Debrun , Peter Heller , Theo Thomas , Menachem Katz , Isabell Adenauer , and Taline Koranchelian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

ISBN: 9781451865301

Keywords: low-income countries, macroeconomic policy, expenditure, mtef, expenditure programs, mtff, Macroeconomic Analyses of Economic Development, Fiscal and Monetary Policy in Development, Fiscal Policies and Behavior of Economic Agents: Other, Low Income Developing Countries,

Debt relief and the scaling up of aid to low-income countries should allow for greater fiscal space for expenditure programs to create long-term growth and lower poverty rates. But designing a suitable medium-term...

Budget Support Versus Project Aid

Budget Support Versus Project Aid »

Source: Budget Support Versus Project Aid

Volume/Issue: 2003/88

Series: IMF Working Papers

Author(s): Tito Cordella , and Giovanni Dell'Ariccia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451851182

Keywords: aid policy, asymmetric information, empirical growth models, budget support, budget surplus, capital expenditures, budget constraint, capital expenditure, Asymmetric and Private Information, Welfare and Poverty: General

Should donors who are interested in the effectiveness of developmental programs rely on conditional budget support or on project aid? To answer this question, we present a model in which only a subset of the develo...

Systemic Weaknesses of Budget Management in Anglophone Africa

Systemic Weaknesses of Budget Management in Anglophone Africa »

Source: Systemic Weaknesses of Budget Management in Anglophone Africa

Volume/Issue: 2001/211

Series: IMF Working Papers

Author(s): Ian Lienert , and Feridoun Sarraf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2001

ISBN: 9781451874846

Keywords: systemic, British, budget institutions, government expenditure, audit, expenditure, expenditures, budget management, Structure, Scope

This paper examines the merits of the British budget management system that was inherited in Anglophone African countries and which has changed substantially in the United Kingdom since the 1960s. It considers whet...

A Comparison Between Two Public Expenditure Management Systems in Africa

A Comparison Between Two Public Expenditure Management Systems in Africa »

Source: A Comparison Between Two Public Expenditure Management Systems in Africa

Volume/Issue: 2003/2

Series: IMF Working Papers

Author(s): Ian Lienert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2003

ISBN: 9781451841787

Keywords: Budgeting, Audit, Africa, Fiscal policy, Public expenditure management, budget system, British, French, expenditure, expenditures

This paper assesses the advantages and disadvantages of the French and British public expenditure management systems as used in Africa. The main differences are in budget execution and government accounting. In bot...

Choosing a Budget Management System

Choosing a Budget Management System »

Source: Choosing a Budget Management System : The Case of Rwanda

Volume/Issue: 2004/132

Series: IMF Working Papers

Author(s): Ian Lienert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

ISBN: 9781451855418

Keywords: budget system, public management, Constitution, budget law, budget management, annual budget, budget process, budget execution, Structure, Scope

Rwanda is making important choices concerning budget processes. A program-oriented budget framework is now used. A new Constitution, adopted in May 2003, has made some important choices concerning the public manage...

The Negative Mean Output Gap

The Negative Mean Output Gap »

Source: The Negative Mean Output Gap

Volume/Issue: 2019/183

Series: IMF Working Papers

Author(s): Shekhar Aiyar , and Simon Voigts

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 2019

ISBN: 9781513511740

Keywords: Accounting systems, Bank rates, Bond yields, Business cycles, Capital, Capital stocks, Central banking, Central banks, Consumption, Cost of capital

We argue that in an economy with downward nominal wage rigidity, the output gap is negative on average. Because it is more difficult to cut wages than to increase them, firms reduce employment more during downturns...

Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

Optimal Monetary and Fiscal Policy with Limited Asset Market Participation »

Volume/Issue: 2009/137

Series: IMF Working Papers

Author(s): Sven Jari Stehn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

DOI: http://dx.doi.org/10.5089/9781451872842.001

ISBN: 9781451872842

Keywords: rule-of-thumb consumers, government expenditure, optimal monetary policy, optimal fiscal policy., expenditure, government spending, public spending, Rule Of Thumb Consumers, Optimal Fiscal Policy,

This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each peri...