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Fiscal Adjustment for Stability and Growth

Fiscal Adjustment for Stability and Growth »

Series: Pamphlet Series

Author(s): James Daniel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 August 2006

DOI: http://dx.doi.org/10.5089/9781589065130.054

ISBN: 9781589065130

Keywords: Economic growth, fiscal policy, fiscal adjustment, expenditure, public expenditure, aggregate demand

The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF's approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stabil...

Fiscal Policy for the Crisis

Fiscal Policy for the Crisis »

Source: Fiscal Policy for the Crisis

Volume/Issue: 2008/01

Series: IMF Staff Position Notes

Author(s): Antonio Spilimbergo , Steven Symansky , Carlo Cottarelli , and Olivier Blanchard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 January 2009

ISBN: 9781589067981

Keywords: Fiscal policy, fiscal stimulus, aggregate demand, interest rates, fiscal multipliers

The current crisis calls for two main sets of policy measures. First, measures to repair the financial system. Second, measures to increase demand and restore confidence. While some of these measures overlap, the f...

Fiscal Policy During Absorption Cycles

Fiscal Policy During Absorption Cycles »

Source: Fiscal Policy During Absorption Cycles

Volume/Issue: 2011/41

Series: IMF Working Papers

Author(s): Ferhan Salman , and Gabriela Dobrescu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

ISBN: 9781455218004

Keywords: fiscal policy, structural fiscal balance, domestic absorption, output gap, fiscal reaction function, fiscal stance, business cycle, fiscal aggregates

Domestic absorption cycles are relevant in assessment and design of fiscal policies. Our cross-country analysis covers 59 advanced and emerging countries for the 1990-2009 period. We show that ignoring domestic abs...

Analytical and Methodological Issues in the Measurement of Fiscal Deficits

Analytical and Methodological Issues in the Measurement of Fiscal Deficits »

Source: Analytical and Methodological Issues in the Measurement of Fiscal Deficits

Volume/Issue: 1990/105

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

ISBN: 9781451947380

Keywords: inflation, aggregate demand, central bank, monetary fund, fiscal deficit

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

Effects of Fiscal Consolidation in the Czech Republic

Effects of Fiscal Consolidation in the Czech Republic »

Source: Effects of Fiscal Consolidation in the Czech Republic

Volume/Issue: 2011/65

Series: IMF Working Papers

Author(s): Stephen Snudden , and Vladimir Klyuev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455228058

Keywords: fiscal multipliers, general equilibrium models., fiscal rule, aggregate demand, labor income, consumption tax, National Budget, Deficit, and Debt: General,

This paper uses the IMF's Global Integrated Monetary and Fiscal Model (GIMF) to assess the impact of fiscal consolidation on the Czech economy. Its contribution is threefold. First, it provides estimates of dynamic...

The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy

The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy »

Source: The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy : An Application of the Structural Error Correction Model

Volume/Issue: 2000/165

Series: IMF Working Papers

Author(s): Tetsuya Konuki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451858044

Keywords: Monetary and fiscal policy, structural error correction models, equation, aggregate demand, equations, cointegration

This paper empirically analyzes the short-run effects of monetary and fiscal policy on aggregate demand, using the two-step structural error correction method. This method has an advantage over the standard reduced...

Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina

Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina »

Source: Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina

Volume/Issue: 2006/276

Series: IMF Working Papers

Author(s): Daniel Kanda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

ISBN: 9781451865363

Keywords: Fiscal, monetary, trade balance, fiscal expenditure, fiscal tightening, disposable income, fiscal consolidation, Estimation, Model Construction and Estimation, General Aggregative Models: Forecasting and Simulation

This paper develops and estimates a model of the trade balance of Bosnia and Herzegovina. Credit flows and the fiscal stance are found to play a significant role in determining the trade balance. On this basis the...

Accrual Budgeting and Fiscal Policy

Accrual Budgeting and Fiscal Policy »

Source: Accrual Budgeting and Fiscal Policy

Volume/Issue: 2009/84

Series: IMF Working Papers

Author(s): Marc Robinson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872316

Keywords: fiscal stabilization policy, net worth, control totals, net lending, aggregate expenditure, expenditure, capital expenditure,

Can an accrual budgeting system-a system in which budgetary spending authorizations to line ministries are formulated in accrual terms-serve the needs of good fiscal policy? If so, how must such a system be designe...

Commodity Price Shocks and the Oddson Fiscal Performance

Commodity Price Shocks and the Oddson Fiscal Performance »

Source: Commodity Price Shocks and the Oddson Fiscal Performance

Volume/Issue: 2005/171

Series: IMF Working Papers

Author(s): Francis Kumah , and John Matovu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2005

ISBN: 9781451861907

Keywords: structural VAR, pro-cyclical fiscal policy, expenditure, fiscal performance, expenditures, fiscal aggregates, Econometric Modeling: General, General Outlook and Conditions, Strucral VAR,

Unanticipated changes in commodity prices can generate significant movements in fiscal aggregates. This paper seeks to understand the dynamics of these fiscal movements in the context of transitory commodity price...

Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries

Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries »

Source: Growth, Governance, and Fiscal Policy Transmission Channels in Low-Income Countries

Volume/Issue: 2003/237

Series: IMF Working Papers

Author(s): Naoko Kojo , Arye Hillman , and Emanuele Baldacci

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2003

ISBN: 9781451875737

Keywords: Growth, low-income countries, public spending, fiscal deficit, fiscal contractions, expansionary fiscal, National Deficit Surplus, low-income countries and Finance, Taxation, Deficit

Private investment is the principal transmission channel through which fiscal policy affects growth in high-income countries. In low-income countries, governance and also other considerations suggest that the prima...