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Promoting Fiscal Discipline

Promoting Fiscal Discipline »

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

DOI: http://dx.doi.org/10.5089/9781589066090.071

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as devel...

Budget System Reform in Emerging Economies
			: The Challenges and the Reform Agenda

Budget System Reform in Emerging Economies : The Challenges and the Reform Agenda »

Series: Occasional Papers

Author(s): Jack Diamond

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 April 2006

DOI: http://dx.doi.org/10.5089/9781589064744.084

ISBN: 9781589064744

Keywords: Budgetary reforms, Public finance, Government accounting, budget management, accrual accounting, performance budgeting, budget systems, budget system

With increasing frequency, the IMF has assisted middle-income countries, especially emerging economies, in adopting the types of budget reforms that have been introduced in many Organization for Economic Cooperatio...

On the Measurement of Horizontal Inequity

On the Measurement of Horizontal Inequity »

Source: On the Measurement of Horizontal Inequity

Volume/Issue: 1995/135

Series: IMF Working Papers

Author(s): Peter Lambert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1995

ISBN: 9781451855654

Keywords: tax system, tax performance, tax reform, tax systems, tax income

This paper makes a new attack on the old problem of measuring horizontal inequity in the income tax. Local measures of inequality of posttax income among pretax equals are proposed, which reflect alternative value...

Budget Processes and Commitment to Fiscal Discipline

Budget Processes and Commitment to Fiscal Discipline »

Source: Budget Processes and Commitment to Fiscal Discipline

Volume/Issue: 1996/78

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1996

ISBN: 9781451850079

Keywords: budget process, fiscal discipline, fiscal performance, budget law, budget act

This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targ...

Why Are Canadian Banks More Resilient?1

Why Are Canadian Banks More Resilient?1 »

Source: Why Are Canadian Banks More Resilient?

Volume/Issue: 2009/152

Series: IMF Working Papers

Author(s): Rocco Huang , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

ISBN: 9781451872996

Keywords: Early Warning System, capital injection, banking, bank performance, bank of canada,

This paper explores factors behind Canadian banks' relative resilience in the ongoing credit turmoil. We identify two main causes: a higher share of depository funding (vs. wholesale funding) in liabilities, and a...

The Golden Rule and the Economic Cycles*

The Golden Rule and the Economic Cycles* »

Source: The Golden Rule and the Economic Cycles

Volume/Issue: 2007/199

Series: IMF Working Papers

Author(s): Keiko Honjo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451867633

Keywords: Golden rule, fiscal rule, procyclical fiscal policy, economic cycle, macroeconomic stability, fiscal balance, fiscal performance, public finances,

The present formulation of the golden rule in the United Kingdom allows fiscal performance to be tested explicitly on an ex-post basis. However, it requires precise dating of the economic cycle, which can lead to s...

Empirical Exchange Rate Models of the Nineties

Empirical Exchange Rate Models of the Nineties »

Source: Empirical Exchange Rate Models of the Nineties : Are Any Fit to Survive?

Volume/Issue: 2004/73

Series: IMF Working Papers

Author(s): Yin-Wong Cheung , Antonio Garcia Pascual , and Menzie Chinn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2004

ISBN: 9781451849493

Keywords: monetary model, forecasting performance, exchange rate, forecasting, random walk, statistic, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

We reassess exchange rate prediction using a wider set of models that have been proposed in the last decade. The performance of these models is compared against two reference specifications-purchasing power parity...

Making Public Investment More Efficient

Making Public Investment More Efficient »

Source: Making Public Investment More Efficient

Volume/Issue: 2015/003

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 January 2015

ISBN: 9781498344630

Keywords: Public sector investments, Public investments, Economic growth, Economic policy, Economic recovery, PPPs, public investment, PIM, investment performance, investment management

Public investment supports the delivery of key public services, connects citizens and firms to economic opportunities, and can serve as an important catalyst for economic growth. After three decades of decline, pub...

1 Fiscal Discipline: Key Issues and Overview

1 Fiscal Discipline: Key Issues and Overview »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Since the early 1970s, fiscal deficits and rising public debt have been ubiquitous features of government budgetary positions. Indeed, in aggregate, fiscal balances...

2 Discretion, Institutions, and Fiscal Discipline

2 Discretion, Institutions, and Fiscal Discipline »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Economic analysis has long recognized that policymakers, particularly in the fiscal domain, act quite rationally according to specific incentives, including reelecti...