Chapter

Fiscal Monitor Selected Topics

Author(s):
International Monetary Fund. Fiscal Affairs Dept.
Published Date:
October 2015
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Fiscal Monitor Archives

Navigating the Fiscal Challenges AheadApril 2010
Fiscal Exit: From Strategy to ImplementationNovember 2010
Shifting GearsApril 2011
Addressing Fiscal Challenges to Reduce Economic RisksSeptember 2011
Balancing Fiscal Policy RisksApril 2012
Taking Stock: A Progress Report on Fiscal AdjustmentOctober 2012
Fiscal Adjustment in an Uncertain WorldApril 2013
Taxing TimesOctober 2013
Public Expenditure Reform: Making Difficult ChoicesApril 2014
Back to Work: How Fiscal Policy Can HelpOctober 2014
Now Is the Time: Fiscal Policies for Sustainable GrowthApril 2015

I. Adjustment

Fiscal Consolidations with Progressive MeasuresApril 2014, Box 2.4
Constructing an Index of the Difficulty of Fiscal AdjustmentOctober 2013, Box 1
Medium-Term Fiscal Adjustment in an Uncertain WorldApril 2013, Chapter 2
Fiscal Adjustment in the United States: Making Sense of the NumbersApril 2013, Box 5
The Appropriate Pace of Short-Term Fiscal AdjustmentApril 2013, Box 2
Taking Stock: A Progress Report on Fiscal AdjustmentOctober 2012, Chapter 2
Distributional Consequences of Alternative Fiscal Consolidation Measures: Reading from the DataOctober 2012, Appendix 1
Easy Does It: The Appropriate Pace of Fiscal ConsolidationApril 2012, Chapter 3
Fiscal Multipliers in Expansions and ContractionsApril 2012, Appendix 1
Early Lessons from Experiences with Large Fiscal Adjustment PlansApril 2012, Appendix 2
Experience with Large Fiscal Adjustment Plans in Ireland and PortugalApril 2012, Box A2.1
Fiscal Adjustment Plans and Medium-Term Fiscal OutlookNovember 2010, Chapter 3
To Tighten or Not to Tighten: This Is the QuestionNovember 2010, Box 1.2
Fiscal Adjustment and Income Distribution in Advanced and Emerging EconomiesNovember 2010, Appendix 3
The Fiscal Policy Outlook: Adjustment Needs and PlansApril 2010, Chapter 3
Adjustment Measures and InstitutionsApril 2010, Chapter 4
Fiscal Adjustment Requirements: Gross and Net Debt TargetsApril 2010, Appendix 2

II. Commodities and Energy

Reforming Energy SubsidiesApril 2015, Box 1.2
The Fiscal Impact of Lower Oil PricesApril 2015, Chapter 1
Reforming Energy SubsidiesApril 2013, Appendix 1
Fiscal Developments in Oil-Producing EconomiesSeptember 2011, Box 3
Pass-Through and Fiscal Impact of Rising Fuel PricesApril 2011, Box 1.2
Global Fuel and Food Price Shocks and Fiscal Performance in Low-Income CountriesSeptember 2011, Box 8
Reforming Petroleum SubsidiesApril 2010, Appendix 5

III. Country Cases

Lowflation and Debt in the Euro AreaOctober 2014, Box 1.1
Fiscal Challenges in the Pacific Island CountriesApril 2014, Box 1.3
Fiscal Reforms to Unlock Economic Potential in the Arab Countries in TransitionOctober 2013, Box 2
Fiscal Adjustment in the United States: Making Sense of the NumbersApril 2013, Box 5
Lessons from SwedenOctober 2012, Box 2
The “Two-Pack”: Further Reforms to Fiscal Governance in the Euro AreaOctober 2012, Box 6
Ireland: The Impact of Crisis and Fiscal Policies on InequalityOctober 2012, Box 8
The “Fiscal Compact”: Reforming EU Fiscal GovernanceApril 2012, Box 5
Experience with Large Fiscal Adjustment Plans in Ireland and PortugalApril 2012, Box A2.1
Subnational Government Response to the Financial Crisis in the United States and CanadaApril 2012, Box A3.1
United States: Government-Sponsored Enterprises and Contingent LiabilitiesSeptember 2011, Box 1
The Dog That Didn’t Bark (So Far): Low Interest Rates in the United States and JapanSeptember 2011, Chapter 3
Fiscal Aspects of EU Economic Governance ReformsApril 2011, Box 4.1
The U.S. National Commission ReportApril 2011, Box A5.1
The European Union: Reforming Fiscal GovernanceNovember 2010, Box 3.2
Increasing Social Expenditures and Household Consumption in ChinaApril 2010, Box 4
Health Care Reforms in United StatesApril 2010, Box 5

IV. Crises, Shocks

Learning from the Crisis? Taxation and Financial StabilityOctober 2013, Box 3
The Impact of the Global Financial Crisis on Subnational Government FinancesApril 2012, Appendix 3
The Evolution of Seigniorage during the CrisisApril 2012, Box 4
Subnational Government Response to the Financial Crisis in the United States and CanadaApril 2012, Box A3.1
Ireland: The Impact of Crisis and Fiscal Policies on InequalityOctober 2012, Box 8
The Legacy of the Crisis: How Long Will It Take to Lower Public Debt?September 2011, Chapter 5
The G-20 Economies: Crisis-Related Discretionary Fiscal StimulusNovember 2010, Box 1.1
Update on Crisis-Related Discretionary Fiscal Stimulus in G-20 EconomiesApril 2010, Appendix 1
The Impact of the Crisis on Subnational GovernmentsApril 2010, Appendix 4

V. Emerging Markets

Nonresident Holdings of Emerging Market Economy DebtApril 2014, Box 1.2
Potential Sources of Contingent Liabilities in Emerging Market EconomiesApril 2013, Box 4
Fiscal Fundamentals and Global Spillovers in Emerging EconomiesApril 2012, Box 2
Too Good to Be True? Fiscal Developments in Emerging EconomiesSeptember 2011, Chapter 4
Determinants of Domestic Bond Yields in Emerging EconomiesSeptember 2011, Box 4

VI. Employment

Can Fiscal Policies Do More for Jobs?October 2014, Chapter 2
Methodology for Estimating the Impact of Fiscal Consolidation on EmploymentOctober 2014, Appendix 1
Do Old Workers Crowd Out the Youth?October 2014, Box 2.2
Fiscal Policies to Address Weak EmploymentOctober 2012, Appendix 2

VII. Financial Sector

The Fiscal Implications of International Bond Issuance by Low-Income Developing CountriesOctober 2014, Box 1.2
Nonresident Holdings of Emerging Market Economy DebtApril 2014, Box 1.2
A One-Off Capital Levy?October 2013, Box 6
Bond Yields and Stability of the Investor BaseApril 2013, Box 3
Long-Run and Short-Run Determinants of Sovereign Bond Yields in Advanced EconomiesOctober 2012, Box 3
Financial Sector SupportOctober 2012, Box 4
Reassuring Markets about Fiscal Sustainability in the Euro AreaSeptember 2011, Chapter 2
Determinants of Domestic Bond Yields in Emerging EconomiesSeptember 2011, Box 4
Financial Sector Support and Recovery to DateSeptember 2011, Box 7
Financial Sector Support and Recovery to DateApril 2011, Box 1.1
Sovereign Financing and Government Debt MarketsNovember 2010, Chapter 2
Advanced Economies: Financial Market Spillovers among SovereignsNovember 2010, Box 2.2
Market Concerns about Economies and Default RisksNovember 2010, Box 2.1
Are Sovereign Spreads Linked to Fundamentals?November 2010, Appendix 2
Measures to Finance the Cost of Financial Sector SupportApril 2010, Box 3

VIII. Fiscal Outlook

Recent Fiscal Developments and OutlookApril 2015, Chapter 1
Recent Fiscal Developments and OutlookOctober 2014, Chapter 1
Recent Fiscal Developments and OutlookApril 2014, Chapter 1
Recent Fiscal Developments and the Short-Term OutlookOctober 2013, Chapter 1
Recent Fiscal Developments and the Short-Term OutlookApril 2013, Chapter 1
The Fiscal OutlookOctober 2012, Chapter 1
Moving ForwardOctober 2012, Chapter 3
Continued Fiscal Tightening Is in Store for 2012, Particularly among Advanced EconomiesApril 2012, Chapter 1
Conclusion and Risk AssessmentApril 2012, Chapter 7
Risk to the BaselineSeptember 2011, Box 2
Fiscal Developments in Oil-Producing EconomiesSeptember 2011, Box 3
The Fiscal Indicators IndexSeptember 2011, Box 5
Addressing Fiscal Challenges to Reduce Economic Risks: IntroductionSeptember 2011, Chapter 1
Addressing Fiscal Challenges to Reduce Economic Risks: ConclusionSeptember 2011, Chapter 7
Too Good to Be True? Fiscal Developments in Emerging EconomiesSeptember 2011, Chapter 4
Shocks to the Baseline Fiscal OutlookApril 2011, Chapter 3
Fiscal Developments and Near-Term OutlookNovember 2010, Chapter 1
Fiscal Adjustment Plans and Medium-Term Fiscal OutlookNovember 2010, Chapter 3
Assessing Fiscal RisksNovember 2010, Chapter 4
The Near-and Medium-Term Fiscal OutlookApril 2010, Chapter 1

IX. Government Debt

Lowflation and Debt in the Euro AreaOctober 2014, Box 1.1
Moment of Truth: Unfunded Pension Liabilities and Public Debt StatisticsApril 2014, Box 1.1
Public Debt Dynamics and Fiscal Adjustment in Low-Income Countries in Sub-Saharan AfricaApril 2013, Box 6
Debt Ratios Are Still on the Rise, but Peaks Are within SightApril 2012, Chapter 2
High Gross Debt Levels May Overstate Challenges in the Short RunApril 2012, Chapter 4
… But Long-Run Debt-Related Challenges Remain LargeApril 2012, Chapter 5
The Legacy of the Crisis: How Long Will It Take to Lower Public Debt?September 2011, Chapter 5
Factors Underlying the Debt Increase Precrisis versus End-2015September 2011, Box 6
The Importance of Monitoring Both Gross and Net DebtSeptember 2011, Appendix 3
Stock-Flow Adjustments and Their DeterminantsSeptember 2011, Appendix 4
Fiscal Deficits and Debts: Development and OutlookApril 2011, Chapter 1
Sovereign Financing and Government Debt MarketsApril 2011, Chapter 2
Debt Dynamics and the Interest Rate-Growth DifferentialApril 2011, Box 3.1
Sovereign Financing and Government Debt MarketsNovember 2010, Chapter 2
Implications of Fiscal Developments for Government Debt MarketsApril 2010, Chapter 2
Are Sovereign Spreads Linked to Fundamentals?November 2010, Appendix 2
Risks to Medium-Term Public Debt Trajectories Methodological and Statistical AppendixNovember 2010, Appendix 4
Debt Dynamics in G-20 Economies: An UpdateApril 2010, Box 1
Gross versus Net DebtApril 2010, Box 2
Fiscal Adjustment Requirements: Gross and Net Debt TargetsApril 2010, Appendix 2
Government Debt and GrowthApril 2010, Appendix 3

X. Growth

Taxation and Growth: Details MatterOctober 2013, Box 4
Debt Dynamics and the Interest Rate-Growth DifferentialApril 2011, Box 3.1
Interest Rate-Growth DifferentialNovember 2010, Appendix 1
Government Debt and GrowthApril 2010, Appendix 3

XI. Interest Rates

The Dog That Didn’t Bark (So Far): Low Interest Rates in the United States and JapanSeptember 2011, Chapter 3
Debt Dynamics and the Interest Rate-Growth DifferentialApril 2011, Box 3.1
Interest Rate-Growth DifferentialNovember 2010, Appendix 1

XII. Low-Income Countries

The Fiscal Implications of International Bond Issuance by Low-Income Developing CountriesOctober 2014, Box 1.2
Confronting Trade-Offs: Accommodating Spending Pressures in Low-Income CountriesSeptember 2011, Chapter 6
Global Fuel and Food Price Shocks and Fiscal Performance in Low-Income CountriesSeptember 2011, Box 8

XIII. Policy and Reform

An Active, Supportive Role for Fiscal PolicyApril 2015, Chapter 1
Can Fiscal Policy Stabilize Output?April 2015, Chapter 2
How Fiscal Policy Influences Economic ActivityApril 2015, Chapter 2
Public Expenditure Reform: Making Difficult ChoicesApril 2014, Chapter 2
Expenditure Rules: Effective Tools for Sound Fiscal PolicyApril 2014, Appendix 1
The Future of the State: Testing the Wagner and Baumol HypothesesApril 2014, Box 2.1
Fiscal Reforms to Unlock Economic Potential in the Arab Countries in TransitionOctober 2013, Box 2
Tricks of the TradeOctober 2013, Box 5
How Can Fiscal Councils Strengthen Fiscal Performance?April 2013, Box 1
The “Two-Pack”: Further Reforms to Fiscal Governance in the Euro AreaOctober 2012, Box 6
Commonly Used Definitions of the Fiscal BalanceOctober 2012, Box 1
Measuring Fiscal Space: A Critical Review of Existing MethodologiesApril 2012, Box 1
Anchoring Medium-Term Fiscal Credibility: The Second Generation of Fiscal RulesApril 2012, Chapter 6
The “Fiscal Compact”: Reforming EU Fiscal GovernanceApril 2012, Box 5
Assessing the Cyclicality of Subnational Government PoliciesApril 2012, Box A3.2
“Fiscal Devaluation”: What Is It—and Does It Work?September 2011, Appendix 1
Fiscal Aspects of EU Economic Governance ReformsApril 2011, Box 4.1
Fiscal Transparency Under PressureApril 2011, Appendix 2
The European Union: Reforming Fiscal GovernanceNovember 2010, Box 3.2
Fiscal Rules—Recent DevelopmentsApril 2010, Box 7

XIV. Privatization, Public Enterprises

General Government Nonfinancial Assets: What Do We Know?October 2012, Box 7
Government Shares in Publicly Listed CompaniesApril 2012, Box 3
United States: Government-Sponsored Enterprises and Contingent LiabilitiesSeptember 2011, Box 1
Adjusting Public Capital Stock for Investment InefficiencySeptember 2011, Box 9
Insights for Privatization Plans from Previous Large EpisodesSeptember 2011, Appendix 2

XV. Revenue

Past, Present, and Future Patterns in RevenuesApril 2015, Box 1.1
Assessing Potential Revenue: Two ApproachesOctober 2013, Appendix 2
Increasing Revenue from Real Property TaxesOctober 2013, Appendix 3
Past Episodes of Sustained Fiscal Revenue IncreasesApril 2010, Box 6

XVI. Social Expenditures

The Pressure of Age-Related Spending on Public Debt in Advanced EconomiesApril 2015, Box 1.3
Targeted Employer Social Security Contribution Cuts: Lessons from Experiences in Advanced EconomiesOctober 2014, Box 2.1
Public Expenditure Reform: Making Difficult ChoicesApril 2014, Chapter 2
Moment of Truth: Unfunded Pension Liabilities and Public Debt StatisticsApril 2014, Box 1.1
Structural Measures and Social DialogueApril 2014, Box 2.2
Health System InefficienciesApril 2014, Box 2.3
Recent Developments in Public Health Spending and Outlook for the FutureOctober 2013, Appendix 1
Confronting Trade-Offs: Accommodating Spending Pressures in Low-Income CountriesSeptember 2011, Chapter 6
Potential Reform Strategies to Contain the Growth of Public Health SpendingApril 2011, Box A1.1
The U.S. National Commission ReportApril 2011, Box A5.1
Tackling the Challenge of Health Care Reform in Advanced EconomiesApril 2011, Appendix 1
Selected Spending and Tax IssuesNovember 2010, Chapter 5
Advanced Economies: The Outlook for Public Health SpendingNovember 2010, Box 3.1
Increasing Social Expenditures and Household Consumption in ChinaApril 2010, Box 4
Health Care Reforms in United StatesApril 2010, Box 5

XVII. Stabilization

Can Fiscal Policy Stabilize Output?April 2015, Chapter 2
How Fiscal Policy Influences Economic ActivityApril 2015, Chapter 2
What Shapes Fiscal Stabilization?April 2015, Chapter 2
Potential Payoffs from Fiscal StabilizationApril 2015, Chapter 2
Fiscal Stabilization under Alternative Estimates of the Output GapApril 2015, Box 2.1
Boosting the Effectiveness of Automatic StabilizersApril 2015, Box 2.2

XVIII. Stimulus

The G-20 Economies: Crisis-Related Discretionary Fiscal StimulusNovember 2010, Box 1.1
Update on Crisis-Related Discretionary Fiscal Stimulus in G-20 EconomiesApril 2010, Appendix 1

XIX. Subsidies

Reforming Energy SubsidiesApril 2015, Box 1.2
Reforming Energy SubsidiesApril 2013, Appendix 1
Reforming Petroleum SubsidiesApril 2010, Appendix 5

XX. Sustainability

Reassuring Markets about Fiscal Sustainability in the Euro AreaSeptember 2011, Chapter 2
Assessing and Mitigating Fiscal Sustainability RisksApril 2011, Chapter 4
Assessing Fiscal Sustainability Risks: Deriving a Fiscal Sustainability Risk MapApril 2011, Appendix 3

XXI. Taxes

Taxing Our Way out of—or into?—TroubleOctober 2013, Chapter 2
Learning from the Crisis? Taxation and Financial StabilityOctober 2013, Box 3
Taxation and Growth: Details MatterOctober 2013, Box 4
A One-Off Capital Levy?October 2013, Box 6
Increasing Revenue from Real Property TaxesOctober 2013, Appendix 3
Do Pensioners Get Special Treatment on Taxes?October 2012, Box 5
Containing Tax ExpendituresApril 2011, Appendix 5
Selected Spending and Tax IssuesNovember 2010, Chapter 5

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