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Back to the Future: Fiscal Rules for Regaining Sustainability

2019-11-07 Business & Economics
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Release : 2019-11-07
Genre : Business & Economics
Kind : eBook
Book Rating : 123/5 ( reviews)

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Book Synopsis Back to the Future: Fiscal Rules for Regaining Sustainability by : Mr.Serhan Cevik

Download or read book Back to the Future: Fiscal Rules for Regaining Sustainability written by Mr.Serhan Cevik. This book was released on 2019-11-07. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the period since 1976. While the government’s recent commitment to maintain a primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given Belize’s history of large economic shocks, this paper proposes explicit fiscal rules designed for countercyclical policy and debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing an independent fiscal council to improve accountability and transparency.

Back to the Future: Fiscal Rules for Regaining Sustainability

2019-11-08 Business & Economics
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Author :
Release : 2019-11-08
Genre : Business & Economics
Kind : eBook
Book Rating : 867/5 ( reviews)

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Book Synopsis Back to the Future: Fiscal Rules for Regaining Sustainability by : Mr.Serhan Cevik

Download or read book Back to the Future: Fiscal Rules for Regaining Sustainability written by Mr.Serhan Cevik. This book was released on 2019-11-08. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the period since 1976. While the government’s recent commitment to maintain a primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given Belize’s history of large economic shocks, this paper proposes explicit fiscal rules designed for countercyclical policy and debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing an independent fiscal council to improve accountability and transparency.

Back to the Future

2019
Download Back to the Future PDF Online Free

Author :
Release : 2019
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Back to the Future by : Serhan Cevik

Download or read book Back to the Future written by Serhan Cevik. This book was released on 2019. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation model to determine the optimal set of fiscal rules. The empirical analysis shows that fiscal policy in Belize has been significantly procyclical and unsustainable much of the period since 1976. While the government’s recent commitment to maintain a primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given Belize’s history of large economic shocks, this paper proposes explicit fiscal rules designed for countercyclical policy and debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing an independent fiscal council to improve accountability and transparency.

Fiscal Sustainability

2013-04-22 Business & Economics
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Release : 2013-04-22
Genre : Business & Economics
Kind : eBook
Book Rating : 495/5 ( reviews)

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Book Synopsis Fiscal Sustainability by : Mr.Evan Tanner

Download or read book Fiscal Sustainability written by Mr.Evan Tanner. This book was released on 2013-04-22. Available in PDF, EPUB and Kindle. Book excerpt: This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some objective regarding the distribution of fiscal burdens and distortions over time (in the tradition of Barro’s 1979 tax smoothing objective). The paper discusses objective functions that yield simple and transparent fiscal policy rules.

The Return to Fiscal Rules

2022-10-11 Business & Economics
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Release : 2022-10-11
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis The Return to Fiscal Rules by : Francesca Caselli

Download or read book The Return to Fiscal Rules written by Francesca Caselli. This book was released on 2022-10-11. Available in PDF, EPUB and Kindle. Book excerpt: Governments face difficult policy trade-offs with record debt levels, tightening monetary policies, and urgent demands, including food and energy crises, the climate agenda, and population aging. Governments need to communicate fiscal plans to reduce debt sustainability risks and promote consistent macroeconomic policies. Many envisage a return to fiscal rules that had been suspended during the pandemic to strengthen credibility. This situation offers an opportunity to rethink fiscal rules and determine how governments can make fiscal policy more agile, including in responding to crises, without undermining fiscal sustainability. A risk-based medium-term fiscal framework that combines standards, rules, and strengthened institutions would strike a better balance between flexibility and credibility.

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