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Fiscal Rules—Anchoring Expectations for Sustainable Public Finances

2009-12-11 Business & Economics
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Release : 2009-12-11
Genre : Business & Economics
Kind : eBook
Book Rating : 160/5 ( reviews)

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Book Synopsis Fiscal Rules—Anchoring Expectations for Sustainable Public Finances by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Rules—Anchoring Expectations for Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept.. This book was released on 2009-12-11. Available in PDF, EPUB and Kindle. Book excerpt: The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.

Fiscal Rules-Anchoring Expectations for Sustainable Public Finances

2009
Download Fiscal Rules-Anchoring Expectations for Sustainable Public Finances PDF Online Free

Author :
Release : 2009
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Fiscal Rules-Anchoring Expectations for Sustainable Public Finances by : Internationaler Währungsfonds

Download or read book Fiscal Rules-Anchoring Expectations for Sustainable Public Finances written by Internationaler Währungsfonds. This book was released on 2009. Available in PDF, EPUB and Kindle. Book excerpt: The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.

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.

Sustainability of Public Finances

1998 Business & Economics
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Release : 1998
Genre : Business & Economics
Kind : eBook
Book Rating : 359/5 ( reviews)

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Book Synopsis Sustainability of Public Finances by : Roberto Perotti

Download or read book Sustainability of Public Finances written by Roberto Perotti. This book was released on 1998. Available in PDF, EPUB and Kindle. Book excerpt: A central tenet of the Maastricht Treaty is that a successful European Monetary Union requires sustainable public finances of its member states, yet there is no clear definition of sustainability. This book develops a concept of sustainability focusing on the controllability of public finances. After reviewing the theoretical and empirical arguments for a disaggregate and institutions-oriented approach to correcting non-sustainable deficits, the authors propose a practical procedure to assess the sustainability of a country's public finances.

Smart Fiscal Consolidation

2013-05-10 Political Science
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Release : 2013-05-10
Genre : Political Science
Kind : eBook
Book Rating : 291/5 ( reviews)

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Book Synopsis Smart Fiscal Consolidation by : Galina Kolev

Download or read book Smart Fiscal Consolidation written by Galina Kolev. This book was released on 2013-05-10. Available in PDF, EPUB and Kindle. Book excerpt: PDF downloadable for free from http://martenscentre.eu/publications/smart-fiscal-consolidation-strategy-achieving-sustainable-public-finances-and-growth Due to high government debt levels and the dangers of self-defeating austerity, smart fiscal consolidation measures are needed that foster economic growth. A thorough review of the relevant literature provides many useful insights. To regain credibility, a clearly communicated broad reform program (including structural reforms) is required. Targeting mainly public expenditures, rather than revenues, raises the chances of expansionary effects. The timing of consolidation should focus on adjustment in structural terms to leave room for automatic stabilisers. The main part of the study evaluates the impact of individual consolidation and fiscal reform measures on consolidation success, on economic growth (in the long and short term), and on social fairness.

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