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From Stimulus to Consolidation

2010-10-06 Business & Economics
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Release : 2010-10-06
Genre : Business & Economics
Kind : eBook
Book Rating : 423/5 ( reviews)

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Book Synopsis From Stimulus to Consolidation by : Mr.Benedict J. Clements

Download or read book From Stimulus to Consolidation written by Mr.Benedict J. Clements. This book was released on 2010-10-06. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies policy tools that could be used for fiscal consolidation in advanced and emerging economies in the years ahead. The consolidation strategy, particularly in advanced countries, should aim to stabilize age-related spending in relation to GDP, reduce non-age-related expenditure ratios, and increase revenues. Bold reforms are needed to offset projected increases in age-related spending, particularly health care. On the revenue side, measures could include improving tax compliance, for example through better international cooperation, as well as increasing the yield from VAT by eliminating exemptions and reduced rates, further developing property taxes, and increasing excise rates within the range of rates already applicable in comparable countries.

From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies

2010-06-07 Business & Economics
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Release : 2010-06-07
Genre : Business & Economics
Kind : eBook
Book Rating : 35X/5 ( reviews)

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Book Synopsis From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies by : International Monetary Fund. Finance Dept.

Download or read book From Stimulus to Consolidation - Revenue and Expenditure Policies in Advanced and Emerging Economies written by International Monetary Fund. Finance Dept.. This book was released on 2010-06-07. Available in PDF, EPUB and Kindle. Book excerpt: This review marks the 10th anniversary of the safeguards policy. Introduced in March 2000, the policy’s main objective is to mitigate potential risks of misuse of resources, including Fund resources, and misreporting of monetary program data. The policy was last reviewed in 2005, when the Executive Board re-affirmed the effectiveness of the policy, and its application to central banks. In keeping with previous reviews, a panel of experts was invited to provide advice for the Executive Board on the implementation of the policy, and recommendations to guide the focus and application of the policy going forward.

The Economic Effects of Fiscal Consolidation with Debt Feedback

2013-05-31 Business & Economics
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Release : 2013-05-31
Genre : Business & Economics
Kind : eBook
Book Rating : 489/5 ( reviews)

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Book Synopsis The Economic Effects of Fiscal Consolidation with Debt Feedback by : Mr.Marcello M. Estevão

Download or read book The Economic Effects of Fiscal Consolidation with Debt Feedback written by Mr.Marcello M. Estevão. This book was released on 2013-05-31. Available in PDF, EPUB and Kindle. Book excerpt: The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for fiscal consolidation. To evaluate the delicate balance between stimulus and consolidation requires measuring the size of fiscal multipliers, which often depends on having quarterly data so that exogenous fiscal policy shocks can be identified. We estimate fiscal multipliers using a novel methodology for identifying fiscal shocks within a structural vector autoregressive approach using annual data while controling for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and uses results for advanced economies, emerging market countries, and other broad groupings for which alternative estimates are available to validate the methodology. Differently from advanced and emerging market economies, fiscal consolidation in low-income countries has only a small temporary negative effect on growth while raising medium-term output. Shifting the composition of public spending toward capital expenditure further supports long-run growth.

Strategies for Fiscal Consolidation in the Post-Crisis World

2010-09-17 Business & Economics
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Release : 2010-09-17
Genre : Business & Economics
Kind : eBook
Book Rating : 374/5 ( reviews)

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Book Synopsis Strategies for Fiscal Consolidation in the Post-Crisis World by : Mr.Mauricio Villafuerte

Download or read book Strategies for Fiscal Consolidation in the Post-Crisis World written by Mr.Mauricio Villafuerte. This book was released on 2010-09-17. Available in PDF, EPUB and Kindle. Book excerpt: In response to the global financial crisis, governments provided substantial support to the financial and other key sectors. Although this cushioned the adverse effects of the crisis, it is necessary now to articulate a strategy to ensure the sustainability of public finances. This paper discusses the scale and composition of fiscal adjustment that will need to occur once the recovery is securely under way. Although specific country-level circumstances will influence the composition of the adjustment and its political feasibility, in many cases restoring fiscal sustainability will require reforms to reduce spending and increase tax revenue.

Fiscal Policy and Long-Term Growth

2015-04-20 Business & Economics
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Release : 2015-04-20
Genre : Business & Economics
Kind : eBook
Book Rating : 658/5 ( reviews)

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Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund

Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund. This book was released on 2015-04-20. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

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