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Modeling Optimal Fiscal Consolidation Paths in a Selection of European Countries

2011-07-01 Business & Economics
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Release : 2011-07-01
Genre : Business & Economics
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Book Rating : 203/5 ( reviews)

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Book Synopsis Modeling Optimal Fiscal Consolidation Paths in a Selection of European Countries by : Mr.Daniel Kanda

Download or read book Modeling Optimal Fiscal Consolidation Paths in a Selection of European Countries written by Mr.Daniel Kanda. This book was released on 2011-07-01. Available in PDF, EPUB and Kindle. Book excerpt: For a number of countries - Italy, Netherlands, the United Kingdom, Germany, Ireland, and France - this paper develops an inter-temporal model that elicits the implied country-preferences over balancing the conflicting objectives of fiscal consolidation and reduction of economic slack. The model suggests that some front-loading of adjustment is desirable, although the extent would vary by country preferences. It also finds that proposed consolidations may prove to be stronger than acceptable, especially if somewhat larger than anticipated fiscal multipliers lead to a sizeable economic deceleration.

Modeling Appropriate Fiscal Targets and Optimal Consolidation Paths for Resource-Rich Countries

2014-07-10 Business & Economics
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Release : 2014-07-10
Genre : Business & Economics
Kind : eBook
Book Rating : 994/5 ( reviews)

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Book Synopsis Modeling Appropriate Fiscal Targets and Optimal Consolidation Paths for Resource-Rich Countries by : Mr.Daniel Kanda

Download or read book Modeling Appropriate Fiscal Targets and Optimal Consolidation Paths for Resource-Rich Countries written by Mr.Daniel Kanda. This book was released on 2014-07-10. Available in PDF, EPUB and Kindle. Book excerpt: This paper first attempts to quantify the natural resource wealth of Suriname from the perspective of its impact on the fiscal position, and then assesses the fiscal sustainability gap in that context. It then presents models to address the question of the optimal path of fiscal consolidation given the outlook for natural resource wealth, macroeconomic conditions, and country authority preferences.

A Buffer-Stock Model for the Government: Balancing Stability and Sustainability

2019-07-22 Business & Economics
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Release : 2019-07-22
Genre : Business & Economics
Kind : eBook
Book Rating : 75X/5 ( reviews)

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Book Synopsis A Buffer-Stock Model for the Government: Balancing Stability and Sustainability by : Jean-Marc Fournier

Download or read book A Buffer-Stock Model for the Government: Balancing Stability and Sustainability written by Jean-Marc Fournier. This book was released on 2019-07-22. Available in PDF, EPUB and Kindle. Book excerpt: A fiscal reaction function to debt and the cycle is built on a buffer-stock model for the government. This model inspired by the buffer-stock model of the consumer (Deaton 1991; Carroll 1997) includes a debt limit instead of the Intertemporal Budget Constraint (IBC). The IBC is weak (Bohn, 2007), a debt limit is more realistic as it reflects the risk of losing market access. This risk increases the welfare cost of fiscal stimulus at high debt. As a result, the higher the debt, the less governments should smooth the cycle. A larger reaction of interest rates to debt and higher hysteresis magnify this interaction between the debt level and the appropriate reaction to shocks. With very persistent shocks, the appropriate reaction to negative shocks in highly indebted countries can even be procyclical.

Kingdom of Netherlands

2011-06-21 Business & Economics
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Release : 2011-06-21
Genre : Business & Economics
Kind : eBook
Book Rating : 648/5 ( reviews)

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Book Synopsis Kingdom of Netherlands by : International Monetary Fund

Download or read book Kingdom of Netherlands written by International Monetary Fund. This book was released on 2011-06-21. Available in PDF, EPUB and Kindle. Book excerpt: Important issues of the Netherlands are discussed. Openness to trade has benefited the Netherlands before the crisis and has supported the recent recovery process. However, both financial openness and trade linkages have also been a transmission channel for the financial crisis. Synchronized fiscal tightening across Europe has important spillover effects for GDP growth. The improvement on the supply side of credit has contributed to a normalization of the credit market. However, the recent increase in the financial stress index indicates that the situation is still fragile.

Fiscal Consolidation in Southeastern European Countries

2012-05-01
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Release : 2012-05-01
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Kind : eBook
Book Rating : 340/5 ( reviews)

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Book Synopsis Fiscal Consolidation in Southeastern European Countries by : International Monetary Fund

Download or read book Fiscal Consolidation in Southeastern European Countries written by International Monetary Fund. This book was released on 2012-05-01. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the relative strengths and weaknesses of fiscal institutions in ten Southeastern European countries, using recent benchmarking methodologies developed by FAD. The assessment evaluates each country’s understanding of the scale of the fiscal adjustment challenge, its ability to develop a credible consolidation strategy, and its capacity to implement the strategy. Key institutional arrangements, are generally in place, including top-down budgeting and medium-term budget frameworks. Other institutional arrangements require further attention, including macro-fiscal forecasting, fiscal risk analysis, setting fiscal objectives, presence and role of independent fiscal agencies, and top-down parliamentary approval.

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