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Understanding Fiscal Space

2005-03-01 Business & Economics
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Release : 2005-03-01
Genre : Business & Economics
Kind : eBook
Book Rating : 635/5 ( reviews)

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Book Synopsis Understanding Fiscal Space by : Mr.Peter S. Heller

Download or read book Understanding Fiscal Space written by Mr.Peter S. Heller. This book was released on 2005-03-01. Available in PDF, EPUB and Kindle. Book excerpt: With new initiatives to provide low income countries with external assistance in support of the Millennium Development Goals (MDGs), donors and NGOs are seeking to understand whether "fiscal space" can be provided in the context of IMF-supported programs to support these initiatives. This paper defines the concept of fiscal space and its link to fiscal sustainability, describes alternative ways in which fiscal space can be created, and notes how the IMF can support appropriate efforts to create fiscal space. The paper underscores that the issues that arise in creating fiscal space are not novel, but have always confronted governments in judging whether there is scope for additional expenditure.

Boosting Fiscal Space

2018-03-14 Business & Economics
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Release : 2018-03-14
Genre : Business & Economics
Kind : eBook
Book Rating : 935/5 ( reviews)

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Book Synopsis Boosting Fiscal Space by : Mr.Jonathan David Ostry

Download or read book Boosting Fiscal Space written by Mr.Jonathan David Ostry. This book was released on 2018-03-14. Available in PDF, EPUB and Kindle. Book excerpt: Noting that the aftermath of the global financial crisis has left many advanced economies with very high sovereign debt ratios and some emerging markets with high debt, this report considers whether there are ways to expand fiscal space that do not involve countries paying down debt or promising to do so in the future, to make fiscal consolidation more growth-friendly. It explains that policymakers argue that their fiscal space is limited and that it would be difficult to take advantage of the opportunity of low interest rates to undertake fiscal expansion, and it considers a ways to raise fiscal space that does not require contractionary fiscal policy and whether there is a way to make fiscal consolidation more growth-friendly to produce larger gains in fiscal space. It argues that debt management policies may provide an answer to expanding fiscal space for a given path of primary fiscal balances by reducing the risk that a sovereign may default in bad states and generate a payoff in terms of reduced to real borrowing costs. It describes two debt management policies: issuance of GDP-linked debt and issuance of longer maturity bonds, as opposed to short-term debt. It focuses on the effect of these debt management policies on real borrowing costs and default risk for the sovereign and details the literature on GDP-linked debt and the maturity structure and how the report fills gaps in the literature; how uncertainty affects fiscal space and how debt management can play a role in increasing it, with estimates and simulations of potential gains in fiscal space flowing from debt management; and the sensitivity of the findings to underlying assumptions and policy implications.

"Fiscal Space" and the Federal Budget

2017 Budget deficits
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Release : 2017
Genre : Budget deficits
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis "Fiscal Space" and the Federal Budget by : Grant A. Driessen

Download or read book "Fiscal Space" and the Federal Budget written by Grant A. Driessen. This book was released on 2017. Available in PDF, EPUB and Kindle. Book excerpt:

Fiscal Space

2012-05-31 Business & Economics
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Release : 2012-05-31
Genre : Business & Economics
Kind : eBook
Book Rating : 671/5 ( reviews)

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Book Synopsis Fiscal Space by : Rathin Roy

Download or read book Fiscal Space written by Rathin Roy. This book was released on 2012-05-31. Available in PDF, EPUB and Kindle. Book excerpt: With the deadline for achieving the 2015 Millennium Development Goals (MDGs) less than a decade away, the uneven progress is raising important questions about the ability of the international community to 'scale up' its efforts to finance the goals. Securing adequate financing for development has thus become the most pressing issue of the development agenda. This groundbreaking volume, by leading development economists and practitioners, addresses the central concern for policymakers involved in long term planning for the MDGs: how to create 'fiscal space' for the MDGs and strengthen domestic resource mobilization for human development, while ensuring long-term sustainability and freedom from reliance on aid. By looking at the evidence with fresh perspectives, the authors present a novel approach by which fiscal policy can be made to work for the poor, for the long term. Published with UNDP and Revenue Watch.

Coordination of Monetary and Fiscal Policies

1998-03-01 Business & Economics
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Release : 1998-03-01
Genre : Business & Economics
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Book Rating : 239/5 ( reviews)

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Book Synopsis Coordination of Monetary and Fiscal Policies by : International Monetary Fund

Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund. This book was released on 1998-03-01. Available in PDF, EPUB and Kindle. Book excerpt: Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.

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