A modern history of fiscal prudence and profligacy

Paolo Mauro; Rafael Romeu; Ariel Binder; Asad Zaman

We draw on a newly collected historical dataset of fiscal variables for a large panel of countries?to our knowledge, the most comprehensive database currently available?to gauge the degree of fiscal prudence or profligacy for each country over the past several decades. Specifically, our dataset consists of fiscal revenues, primary expenditures, the interest bill (and thus both the primary and the overall fiscal deficit), the government debt, and gross domestic product, for 55 countries for up to two hundred years. For the first time, a large cross country historical data set covers both fiscal

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Year of publication:	2013
Authors:	Mauro, Paolo ; Romeu, Rafael ; Binder, Ariel ; Zaman, Asad
Publisher:	Washington, DC : IMF
Subject:	Finanzverfassung \| Fiscal constitution \| Finanzpolitik \| Fiscal policy \| Öffentliche Schulden \| Public debt \| Haushaltsdefizit \| Budget deficit \| Wirtschaftswachstum \| Economic growth \| 1800-2011

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Extent:	Online-Ressource (52 S.) graph. Darst.
Series:	IMF working papers. - Washington, DC : IMF, ZDB-ID 2108494-4. - Vol. 13/5
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	"Fiscal Affairs Department "January 2013 Includes bibliographical references Systemvoraussetzungen: Acrobat Reader Cover; Contents; I. Introduction; II. Data Sources and Basic Statistics; A. Data Sources for Fiscal and Other Macroeconomic Variables; B. Summary Statistics for Main Fiscal Aggregates; C. Data Sources for Other Variables; III. Measuring Fiscal Prudence/Profligacy; A. Bohn's Fiscal Reaction Function and Policymakers' Criterion; B. Methods to Gauge Variation in Prudence/Profligacy Over Time; C. The Drivers of Changes in Fiscal Prudence/Profligacy; IV. Estimates of Fiscal Prudence/Profligacy; A. Bohn (1998) Tests for Whole Sample Periods and Long Sub-Samples, Individual Countries B. Structural BreaksC. Search for Influential Observations; D. Rolling (Fixed-Length) Windows and Increasing Sample Periods; E. Summarizing the Historical Assessment of Prudence and Profligacy; V. The Drivers of Changes in Fiscal Prudence/Profligacy; VI. Conclusion; Tables; 1. Country Coverage of Main Variables in this Study; 2. Summary Statistics for Full Sample (1800 - 2011); 3. Summary Statistics for Post-WWII (1950-2011); 4. Summary Statistics for Advanced Economies; 5. Decomposition of Variance of Debt Changes, Advanced Economies (1950-2011) 6. Decomposition of Variance of Debt Changes, Emerging Economies (1950-2011)7. Bohn (1998) Test for Fiscal Policy Sustainability; 8. Bohn Regression Results Iterated Over Twenty-Five Year Rolling Windows; 9. Bohn (1998) Fiscal Reaction Function with Expanding Sample; 10. Structural Breaks in Bohn (1998) Sustainability Test, Post-War; 11. Structural Breaks in Bohn (1998) Sustainability Test, Full Sample; 12. Influential Years in Recursive Bohn (1998) Test; 13. Times of Strong Prudence and Profligacy; 14. Panel Results, Fiscal Response as a Function of Growth and Borrowing Costs; Figures 1. Government Debt and Primary Fiscal Balance, 1850-2011, in percent of GDP2. Fiscal Variables (Top Chart) and Rolling Regression Results for Japan, 1875-2011; 3. Periods of Prudence and Profligacy, 1800-2011; 4. Periods of Prudence and Profligacy, 1850-2011; 5. Periods of Prudence and Profligacy, 1850-2011; 6. Periods of Prudence and Profligacy, 1880-2011; 7. Periods of Prudence and Profligacy, 1880-2011; 8. Periods of Prudence and Profligacy, 1900-2011; 9. Periods of Prudence and Profligacy, 1900-2011; 10. Periods of Prudence and Profligacy, 1950-2011 11. Periods of Prudence and Profligacy, 1960-2011References Electronic reproduction; Available via World Wide Web
ISBN:	978-1-61635-782-5 ; 978-1-61635-877-8 ; 1-4755-7017-1 ; 978-1-4755-7017-5
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009706764