Search Results - subject:"Budget constraint"

The Challenge of Fiscal Adjustment in a Democracy; The Case of India

Hausmann, Ricardo; Purfield, Catriona - International Monetary Fund (IMF) - 2004

India's fiscal problem has deep roots in its federal fiscal system, where multiple players find it difficult to coordinate adjustment. The size and closed nature of the Indian economy, aided by its deep domestic capital market and large captive pool of domestic savings, has disguised the cost of...

Persistent link: https://www.econbiz.de/10005604857

The Decentralization Dilemma in India

Purfield, Catriona - International Monetary Fund (IMF) - 2004

Already in precarious shape, the financial health of India’s states took a turn for the worse in the late 1990s when state deficits and debt rose sharply. While India is among the world’s most decentralized economies, greater decentralization is not the root cause of this situation. Panel...

Persistent link: https://www.econbiz.de/10005605318

Belgium; 2003 Article IV Consultationâ€”Staff Report; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2004

Long-term issues continue to dominate the economic policy agenda. The economy is expected to grow at a moderate pace. The challenge from aging is becoming more pressing, calling for sustained fiscal consolidation. The elaboration of a medium-term fiscal framework based on expenditure growth...

Persistent link: https://www.econbiz.de/10005825326

Fiscal Sustainability; The Case of Eritrea

Yamauchi, Ayumu - International Monetary Fund (IMF) - 2004

The paper examines fiscal sustainability issues for the case of Eritrea but has wider implications for addressing fiscal and debt sustainability. It begins with a formal definition and explanation of analytical sustainability indicators, followed by an assessment of the causes of fiscal deficits...

Persistent link: https://www.econbiz.de/10005826168

Corporate Rent-Seeking and the managerial soft-budget constraint

Apreda, Rodolfo - Universidad del CEMA - 2004

-seeking and the soft-budget constraint, so as to bring forth a strong linkage with corporate governance environments. It will …. Firstly, it claims that both rent-seeking behavior and the soft-budget constraint are worthy of being applied to corporate …. Thirdly, it is shown how conflicts of interest underlie rent-seeking behavior, and how the latter relates to the soft-budget …

Persistent link: https://www.econbiz.de/10005168906

Fiscal Adjustment in Eu Countries; A Balance Sheet Approach

Moriyama, Kenji; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2004

Several European Union countries have recently implemented or are envisaging fiscal that operations improve budgetary figures but have no structural impact on government finances. This paper evaluates some of these measures using a balance sheet approach. In particular, it examines the degree to...

Persistent link: https://www.econbiz.de/10005253008