Search Results - subject:"Budget constraints"

Implications of Quasi-Fiscal Activities in Ghana

Chivakul, Mali; York, Robert C. - International Monetary Fund (IMF) - 2006

This paper assesses the scope and coverage of quasi-fiscal activities (QFAs) in Ghana. We find that while QFAs have been reduced recently, they remain significant. The extensive nature of these activities has several macroeconomic and structural policy implications. An extended measure of public...

Persistent link: https://www.econbiz.de/10005605306

Sustaining Latin America's Resurgence; Some Historical Perspectives

Singh, Anoop; Cerisola, Martin D. - International Monetary Fund (IMF) - 2006

This paper looks at the historical lessons that might serve to entrech Latin America's newly resurgent growth phase. It briefly reviews the post-World War II experiences in Latin America and Asia, focusing on the conditions that favored capital accumulation and productivity growth in the faster...

Persistent link: https://www.econbiz.de/10005825672

Credit Flows, Fiscal Policy, and the External Deficit of Bosnia and Herzegovina

Kanda, Daniel - International Monetary Fund (IMF) - 2006

This paper develops and estimates a model of the trade balance of Bosnia and Herzegovina. Credit flows and the fiscal stance are found to play a significant role in determining the trade balance. On this basis the paper discusses the trade-offs between monetary and fiscal policy settings needed...

Persistent link: https://www.econbiz.de/10005826416

Can Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses

Rochon, Céline; Feltenstein, Andrew - International Monetary Fund (IMF) - 2006

In this paper, we study the impact of labor market restructuring and foreign direct investment on the banking sector, using a dynamic general equilibrium model with a financial sector. Numerical simulations are performed using stylized Chinese data, and banks failures are generated through...

Persistent link: https://www.econbiz.de/10005826477

Probabilistic Sustainability of Public Debt; A Vector Autoregression Approach for Brazil, Mexico, and Turkey

Tanner, Evan; Samaké, Issouf - International Monetary Fund (IMF) - 2006

This paper examines the sustainability of fiscal policy under uncertainty in three emerging market countries, Brazil, Mexico, and Turkey. For each country, we estimate a vector autoregression (VAR) that includes fiscal and macroeconomic variables. Retrospectively, a historical decomposition...

Persistent link: https://www.econbiz.de/10005826558

Budget-Constrained Sequential Auctions with Incomplete Information

Pitchik, Carolyn - University of Toronto, Department of Economics - 2006

I study a budget-constrained, private-valuation, sealed-bid sequential auction with two incompletely-informed, risk-neutral bidders in which the valuations and income may be non-monotonic functions of a bidder\\'s type. Parameters permit the existence of multiple equilibrium symmetric bidding...

Persistent link: https://www.econbiz.de/10005827215

Auction with aftermarket for budget constrained bidders

Masili, Gustavo - Volkswirtschaftliche Fakultät, … - 2006

The paper compares different auction formats for sale of a single patented innovation for budget constrained bidders. This unit decreases the marginal cost of production in the aftermarket for its owner by an amount which depends on the money invested on the development of this technology. As...

Persistent link: https://www.econbiz.de/10005835499

Fiscal Federalism in Russia: Soft Budget Constraints of Regional Governments

Sinelnikov, Sergey; Kadochnikov, Pavel; Trunin, Ilya; … - Gaidar Institute for Economic Policy - 2006

designed to prevent the emergence of soft budget constraints imposed on subnational authorities in a situation of fiscal … hypotheses concerning the existence of soft budget constraints in the regions of the Russian Federation are empirically tested. …

Persistent link: https://www.econbiz.de/10010595483

Forbearance lending and soft budget constraints in a model of multiple heterogeneous bank financing

Schüle, Tobias - Wirtschaftswissenschaftlichen Fakultät, … - 2006

writing of their non-performing loans. Such forbearance lending may induce soft budget constraints for the debtors, as it … relationship bank affects the incidence of forbearance lending and soft budget constraints by signaling its credit decision to … lending and infuences the conditions under which debtors face soft budget constraints. …

Persistent link: https://www.econbiz.de/10009149245

Former Yugoslav Republic of Macedonia; Report on Observance of Standards and Codes: Fiscal Transparency Module

International Monetary Fund (IMF); International … - 2006

This report summarizes the Observance of Standards and Codes on Fiscal Transparency for the Former Yugoslav Republic of Macedonia. It provides an assessment of fiscal transparency practices in the Former Yugoslav Republic (FYR) of Macedonia in relation to the requirements of the IMF Code of Good...

Persistent link: https://www.econbiz.de/10011244381