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Simple, Implementable Fiscal Policy Rules

Kumhof, Michael; Laxton, Douglas - International Monetary Fund (IMF) - 2009

This paper analyzes the scope for systematic rules-based fiscal activism in open economies. Relative to a balanced budget rule, automatic stabilizers significantly improve welfare. But they minimize fiscal instrument volatility rather than business cycle volatility. A more aggressively...

Persistent link: https://www.econbiz.de/10004999963

Productivity Trends in India's Manufacturing Sectors in the Last Two Decades

Unel, Bulent - International Monetary Fund (IMF) - 2003

's (registered) manufacturing sectors during the 1980s and 1990s. The main findings of the paper are (i) labor and total factor … productivity (TFP) growth in total manufacturing and many of the component sectors since 1980 were markedly higher than that in the … manufacturing as well as for many subsectors picked up further after the 1991 reforms; and (iii) classification of the best …

Persistent link: https://www.econbiz.de/10005599517