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Fiscal policy approaches : an inquiring look from the odern Monetary Theory

Garzón Espinosa, Eduardo; Medialdea García, Bibiana; … - In: Journal of economic issues 55 (2021) 4, pp. 999-1022

Persistent link: https://www.econbiz.de/10012804342

The debt brake in the eyes of the German population

Hayo, Bernd; Neumeier, Florian - 2014 - This version: 23 June 2014

fill this gap, we conducted a survey among 2,000 representatively chosen German citizens. Our findings suggest that 61% of …

Persistent link: https://www.econbiz.de/10010386575

What Determines the Implementation of IMF-Supported Programs?

Mourmouras, Alex; Ivanova, Anna; Anayotos, George C.; … - International Monetary Fund (IMF) - 2003

with conditionality, and the share of committed funds disbursed. The econometric model allows an evaluation of the … importance for program implementation of political conditions in borrowing countries, IMF effort, conditionality, as well as … cohesion, and ethno-linguistic divisions weaken program implementation. IMF effort, the extent and structure of conditionality …

Persistent link: https://www.econbiz.de/10005605139

Generational Accounting as a Tool to Assess Fiscal Sustainability: An Overview of the Methodology

Bonin, Holger; Patxot, Concepció - 2004

The paper surveys the methodology of generational accounting, a tool for gauging intertemporal imbalance in government finances facing demographic transition. Starting from the fiscal balance rule providing the theoretical background, we review the methods of generational accountants for...

Persistent link: https://www.econbiz.de/10010261763

Structural Breaks in Fiscal Performance; Did Fiscal Responsibility Laws Have Anything to Do with them?

Medina, Leandro; Caceres, Carlos; Corbacho, Ana - International Monetary Fund (IMF) - 2010

In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically...

Persistent link: https://www.econbiz.de/10008727801

Government Spending, Legislature Size, and the Executive Veto

Baqir, Reza - International Monetary Fund (IMF) - 2001

Recent work on the political economy of fiscal policy has asked how budgetary institutions affect fiscal outcomes. But what determines the budgetary institutions? In this paper I consider one such institution: the executive veto. A simple theoretical framework predicts that jurisdictions with...

Persistent link: https://www.econbiz.de/10005768732

Guarding Against Fiscal Risks in Hong Kong SAR

International Monetary Fund (IMF); International … - 2007

Hong Kong SAR's government faces the dual challenges of volatile revenue and medium term spending pressures arising from a rapidly aging population. Age-related spending pressures raise long-run sustainability concerns, while revenue volatility creates risks to service provision, possibly...

Persistent link: https://www.econbiz.de/10005599716

Politically Optimal Fiscal Policy

Yakadina, Irina; Kumhof, Michael - International Monetary Fund (IMF) - 2007

Why do governments issue large amounts of debt? In what sense and for whom is such a policy optimal? We show that twisting the optimal taxation paradigm produces very reasonable predictions for debt and real interest rates. Adding an extra dimension of uncertainty about the political planning...

Persistent link: https://www.econbiz.de/10005599742

The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy; An Application of the Structural Error Correction Model

Konuki, Tetsuya - International Monetary Fund (IMF) - 2000

This paper empirically analyzes the short-run effects of monetary and fiscal policy on aggregate demand, using the two-step structural error correction method. This method has an advantage over the standard reduced-form error correction method in providing a meaningful interpretation for impulse...

Persistent link: https://www.econbiz.de/10005605392

Natural Resource Endowments, Governance, and the Domestic Revenueeffort; Evidence From a Panel of Countries

Thornton, John; Bornhorst, Fabian; Gupta, Sanjeev - International Monetary Fund (IMF) - 2008

The recent development literature stresses that countries that receive large revenues from natural resource endowments typically raise less revenue from domestic taxation, and that this creates governance problems because the lower domestic tax effort reduces the incentive for the public...

Persistent link: https://www.econbiz.de/10005825627