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Public Spending Management and Macroeconomic Interdependence

Ganelli, Giovanni - International Monetary Fund (IMF) - 2004

relative output. In welfare terms, countries with a larger government sector have an incentive to promote public competition …

Persistent link: https://www.econbiz.de/10005768776

The Dominican Republic; Stabilization, Structural Reform, and Economic Growth

Cardoso, Jaime; Young, Philip M. - International Monetary Fund (IMF) - 2002

Persistent link: https://www.econbiz.de/10005590873

Fiscal Rules in a Volatile World; A Welfare-Based Approach

Restrepo, Jorge; Garcia, Carlos; Tanner, Evan - International Monetary Fund (IMF) - 2011

It is widely agreed that a fiscal rule should boost discipline and credibility, reduce macroeconomic volatility, and be easily understood. To support such goals, a government may run structural surpluses and accumulate a precautionary cushion of assets on behalf of agents who do not enjoy access...

Persistent link: https://www.econbiz.de/10008876585

Trade Costs, Market Integration, and Macroeconomic Volatility

Naknoi, Kanda; Brunner, Allan D. - International Monetary Fund (IMF) - 2003

This paper examines the effects of trade costs on macroeconomic volatility. We first construct a dynamic, two-country general equilibrium model, where the degree of market integration depends directly on trade costs (transport costs, tariffs, etc.). The model is a extension of Obstfeld and...

Persistent link: https://www.econbiz.de/10005769265

Mauritius; 2003 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

International Monetary Fund (IMF); International … - 2003

The Mauritian economy showed strong performance owing to its sound macroeconomic policies. Executive Directors emphasized the need to remain competitive and address the growing unemployment problem. They commended the efforts to support the developments in financial services, free port...

Persistent link: https://www.econbiz.de/10005599096

Operational Aspects of Fiscal Policy in Oil-Producing Countries

Barnett, Steven; Ossowski, Rolando - International Monetary Fund (IMF) - 2002

Oil-producing countries face challenges arising from the fact that oil revenue is exhaustible, volatile, and uncertain, and largely originates from abroad. Reflecting these challenges, the paper proposes some important general principles for the formulation and assessment of fiscal policy in...

Persistent link: https://www.econbiz.de/10005264109

Improving Surveillance Across the Cemac Region

Iossifov, Plamen; Takebe, Misa; Zhan, Zaijin; … - International Monetary Fund (IMF) - 2009

In this paper, we consider the design of the surveillance, and, in particular, the fiscal criteria in the Central African Economic and Monetary Community (CEMAC) with the view to ensuring they are consistent with internal and external sustainability. This consistency is important within a...

Persistent link: https://www.econbiz.de/10008497617

Tariff-Tax Reforms in Large Economies

Tervala, Juha; Ganelli, Giovanni - International Monetary Fund (IMF) - 2012

can reduce domestic welfare. The reason is that the increase in developing countries welfare due to higher output is … dominated by the welfare losses stemming from the deterioration of the terms of trade. On the other hand, the reform increases … output and welfare in the advanced countries and in the world as a whole. The effects that we highlight have not been studied …

Persistent link: https://www.econbiz.de/10010790310

Expenditure Composition, Fiscal Adjustment, and Growth in Low-Income Countries

Clements, Benedict J.; Gupta, Sanjeev; Baldacci, Emanuele; … - International Monetary Fund (IMF) - 2002

This paper assesses the effects of expenditure composition as well as fiscal adjustment on economic growth in a sample of 39 low-income countries during the 1990s. The paper finds that strong budgetary positions and fiscal consolidation are generally associated with higher economic growth in...

Persistent link: https://www.econbiz.de/10005264087

Fiscal Implications of the Global Economic and Financial Crisis

International Monetary Fund (IMF); International … - 2009

The economic and financial crisis is affecting the fiscal accounts of virtually every country. Public sector support for the financial system, fiscal stimulus and the automatic stabilizers, as well as the revenue decline from the downturn in commodity and asset prices, are leading to sharp...

Persistent link: https://www.econbiz.de/10010790494