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Macroeconomic uncertainties, prudent debt targets and fiscal rules

Fall, Falilou; Fournier, Jean-Marc - 2015

The sharp rise in debt experienced by most OECD countries raises questions about the prudent debt level countries should target. It also raises questions about the fiscal frameworks needed to reach them and to accommodate cyclical fluctuations along the path towards a prudent debt target. The...

Persistent link: https://www.econbiz.de/10011399529

Trends in public finance : insights from a new detailed dataset

Bloch, Debra; Fournier, Jean-Marc; Gonçalves, Duarte; … - 2016

To investigate how public finances could best be designed to promote long-run growth and address inequality, it is essential to have comprehensive, cross-country comparable data on government spending and revenues, along with structural and policy indicators. By identifying key variables of...

Persistent link: https://www.econbiz.de/10011578193

Reducing macroeconomic imbalances in Turkey

Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Erdoğan … - 2014

Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...

Persistent link: https://www.econbiz.de/10010464946

The fiscal projection framework in long-term scenarios

Guillemette, Yvan; Turner, David - 2017

The paper describes the fiscal framework used in long-term economic scenarios, with some emphasis on revisions made since the 2013 vintage of the long-term model. Long-term projections for public spending on pensions, health and long-term care are now separate from other primary expenditure and...

Persistent link: https://www.econbiz.de/10011823641

The deterioration of the public spending mix during the global financial crisis : insights from new indicators

Bloch, Debra; Fournier, Jean-Marc - 2018

New indicators measuring the effects of public spending on inclusive growth have been constructed using recent empirical work by Fournier and Johansson (2016) and a recent public finance dataset (Bloch et al., 2016). A first set of indicators combines information on the mix of public spending....

Persistent link: https://www.econbiz.de/10011914165

Limits to government debt sustainability

Fournier, Jean-Marc; Fall, Falilou - 2015

The recent euro area sovereign debt crisis has shown the importance of market reactions for the sustainability of debt. The objective of this paper is to calculate endogenous government debt limits given the markets assessment of the probability to default. The estimated primary balance reaction...

Persistent link: https://www.econbiz.de/10011399483

Fiscal constitutions : an empirical assessment

Blöchliger, Hansjörg; Kantorowicz, Jaroslaw - 2015

Fiscal constitutions comprise the set of rules and frameworks guiding fiscal policy that are enshrined in a country’s fundamental laws. This paper compares the fiscal constitutions of 15 federal countries by empirically assessing five building blocks: 1) the power of sub-national governments...

Persistent link: https://www.econbiz.de/10011399580

Russia : progress in structural reform and framework conditions 2011 - 13

Vaziakova, Yana - 2015

Since 1995 when OECD began conducting Economic Surveys of the Russian Federation many policy recommendations relating to structural reform and framework conditions have been made. This paper is an update of an earlier paper that described actions taken up to October 2011 (Vaziakova et al.,...

Persistent link: https://www.econbiz.de/10011399592

Improving public sector efficiency for more inclusive growth in Latvia

Klein, Caroline; Price, Robert W. - 2015

to achieve convergence of policy outcomes to OECD upper standards is challenging. Efficiency gains in the tax system … could bring additional revenues. The tax base should be expanded by reducing informality, strengthening tax administration … unemployment and income inequality, the tax-benefit system should also be revised as it is now relatively regressive and the tax …

Persistent link: https://www.econbiz.de/10011399630

Europe's new fiscal rules

Barnes, Sebastian; Davidsson, David; Rawdanowicz, Łukasz - 2012

Europe is putting in place a new system of fiscal rules following the euro area sovereign debt crisis and decades of rising government to debt-to-GDP ratios. These include the so-called “six pack” to upgrade the Stability and Growth Pact to a new Treaty incorporating the “fiscal...

Persistent link: https://www.econbiz.de/10009690998