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Author: Mr.Alberto Alesina
Publisher: International Monetary Fund
ISBN: 1451960433
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary. We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Author: Mr.Alberto Alesina
Publisher: International Monetary Fund
ISBN: 1451960433
Category : Business & Economics
Languages : en
Pages : 52
Get Book
Book Description
This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary. We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Author: Alberto F. Alesina
Publisher:
ISBN:
Category :
Languages : en
Pages : 52
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Book Description
This paper studies how the composition of fiscal adjustments influences their likelihood of quot;successquot;, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary.We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.
Author: Barbara Fakin
Publisher: World Bank Publications
ISBN:
Category : Ajuste estructural
Languages : en
Pages : 38
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Book Description
Author: Daniel Leigh
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
The paper analyzes the determinants of success of recent fiscal consolidations in the OECD countries as well as the short-run and long-run effects of fiscal adjustments on economic activity by looking at fourteen case studies, panel data for OECD countries, and the results of simulations using a non-Ricardian multi-country dynamic general equilibrium model. The study finds that while fiscal consolidations tend to have short-run contractionary effects, they can be expansionary in the long run, provided that they do not rely excessively on cuts in productive government expenditure. They can also create positive spillover effects for the rest of the world.
Author: Mr.C. John McDermott
Publisher: International Monetary Fund
ISBN: 1451965958
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
This study uses the fiscal expansion and consolidation experiences of the industrial countries over the period 1970 to 1995 to examine the interplay between fiscal adjustments and economic performance. A key finding is that fiscal consolidation need not trigger an economic slowdown. Fiscal consolidation that concentrates on the expenditure side, and especially on transfers and government wages, is more likely to succeed in reducing the public debt ratio than tax-based consolidation. Also, the greater the magnitude of the fiscal consolidation, the more likely it is to succeed in reducing the debt ratio.
Author: Mr.Francesco Caselli
Publisher: International Monetary Fund
ISBN: 1451969260
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
Is there any systematic explanation of variations in the cost of debt servicing over time and across countries? This paper examines the influence of fiscal variables on borrowing costs in a panel of OECD countries, showing that these variables have a significant role. In particular, an improvement of the primary fiscal balance is associated with a significant reduction in debt-servicing costs, amplifying the effects of primary adjustment on the fiscal position. A significant country-specific component remains, however; several explanations for this component are discussed, including debt management and market infrastructure.
Author: Organisation for Economic Co-operation and Development
Publisher: Organisation for Economic Co-operation and Development ; [Washington, D.C. : OECD Publications and Information Centre
ISBN:
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
This report synthesises the annual country surveys on structural adjustments from 1984-1988 prepared by the OECD Economic and Development Review Committee, representing a contribution to the comparative analysis of structural change and adjustment.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264022082
Category :
Languages : en
Pages : 166
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Book Description
This volume discusses progress made to date in Argentina, Brazil, Chile and Mexico in putting their finances in order, and points out the challenges ahead.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264200169
Category :
Languages : en
Pages : 423
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Book Description
This publication analyses recent development in migration movements and policies in OECD countries and some non member countries including migration of highly qualified and low qualified workers, temporary and permanent, as well as students.
Author: MissCatriona Purfield
Publisher: International Monetary Fund
ISBN: 1451845472
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
In the 1990s, transition countries underwent large adjustments to address fiscal imbalances. This paper examines whether the factors identified in the literature on advanced economies, the size and composition of adjustment, are important in transition economies. It finds that larger consolidations were more successful in addressing fiscal imbalances on a durable basis. Policies focusing on expenditure reductions were more successful than those relying on revenue increases. There is little evidence of expansionary fiscal contractions, but fiscal contractions did not have a significantly negative impact on growth either. Few fiscal stimuli succeeded in boosting growth.
