Fiscal Adjustments in OECD Countries PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Fiscal Adjustments in OECD Countries PDF full book. Access full book title Fiscal Adjustments in OECD Countries by Mr.Alberto Alesina. Download full books in PDF and EPUB format.
Author: Mr.Alberto Alesina
Publisher: International Monetary Fund
ISBN: 1451960433
Category : Business & Economics
Languages : en
Pages : 52
Get Book Here
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 Here
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
Get Book Here
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: Alberto Alesina
Publisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 56
Get Book Here
Book Description
This paper considers budget expansions and adjustments in OECD countries in the last three decades. Our main results are: i) on average fiscal expansions are the results of increases in expenditures, particularly of transfer programs, while contractions are typically due to tax increases; ii) however successful (i.e. long lasting), a minority of the total rely primarily on reduction of government wages and employment and cuts in transfer programs; iii) even major successful fiscal adjustments do not seem to have recessionary consequences, on average; iv) different types of governments show different degrees of success at implementing successful fiscal adjustment, with coalition governments showing the worst performance.
Author: Barbara Fakin
Publisher: World Bank Publications
ISBN:
Category : Ajuste estructural
Languages : en
Pages : 38
Get Book Here
Book Description
Author: Alberto Alesina
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
Get Book Here
Book Description
Author: Daniel Leigh
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 44
Get Book Here
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: OECD
Publisher: OECD Publishing
ISBN: 9264438181
Category :
Languages : en
Pages : 651
Get Book Here
Book Description
This annual publication provides details of taxes paid on wages in OECD countries. It covers personal income taxes and social security contributions paid by employees, social security contributions and payroll taxes paid by employers, and cash benefits received by workers. Taxing Wages 2021 includes a special feature entitled: “Impact of COVID-19 on the Tax Wedge in OECD Countries”.
Author: Mr.C. John McDermott
Publisher: International Monetary Fund
ISBN: 1451965958
Category : Business & Economics
Languages : en
Pages : 26
Get Book Here
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: Athanasios Tagkalakis
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
Get Book Here
Book Description
This paper analyzes the factors that determine the likelihood to initiate a fiscal adjustment, as well as the determinants of successful fiscal adjustments in a set of OECD countries. Its focus is different relative to previous studies, because it investigates the role played by labor and product market institutions. The study finds that while factors such as bad initial budgetary conditions, exchange rate depreciation, and the size and composition effects of the fiscal adjustment play an important role, institutional characteristics of the labor and product markets affect in a significant manner the decision of a government to initiate a fiscal consolidation program, and the likelihood that this program will be successful. This finding becomes particularly relevant in view of the challenges faced by many countries, which strive to achieve lasting improvements in their budgetary positions, while at the same time they have to put forward ambitious structural reforms programs to enhance their potential growth performance and to improve the functioning of the internal market.
Author: Mr.Francesco Caselli
Publisher: International Monetary Fund
ISBN: 1451969260
Category : Business & Economics
Languages : en
Pages : 23
Get Book Here
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.
