Download or read book Chipping Away at Public Debt written by Paolo Mauro and published by John Wiley & Sons. This book was released on 2011-06-17 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Path-breaking research on one of the most important macroeconomic policy challenges in the post-crisis world, presented in accessible language Written and researched by a team of experts from the International Monetary Fund, other policy-making institutions, and academia, this timely book looks at fiscal adjustment plans in advanced economies, comparing the planned or projected reductions in debts and deficits to the actual outcomes, and explaining why objectives were met in some cases but missed in others. An overview reveals pitfalls to avoid and lessons learned for securing successful fiscal adjustment. Written by experts in the field Addresses public concern about skyrocketing government debts Contains cutting edge research that changes the way we look at fiscal adjustment Presents meticulous archival research in compelling and engaging case studies Explores lessons learned and policy implications going forward Includes country coverage of all G7 and European Union economies Educating and informing investors, economists, and the general public, this important book looks at why some attempts to curb debts and deficits succeed whereas others fail, as well as how to ensure successful fiscal adjustment in the period ahead.

Download or read book How Ottawa Spends 2013 2014 written by Christopher Stoney and published by McGill-Queen's Press - MQUP. This book was released on 2013-09-01 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2013-14 edition of How Ottawa Spends critically examines national politics, priorities, and policies with a close lens on Stephen Harper's Conservative party during the middle of their first term as a majority. Contributors from across Canada examine the federal government and its not uncommon mid-term problems but also its considerable agenda of long term plans, both set in the midst of national economic fragility and a global fiscal and debt crisis. Individual chapters examine several related political, policy, and spending realms including the Budget Action Plan, the ten year Canada Health Transfer Plan, the Canada Pension Plan, and Old Age Security reforms. The contributors also consider austerity related public sector downsizing and strategic spending reviews, national energy, and related environmental strategies, and the growing Harper practice of "one-off" federalism.

Download or read book Publications Catalog Fall 2014 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-09-25 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an overview of the book Collapse and Revival: Understanding Global Recessions and Recoveries that tracks the global business cycle through the destruction of a global recession to the renewal of recovery, drawing on four major episodes during the past half century. This book defines the terms of global recessions and recoveries; documents their main features; describes the events that take place around these episodes; puts the latest global recession and ongoing recovery in perspective; and analyzes the interactions between fluctuations in the global growth and national growth over the different phases of the global cycle.

Download or read book Public Finance An International Perspective written by Joshua E Greene and published by World Scientific Publishing Company. This book was released on 2011-12-13 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book expands on issues like fiscal sustainability, state enterprises and the variety of subsidies, with a multi-country focus. Drawing examples from numerous countries, it presents issues in contemporary finance and especially fiscal policy that can benefit researchers and civil servants from both developed, as well as developing worlds and emerging market economies.Written in a simple and accessible manner, this book will be of interest to civil servants and practitioners. It also serves as a reference source for students and academics, and can be used as a textbook for advanced courses on public finance.

Download or read book Fiscal Crises written by Mrs.Kerstin Gerling and published by International Monetary Fund. This book was released on 2017-04-03 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key objective of fiscal policy is to maintain sustainability of public finances and avoid crises. Remarkably, there is very limited analysis on fiscal crises. This paper presents a new database of fiscal crises covering different country groups, including low-income developing countries (LIDCs) that have been mostly ignored in the past. Countries faced on average two crises since 1970, with the highest frequency in LIDCs and lowest in advanced economies. The data sheds some light on policies and economic dynamics around crises. LIDCs, which are usually seen as more vulnerable to shocks, appear to suffer the least in crisis periods. Suprisingly, advanced economies face greater turbulence (growth declines sharply in the first two years of the crisis), with half of them experiencing economic contractions. Fiscal policy is usually procyclical as countries curtail expenditure growth when economic activity weakens. We also find that the decline in economic growth is magnified if accompanied by a financial crisis.

Download or read book Post crisis Fiscal Policy written by Carlo Cottarelli and published by MIT Press. This book was released on 2014-06-27 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appropriate response to fluctuations in economic activity. Since then, the IMF has emphasized that the speed of fiscal adjustment should be determined by the specific circumstances in each country. Its recommendation that deficit reduction proceed steadily, but gradually, positions the IMF between the fiscal doves (who argue for postponing fiscal adjustment altogether) and the fiscal hawks (who argue for a front-loaded adjustment). This volume brings together the analysis underpinning the IMF's position on the evolving role of fiscal policy. After establishing its analytical foundation, with chapters on such topics as fiscal risk and debt dynamics, the book analyzes the buildup of fiscal vulnerabilities before the crisis, presents the policy response during the crisis, discusses the fiscal outlook and policy challenges ahead, and offers lessons learned from the crisis and its aftermath. Topics discussed include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool; coordination of fiscal and monetary policies; the sovereign debt crisis in Europe; and institutional reform aimed at fostering fiscal discipline."--Publisher's description.

Download or read book IMF Publications Catalog Spring 2017 written by International Monetary Fund. Communications Department and published by International Monetary Fund. This book was released on 2017-04-05 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spring 2017 IMF Publications Catalog highlights all new and forthcoming publications from the IMF, in addition to key titles in the IMF collection.

Download or read book Germany written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-07-12 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Germany’s economic growth and recovery from the global crisis are explained in this study. Tax, education, and innovation policies are specific measures supported by the authorities. External and financial shocks received by Germany and other outward spillovers are outlined. Germany has a high current account and international assets. From a long-term perspective, rebalancing of public finances to promote growth is desirable. Stress tests are conducted to confirm the capital buffers. Finally, the banking system of Germany reflects significant policy measures and economic recovery.

Download or read book Public Debt as a Form of Public Finance written by Richard E. Wagner and published by Cambridge University Press. This book was released on 2019-05-30 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.

Download or read book The Fiscal Stance in Japan A Model based Analysis written by Jean-Marc Fournier and published by International Monetary Fund. This book was released on 2022-08-19 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses Japan’s fiscal stance in the past and the future with a stochastic structural model called the Buffer-Stock Model of the Government. Our retrospective analysis suggests that the fiscal stance in the 1990s and the early 2000s was overall looser than the model recommendations. As for the future, the model advises the near-term fiscal policy to be supportive with a view to narrowing the output gap and minimizing hysteresis, while recommending a fiscal consolidation over the medium-term at a gradual pace.

Download or read book Fiscal Monitor October 2013 written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2013-10-09 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Persistently high debt ratios in advanced economies and emerging fragilities in the developing world cast clouds on the global fiscal landscape. In advanced economies, with narrowing budget deficits, the average public debt ratio is expected to stabilize in 2013–14—but it will be at a historic peak. At the same time, fiscal vulnerabilities are on the rise in emerging market economies and low-income countries—on the back, in emerging market economies, of heightened financial volatility and downward revisions to potential growth, and in low-income countries, of possible shortfalls in commodity prices and aid. Strengthening fiscal balances and buttressing confidence thus remain at the top of the policy agenda. Against that backdrop, this issue explores whether and how tax reform can help strengthen public finances. Taxation is always a sensitive topic and is now more than ever at the center of policy debates around the world. Can countries tax more, better, more fairly? Results reported in this issue show that the scope to raise more revenue is limited in many advanced economies and, where tax ratios are already high, the bulk of the necessary adjustment will have to fall on spending. In emerging market economies and low-income countries, where the potential for raising revenue is often substantial, improving compliance remains a central challenge.

Download or read book IMF Publications Catalog Fall Winter 2018 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2018-09-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on several IMF publications published in the winter of year 2018. Realizing Indonesia’s Economic Potential book uncovers some of the forces that are likely to shape Indonesia’s economy. It analyses the constraints to growth, propose options to boost economic growth, and explore key issues policymakers will need to handle in the future. The ASEAN Way: Sustaining Growth and Stability book provides a comprehensive account of how Association of Southeast Asian Nations, its individual members and as a group, rose above its worst regional financial crisis 20 years ago, to become one of the most resilient in the face of the worst global financial crisis just a decade later. The challenges faced and the policy responses taken, chronicled and analyzed in this study, can hopefully provide further lessons as we face a new global policy paradigm. It is a must-read for academics, the financial community, and policymakers alike.

Download or read book Government Budgeting and Expenditure Management written by Salvatore Schiavo-Campo and published by Routledge. This book was released on 2017-02-17 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: The government budget should be the financial mirror of society's choices. Yet most people view budgeting as the epitome of eye-glazing subjects, rarely explained in a way that is understandable to the non-specialist and too often presented without adequate consideration of a country’s governance and institutional capacity. Government Budgeting and Expenditure Management fills a gap in the literature to redress these failings and does so in comparative international perspective. This book provides a comprehensive but pithy and easy-to-understand treatment of public financial management, taking into account a variety of special issues including budgeting in post-conflict situations, at subnational government levels, for military/security expenditures, and in countries with large extractive revenues. Distilling the lessons of budgeting reform in countries at different levels of income and administrative capacity, each chapter gradually progresses from the basic principles to the more technical aspects and then on to implementation issues, using concrete examples and illustrations from around the globe. Government Budgeting and Expenditure Management is ideally suited as the primary text for advanced undergraduate or graduate courses in government budgeting or public financial management, or as a supplementary text for courses in public finance, public economics, economic development, public administration or comparative politics. With its attention to practical implementation aspects, the book will also be of direct interest to practitioners, policy-makers, and government employee training organizations.

Download or read book Fiscal Monitor April 2012 written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-04-17 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overall, fiscal risks remain elevated, according to this issue, although there are signs that in some key respects they are less acute than six months ago. Past efforts with fiscal consolidation are beginning to bear fruit, particularly when buttressed by credible institutional commitments. Nevertheless, debt ratios in many advanced economies are at historical levels and rising, borrowing requirements remain very large, financial markets continue to be in a state of alert, and downside risks to the global economy predominate. In this uncertain environment, the challenge for fiscal policy is to find the right balance between exploiting short-term space to support the fragile recovery and rebuilding longer-term space by advancing fiscal consolidation. Against that background, this issue examines in more detail the concept of fiscal space, or the scope that policymakers have to calibrate the pace of fiscal adjustment without undermining fiscal sustainability. A number of conclusions emerge in regard to countries ongoing vulnerability to unexpected shocks, the potential for substantial negative impacts of fiscal adjustment on activity, possible overstatements of short-term pressures on the public finances in some countries as general government gross debt ratios have risen, the implications of countries having flexibility in the short term but not the longer term, and the monitoring and enforcement challenges raised by second-generation fiscal rules.

Download or read book Review of the Flexible Credit Line the Precautionary and Liquidity Line and the Rapid Financing Instrument written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-01-28 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review of the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Rapid Financing Instrument (RFI) focuses on four key issues: (i) the demand for the FCL and PLL in the context of the broader role of the Fund’s lending (including precautionary) instruments in the global financial safety net (GFSN); (ii) the qualification/conditionality framework for the FCL and the PLL; (iii) concerns about repeated usage of FCL arrangements by the same members and consideration of ways to further improve the transparency in the discussion of access/exit in the underlying staff documents; and (iv) the lack of demand for the RFI.

Download or read book Fiscal Consolidation in the Euro Crisis written by Kai Guthmann and published by Springer Nature. This book was released on 2020-09-12 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds new light on if and why, between 2009 and 2015, European governments succeeded or failed in initiating and actually realizing some of the farthest-reaching austerity plans in modern history. The author analyzes the economic and political context and the underlying causes of austerity and economic adjustment packages during the Euro crisis. In doing so, he shows that austerity has its roots in an institutional mismatch between capitalist diversity in the Eurozone on the one hand, and an ill-conceived common economic regime on the other. In this context, austerity trumped politics, and even democracy itself. The book will appeal to scholars of political science and comparative political economy, as well as governmental policymakers and practitioners in the finance sector.

Download or read book Moving Beyond the Crisis Reclaiming and Reaffirming our Common Administrative Space written by Demetrios Argyriades and published by Primento. This book was released on 2013-03-14 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the financial meltdown and the economic crisis in their fifth year already no one can any longer be in doubt about their exceptional gravity, their truly global impact and their profound effects hurting vulnerable groups and the very poor especially. As the world looks for an exit from this economic crisis – the worst in eight decades – the focus of attention is naturally on the causes, the factors that account for its wide reach and severity, as well as on strategies that might bring it to a closure. The quest for exit strategies is at the very centre of the issues and concerns explored in the present volume, produced by the IIAS. Like the preceding volumes, but even more emphatically, this volume, representing a collective endeavour of scholars and practitioners from many parts of the globe, finds cause to lay the blame, for our difficult predicament, on the institutional deficit, the policies, the practices and values that have followed in the trail of a highly misleading and erroneous model of governance. The «Market Model of Governance» as it is known, sought to reform, the structures and culture of administration and government in private sector ways. While instrumental values like efficiency and effectiveness were raised and praised profusely, those of democratic governance were discounted by comparison. In particular, integrity, the rule of law and due process, equity, legality and public service professionalism suffered a steep decline, in several parts of the world. Likewise, the invasion and the capture of public space, inevitably led to an unprecedented surge of greed, abuse and corruption that contributed directly to the crisis which is upon us. Looking for exit strategies, as its title aptly suggests, the present volume offers a rich menu of ideas drawn from the current experience of all the world ́s main regions. Not surprisingly, two concepts stand out throughout the book as necessary correctives, as well as pressing remedies to the world ́s ongoing malaise. They call for the recapture of our common administrative space and the reaffirmation of the values and virtues appropriate for democratic governance. To the IIAS, none perhaps are more important than public service professionalism and none other can contribute more effectively to the reform and consolidation of sound institutions for national, sub national, global and regional governance. For these reasons, at this juncture, the new volume like the others should be featured in every public library and become a vademecum of all scholars and practitioners of public administration and politics around the world.