Download or read book Indicators of Fiscal Sustainability written by Ms.Jocelyn Horne and published by International Monetary Fund. This book was released on 1991-01-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the usefulness of summary measures of fiscal sustainability for the purpose of multilateral surveillance. An overview of the main conceptual issues is first presented. Next, an assessment is made of the strengths and weaknesses of the summary measures in the context of their recent application to industrial countries by the OECD and the Fund. The measures are shown to highlight the inadequacy of using trends in public debt ratios to assess sustainability. However, the measures and their recent application are subject to a number of caveats, in particular in relation to their sensitivity to the discount rate, time paths of government expenditures and private sector behavior.
Download or read book Indicators for Measuring Fiscal Sustainability written by Ulrich Benz and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Indicators for measuring fiscal sustainability written by Ulrich Benz and published by . This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Sustainability in Theory and Practice written by Craig Burnside and published by World Bank Publications. This book was released on 2005 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Topics discussed in this publication include: an introduction to theoretical and practical aspects of fiscal sustainability; theoretical prerequisites for fiscal sustainability analysis; debt indicators in the measurement of vulnerability; cyclical adjustment of budget surplus; pro-cyclical fiscal policy using Mexico's fiscal accounts as a case study; fiscal rules and the experience of Chile; currency crises and models for deal with financing costs.
Download or read book Assessing Fiscal Sustainability in Theory and Practice written by Nigel Andrew Chalk and published by International Monetary Fund. This book was released on 2000-04 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is the benchmark against which solvency is determined, tests of sustainability (including sustainability indicators), and sustainability and uncertainty. The paper then looks at the way in which fiscal sustainability has been assessed in different types of IMF work. Finally the link between fiscal and external sustainability is discussed.
Download or read book Assessing Fiscal Sustainability written by Mr.Enzo Croce and published by International Monetary Fund. This book was released on 2003-07-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: To monitor fiscal sustainability, this paper proposes a recursive algorithm derived from the law of motion of the debt-to-GDP ratio, subject to a government reaction function that links convergence to the targeted debt ratio with primary fiscal surpluses. Based on quarterly estimates of this algorithm in the 1990s, 12 developed and developing countries are ranked according to their degree of sustainability. For a number of countries, the paper finds evidence of causality between the fiscal policy stance and growth-adjusted real interest rates.
Download or read book Measuring Sustainability written by Debora Valentina Malito and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of sustainability emerged on the global governance agenda during the 1970s, when, the economic crisis put the spotlight on environmental and social risks associated with economic growth. Although much has been written about it, the literature on pillars, dimensions and measures of sustainability has developed quite independently from the discussions on the idea of sustainability as a set of interlinked and interdependent concentric thematic circles (that is its environmental, social, economic and institutional dimensions). Beginning with this conceptual debate, the present paper argues that indicators of fiscal sustainability are caught between demands of a solvency criterion and the principles of inter- and intra-generational equity. Bypassing their function as a mere representation of reality, these indicators have played a key role in de facto regulating the current fiscal crisis and in eclipsing the other dimensions of sustainability. To discuss this argument, the paper's first section explores the literature on sustainability indicators and composite indices of sustainable development. Its second part focuses on indicators of fiscal sustainability evaluating concepts, measures and demands. The third part gives insight into two measures, the United Nations' (UN) Debt to GNI ratio and the European Union's (EU) fiscal sustainability gap indicators. The fourth part concludes by summarising conceptual, normative and ontological questions.
Download or read book Measuring Sustainability written by and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of sustainability emerged on the global governance agenda during the 1970s, when, the economic crisis put the spotlight on environmental and social risks associated with economic growth. Although much has been written about it, the literature on pillars, dimensions and measures of sustainability has developed quite independently from the discussions on the idea of sustainability as a set of interlinked and interdependent concentric thematic circles (that is its environmental, social, economic and institutional dimensions). Beginning with this conceptual debate, the present paper argues that indicators of fiscal sustainability are caught between demands of a solvency criterion and the principles of inter- and intra-generational equity. Bypassing their function as a mere representation of reality, these indicators have played a key role in de facto regulating the current fiscal crisis and in eclipsing the other dimensions of sustainability. To discuss this argument, the paper's first section explores the literature on sustainability indicators and composite indices of sustainable development. Its second part focuses on indicators of fiscal sustainability evaluating concepts, measures and demands. The third part gives insight into two measures, the United Nations' (UN) Debt to GNI ratio and the European Union's (EU) fiscal sustainability gap indicators. The fourth part concludes by summarising conceptual, normative and ontological questions.
Download or read book Measuring Fiscal Vulnerability and Fiscal Stress written by Mr.Emanuele Baldacci and published by International Monetary Fund. This book was released on 2011-04-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a set of fiscal indicators to assess rollover risks using the conceptual framework developed by Cottarelli (2011). These indicators provide early warning signals about the manifestation of these risks, giving policymakers the opportunity to adjust policies before extreme fiscal stress events. Two aggregate indices are calculated: an index of fiscal vulnerability and an index of fiscal stress. Results show that both indices are elevated for advanced economies, reflecting unfavorable medium-term debt dynamics and aging-related spending pressures. In emerging economies, solvency risks are lower, but the composition of public debt remains a source of risk and the fiscal position is weaker than before the crisis.
Download or read book Assessing Fiscal Sustainability in Theory and Practice written by Nigel Chalk and published by . This book was released on 2006 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is the benchmark against which solvency is determined, tests of sustainability (including sustainability indicators), and sustainability and uncertainty. The paper then looks at the way in which fiscal sustainability has been assessed in different types of IMF work. Finally the link between fiscal and external sustainability is discussed.
Download or read book Representing Reducing Or Removing Complexity written by Nehal Bhuta and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last two decades numerous indicators measuring sustainability and its different dimensions have been created. The 2007 economic crisis led to increased scrutiny of public sector fiscal imbalances, and efforts to create more sophisticated measures of fiscal sustainability. The literature on this recent formulation and use of sustainability indicators is broad and contested. It however largely tends to focus on fiscal components, while wider meanings of sustainability are accounted for to a lesser degree. This working paper examines the conceptual and empirical questions relating to the production of indicators of sustainability, both in the sense of fiscal sustainability and sustainable development. It also discusses the uses of sustainability indicators.
Download or read book Representing Reducing Or Removing Complexity written by Debora Valentina Malito and published by . This book was released on 2014 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last two decades numerous indicators measuring sustainability and its different dimensions have been created. The 2007 economic crisis led to increased scrutiny of public sector fiscal imbalances, and efforts to create more sophisticated measures of fiscal sustainability. The literature on this recent formulation and use of sustainability indicators is broad and contested. It however largely tends to focus on fiscal components, while wider meanings of sustainability are accounted for to a lesser degree. This working paper examines the conceptual and empirical questions relating to the production of indicators of sustainability, both in the sense of fiscal sustainability and sustainable development. It also discusses the uses of sustainability indicators.
Download or read book Fiscal Sustainability written by Mr.Evan Tanner and published by International Monetary Fund. This book was released on 2013-04-22 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some objective regarding the distribution of fiscal burdens and distortions over time (in the tradition of Barro’s 1979 tax smoothing objective). The paper discusses objective functions that yield simple and transparent fiscal policy rules.
Download or read book Fiscal Sustainability with Non Renewable Resources written by Mr.Nigel Andrew Chalk and published by International Monetary Fund. This book was released on 1998-03-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural weaknesses in the underlying budgetary position, takes into account the rate of depletion of a country’s natural resource base, and examines the impact of changes in a country’s terms of trade. An alternative indicator of fiscal sustainability is derived, and the principal factors determining sustainability are identified. The results of the analysis are applied to Venezuela and Kuwait.
Download or read book The Forecasting Capacity of Indicators Measuring Budget Sustainability written by Csaba G Tóth and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the outbreak of the European debt crisis, fiscal sustainability as a research area became more and more popular. This paper aims to assess the predicting power of the basic types of the following five fiscal sustainability indicators: primary gap (1), stationary tests for public debt (2), stationary test for the first differential of public debt (3), public revenues and expenditures cointegration (4); fiscal reaction function (5). The results indicate that predictive power is rather low for all indicators except for the first one. One reason for this may be that these indicators ignore the factors outside the range of fiscal policy. After comparing our result with previous research studies, we conclude that the results of these tests are heavily influenced by the choice of parameters, samples and the econometric methods used. For these reasons, it appears reasonable to evaluate and compare the predictive power of all fiscal sustainability indicators. By utilising the lessons learned, certain procedures should be standardised on the one hand, where this is possible, and on the other, methodology should be developed further in order to increase effectiveness.
Download or read book Key Performance Indicators for Sustainable Management written by Hans-Ulrich Krause and published by Walter de Gruyter GmbH & Co KG. This book was released on 2019-11-18 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Key Performance Indicators (KPIs) have become a regular and useful tool for measuring business performance everywhere. The KPIs not only help in strategic planning but also in managing operative business world over. The KPIs in the book are organized according to the Balanced Scorecard (BSC) approach, which emphasizes the importance of using both financial and non-financial information to remain competitive in the modern world. We proudly place on record the fact that our book is the first of its kind and provides for a complete analysis of KPIs under financial, customer, process and human resource/innovation perspectives. The book is a major contribution towards achieving sustainable growth as a competitive advantage. It also emphasizes the importance of social acceptance and environmental impact of the business activity. The compendium provides over 170 KPIs in a compact form. It delivers simple definitions, easy to calculate formulae, possible interpretations and useful suggestions towards an efficient and effective implementation of KPIs as controlling instruments.
Download or read book Fiscal frameworks and fiscal sustainability in the Nordics written by Calmfors, Lars and published by Nordic Council of Ministers. This book was released on 2020-04-01 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public finances in the Nordics are facing great future challenges due to demographic developments. Increasing longevity is changing the age structure of the population, significantly raising the share of older people and thus the old-age dependency ratio. Over the last two decades, there has been a strong international trend to strengthen fiscal frameworks by adopting more stringent fiscal rules as well as increasing transparency and accountability. A first aim of the report is to survey and evaluate the fiscal frameworks in the Nordic countries. A second aim is to review how long-run sustainability analyses of public finances are made – and communicated to policy-makers and the general public – in the Nordics, by Ministries of Finance as well as by other institutions. The report also concludes the severity of the fiscal-sustainability problems in the Nordic countries.
