Medium-Term Budget Framework
... – Set of 10 fiscal indicators used to assess impact of institutions on fiscal performance ...
... – Set of 10 fiscal indicators used to assess impact of institutions on fiscal performance ...
Macro Chapter 7 Lecture
... Fiscal Policy Fiscal Policy • Government’s approach toward its own spending and taxation • Minister of finance brings down annual budget in Parliament each spring • Contains estimates of government’s revenues and expenditures ...
... Fiscal Policy Fiscal Policy • Government’s approach toward its own spending and taxation • Minister of finance brings down annual budget in Parliament each spring • Contains estimates of government’s revenues and expenditures ...
7_2014_austrian-fiscal-advisory-council
... Medium-term fiscal outlook: based on AT Stability Programme with own calculations regarding compliance with fiscal rules and assessments based on own forecasts Assessment of the Draft Budgetary Plan of the Government with own calculations regarding compliance with fiscal rules and assessments based ...
... Medium-term fiscal outlook: based on AT Stability Programme with own calculations regarding compliance with fiscal rules and assessments based on own forecasts Assessment of the Draft Budgetary Plan of the Government with own calculations regarding compliance with fiscal rules and assessments based ...
The Benefits and “How-To” of Multiple Year Budgeting
... • A Budget Task Force provides input to the County Executive for development of the Recommended Budget. – The Budget Task Force is comprised of the Deputy ...
... • A Budget Task Force provides input to the County Executive for development of the Recommended Budget. – The Budget Task Force is comprised of the Deputy ...
Appendix on fiscal procyclicality
... In 2009, the popularity of the Socialist President of Chile Michelle Bachelet rose sharply (both with respect to handling of the economy and overall), to the highest levels since the restoration of democracy 20 years earlier. More remarkable: the rise in the polls, from very low to very high, came j ...
... In 2009, the popularity of the Socialist President of Chile Michelle Bachelet rose sharply (both with respect to handling of the economy and overall), to the highest levels since the restoration of democracy 20 years earlier. More remarkable: the rise in the polls, from very low to very high, came j ...
Slide 1
... …during the pre-crisis years (2003-2008) the energy sector provided most of the impetus for changes in aggregate demand. However, there have also been signs of an improved fiscal impulse from the non-energy sector since the year 2009. ...
... …during the pre-crisis years (2003-2008) the energy sector provided most of the impetus for changes in aggregate demand. However, there have also been signs of an improved fiscal impulse from the non-energy sector since the year 2009. ...
Macro-Fiscal Forecasting - Homepage
... … but fiscal assumptions have to be coordinated Iteration of macro and fiscal are done within the unit … but requires access to updated info on new policies Good conditions for preparing fiscal policy recommendations … but actual implementation demands coordination Center for macro-fiscal anal ...
... … but fiscal assumptions have to be coordinated Iteration of macro and fiscal are done within the unit … but requires access to updated info on new policies Good conditions for preparing fiscal policy recommendations … but actual implementation demands coordination Center for macro-fiscal anal ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: NBER International Seminar on Macroeconomics
... In addition, the paper could link its results to the ones found in the literature on cross-country spillovers. Backus, Kehoe, and Kydland (1992) show that standard models cannot generate significant output comovements between countries if business cycles are driven by productivity shocks. Subsequent ...
... In addition, the paper could link its results to the ones found in the literature on cross-country spillovers. Backus, Kehoe, and Kydland (1992) show that standard models cannot generate significant output comovements between countries if business cycles are driven by productivity shocks. Subsequent ...
Brian Olden (IMF)
... • Discipline enforced by the minister of finance • Structured budget process • Requirement of ministry of finance approval of fiscal impact of new policies Operational commitments • Multi-annual commitments are necessary for operational efficiency … • … but central control is necessary to enforce di ...
... • Discipline enforced by the minister of finance • Structured budget process • Requirement of ministry of finance approval of fiscal impact of new policies Operational commitments • Multi-annual commitments are necessary for operational efficiency … • … but central control is necessary to enforce di ...
Has austerity gone too far?
... with strong fiscal shoulders, actually enjoying a negative risk premium. A third category includes countries not facing a confidence crisis, yet with inherent vulnerabilities – a relatively high public debt, a fragile financial sector, and high unemployment. ...
... with strong fiscal shoulders, actually enjoying a negative risk premium. A third category includes countries not facing a confidence crisis, yet with inherent vulnerabilities – a relatively high public debt, a fragile financial sector, and high unemployment. ...
Jeffrey Frankel Carlos A. Vegh Guillermo Vuletin 23 June 2011, VOX
... markets were able to bounce back from the 2008-2009 global financial crisis more quickly than advanced countries (Didier et al. 2011). ...
... markets were able to bounce back from the 2008-2009 global financial crisis more quickly than advanced countries (Didier et al. 2011). ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: NBER International Seminar on Macroeconomics
... using OLS, Tobit, and instrumental variables. The basic results can be found in table 5, wherein the higher the debt / tax revenue and the higher the trade openness, the smaller the fiscal stimulus. A 1 percentage point increase in the debt / tax revenue induces a 0.004 percentage point reduction in ...
... using OLS, Tobit, and instrumental variables. The basic results can be found in table 5, wherein the higher the debt / tax revenue and the higher the trade openness, the smaller the fiscal stimulus. A 1 percentage point increase in the debt / tax revenue induces a 0.004 percentage point reduction in ...
R. Beetsma
... ‘pure’ policy or ‘direct’ spillovers. – Have received much less attention than indirect spillovers via the economy – Better information on spill-over effects promote better alignment of national fiscal policies – How can peer pressure be made to work most efficiently? How can countries be motivated ...
... ‘pure’ policy or ‘direct’ spillovers. – Have received much less attention than indirect spillovers via the economy – Better information on spill-over effects promote better alignment of national fiscal policies – How can peer pressure be made to work most efficiently? How can countries be motivated ...
UK reflections on the golden rule - Office for Budget Responsibility
... • It would approximate to the principle of achieving fairness between generations • It would address past fiscal failings by removing the bias against capital spending • It would allow the automatic stabilisers to work, by targeting balance over the economic cycle • Coupled with debt rule, it would ...
... • It would approximate to the principle of achieving fairness between generations • It would address past fiscal failings by removing the bias against capital spending • It would allow the automatic stabilisers to work, by targeting balance over the economic cycle • Coupled with debt rule, it would ...
Fundamentals of Management
... SFIs have no significant impact on the non-oil balance or expenditure dynamics. Liquidity considerations are a key factor for fiscal policy in OPCs. Some evidence that broader governance institutions have an impact on fiscal outcomes. ...
... SFIs have no significant impact on the non-oil balance or expenditure dynamics. Liquidity considerations are a key factor for fiscal policy in OPCs. Some evidence that broader governance institutions have an impact on fiscal outcomes. ...
Europe`s Stability and Growth Pact in the Context
... budgetary balance. Will take action no later than the year following the identification of “excessive fiscal deficit” which is in excess of 3% of GDP The European council is “always invited” to impose sanctions if the member state fails to take necessary steps to bring deficits under control ...
... budgetary balance. Will take action no later than the year following the identification of “excessive fiscal deficit” which is in excess of 3% of GDP The European council is “always invited” to impose sanctions if the member state fails to take necessary steps to bring deficits under control ...
Budget Process - Atlas of Public Policy and Management
... Prior to every election, FTAA also requires the release of a preelection report about Ontario’s finances, to be reviewed by the Auditor General. The pre-election report (drawn primarily from the Budget) is required to include: – macroeconomic forecasts and assumptions – an estimate of Ontario’s reve ...
... Prior to every election, FTAA also requires the release of a preelection report about Ontario’s finances, to be reviewed by the Auditor General. The pre-election report (drawn primarily from the Budget) is required to include: – macroeconomic forecasts and assumptions – an estimate of Ontario’s reve ...
The UK’s fiscal watchdog: a view from the kennel
... Absolute Deviation from Approved Budget vs Strength of Implementing Institutions ...
... Absolute Deviation from Approved Budget vs Strength of Implementing Institutions ...
8419 Demonstrate knowledge of fiscal policy and evaluate
... Providers must be granted consent to assess against standards (accredited) by NZQA, before they can report credits from assessment against unit standards or deliver courses of study leading to that assessment. Industry Training Organisations must be granted consent to assess against standards by NZQ ...
... Providers must be granted consent to assess against standards (accredited) by NZQA, before they can report credits from assessment against unit standards or deliver courses of study leading to that assessment. Industry Training Organisations must be granted consent to assess against standards by NZQ ...
Implications for Aggregate Fiscal Discipline [220K
... deficit/GDP<3% debt/GDP<60% Credibility of the rule is in this case imposed by a group of countries (with some flexibility), not by the individual countries alone. • Have been effective in helping achieve convergence, but part of the adjustment was achieved through creative accounting, as well as a ...
... deficit/GDP<3% debt/GDP<60% Credibility of the rule is in this case imposed by a group of countries (with some flexibility), not by the individual countries alone. • Have been effective in helping achieve convergence, but part of the adjustment was achieved through creative accounting, as well as a ...
Chapter 17 - Patrick M. Crowley
... Where should the burden of proof lie? The EU has taken the view that the burden of proof lies with those who argue in favour of sharing sovereign tasks: principle of subsidiarity. In other words: unless there is a strong case of increasing returns to scale or of externality, the presumption is that ...
... Where should the burden of proof lie? The EU has taken the view that the burden of proof lies with those who argue in favour of sharing sovereign tasks: principle of subsidiarity. In other words: unless there is a strong case of increasing returns to scale or of externality, the presumption is that ...
Slide 1
... Where should the burden of proof lie? The EU has taken the view that the burden of proof lies with those who argue in favour of sharing sovereign tasks: principle of subsidiarity. In other words: unless there is a strong case of increasing returns to scale or of externality, the presumption is that ...
... Where should the burden of proof lie? The EU has taken the view that the burden of proof lies with those who argue in favour of sharing sovereign tasks: principle of subsidiarity. In other words: unless there is a strong case of increasing returns to scale or of externality, the presumption is that ...
Discretionary fiscal policies, automatic stabilisation and economic
... beyond credit-constrained consumers to also include those who may be more inclined to hold on to the money rather than spend it. This reduces the effectiveness of fiscal activism. Finally, there is a clear risk that tax cuts or spending increases that are intended to be temporary will, in practice, ...
... beyond credit-constrained consumers to also include those who may be more inclined to hold on to the money rather than spend it. This reduces the effectiveness of fiscal activism. Finally, there is a clear risk that tax cuts or spending increases that are intended to be temporary will, in practice, ...