Francesco Caprioli Optimal Fiscal Policy, Limited Commitment and Learning
... and Kehoe (1994a), Chari and Kehoe (1998), Faraglia, Marcet and Scott (2006, 2007), Marcet and Scott (2008), Scott (1999a, 2007)). One strong conclusion coming out of these models is that a benevolent government should set distorting taxes roughly constant over time and across states of nature. This ...
... and Kehoe (1994a), Chari and Kehoe (1998), Faraglia, Marcet and Scott (2006, 2007), Marcet and Scott (2008), Scott (1999a, 2007)). One strong conclusion coming out of these models is that a benevolent government should set distorting taxes roughly constant over time and across states of nature. This ...
Working Paper 17-6: Does Greece Need More Official Debt Relief? If
... Since mid-2015, the International Monetary Fund (IMF), EU institutions, and European creditor countries have been arguing whether Greece requires additional official debt relief—and if so, how much.1 One-and-a-half years later, their positions seem as far apart as ever. In a report released on Febru ...
... Since mid-2015, the International Monetary Fund (IMF), EU institutions, and European creditor countries have been arguing whether Greece requires additional official debt relief—and if so, how much.1 One-and-a-half years later, their positions seem as far apart as ever. In a report released on Febru ...
S0701051_en.pdf
... in some cases there may be apparent discrepancies with the information issued by individual countries. ...
... in some cases there may be apparent discrepancies with the information issued by individual countries. ...
budget proposal 2016 medium-term fiscal plan 2016-2019
... slower than GDP growth. • The plan aimes for continued expenditure restraint so that growth in primary expenditure will be moderate in real terms, or 1,3% annually on average which will accumulate to around 5% over the forecasting period. Thus, the target for primary expenditure, excluding irregular ...
... slower than GDP growth. • The plan aimes for continued expenditure restraint so that growth in primary expenditure will be moderate in real terms, or 1,3% annually on average which will accumulate to around 5% over the forecasting period. Thus, the target for primary expenditure, excluding irregular ...
Portugal: Ex Post Evaluation of Exceptional Access Under the
... supportive macroeconomic policy settings. The fiscal loosening in place since last year and the ECB’s appropriately supportive monetary policy stance have translated into robust consumption growth. However, overall GDP growth is being held back by weaker export growth and sluggish investment, with t ...
... supportive macroeconomic policy settings. The fiscal loosening in place since last year and the ECB’s appropriately supportive monetary policy stance have translated into robust consumption growth. However, overall GDP growth is being held back by weaker export growth and sluggish investment, with t ...
European economic forecast - autumn 2009
... been revised up. GDP growth is expected to turn positive again in the second half of the year, thereby putting an end to the deepest, longest and most broad-based recession in EU's history. This would not have been possible without the determined and concerted policy action taken EU wide. In so doin ...
... been revised up. GDP growth is expected to turn positive again in the second half of the year, thereby putting an end to the deepest, longest and most broad-based recession in EU's history. This would not have been possible without the determined and concerted policy action taken EU wide. In so doin ...
The Swedish fiscal policy framework
... are not liable to prevent net lending from returning to a level in line with the surplus target when resource utilisation normalizes. Experience illustrates that once certain temporary measures of stabilisation policy have been introduced, it can be politically difficult to reverse them. Such measur ...
... are not liable to prevent net lending from returning to a level in line with the surplus target when resource utilisation normalizes. Experience illustrates that once certain temporary measures of stabilisation policy have been introduced, it can be politically difficult to reverse them. Such measur ...
ALBANIA`S ECONOMIC REFORM PROGRAMME 2016-2018
... energy market to diversification of energy sources (Gasification), upgrading and construction of Durres Port Infrastructure and the feasibility study for construction and upgrade of the AdriaticIonian Corridor. With a particular focus of connectivity and sector development, ERP 2016-2018 presents th ...
... energy market to diversification of energy sources (Gasification), upgrading and construction of Durres Port Infrastructure and the feasibility study for construction and upgrade of the AdriaticIonian Corridor. With a particular focus of connectivity and sector development, ERP 2016-2018 presents th ...
the economic adjustment programme for Cyprus
... 15 May 2013. It covers the period 2013-2016. The financial package will cover up to EUR 10 billion, including EUR 1 billion from the IMF. In the last decade, Cyprus was increasingly faced with serious challenges in terms of unsustainable external and internal macroeconomic imbalances. While some imb ...
... 15 May 2013. It covers the period 2013-2016. The financial package will cover up to EUR 10 billion, including EUR 1 billion from the IMF. In the last decade, Cyprus was increasingly faced with serious challenges in terms of unsustainable external and internal macroeconomic imbalances. While some imb ...
2013 External Balance Assessment (EBA) Methodology
... Since a given economy’s current account and real effective exchange rate is by nature measured relative to other countries, they cannot be determined only by a country’s own characteristics—they must reflect also “foreign” characteristics, within a simultaneously determined general equilibrium. Whil ...
... Since a given economy’s current account and real effective exchange rate is by nature measured relative to other countries, they cannot be determined only by a country’s own characteristics—they must reflect also “foreign” characteristics, within a simultaneously determined general equilibrium. Whil ...
GDP
... mean the purchase of financial assets like stocks and bonds. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected websi ...
... mean the purchase of financial assets like stocks and bonds. © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected websi ...
Nicaragua: 2015 Article IV
... 4.7 percent in 2014, is expected to moderate owing to the effects of a drought and the decline in commodity prices; real GDP grew by 3.9 percent in the first half of the year. Inflation declined to 3 percent in October, mainly reflecting declines in food and transportation costs. Core inflation rema ...
... 4.7 percent in 2014, is expected to moderate owing to the effects of a drought and the decline in commodity prices; real GDP grew by 3.9 percent in the first half of the year. Inflation declined to 3 percent in October, mainly reflecting declines in food and transportation costs. Core inflation rema ...
- TestbankU
... occur to capitalize on higher interest rates in foreign countries, which affects the supply and demand conditions in each market. As funds leave a country with low interest rates, this places upward pressure on that country’s interest rates. The international flow of funds caused this type of reacti ...
... occur to capitalize on higher interest rates in foreign countries, which affects the supply and demand conditions in each market. As funds leave a country with low interest rates, this places upward pressure on that country’s interest rates. The international flow of funds caused this type of reacti ...
Egypt General Budget 2015-2016
... new fiscal year. It was not issued to the public except on the first day of the new fiscal year. The lack of transparency that surrounded the budget brought the GoE under heavy criticism from several political parties, economic experts and civil society organizations. Al Wafd, Egyptian Social Democr ...
... new fiscal year. It was not issued to the public except on the first day of the new fiscal year. The lack of transparency that surrounded the budget brought the GoE under heavy criticism from several political parties, economic experts and civil society organizations. Al Wafd, Egyptian Social Democr ...
Implementing the Golden Rule for Public Investment in Europe
... contrast, the golden rule of public investment proposed in this study would be one important element of the necessary institutional reform. The rule is widely accepted in traditional public finance and would allow financing net public investment by government deficits thus promoting intergenerationa ...
... contrast, the golden rule of public investment proposed in this study would be one important element of the necessary institutional reform. The rule is widely accepted in traditional public finance and would allow financing net public investment by government deficits thus promoting intergenerationa ...
13 Fiscal Monitor Fiscal Adjustment in an Uncertain World
... the IMF staff regarding macroeconomic assumptions. The medium-term fiscal projections incorporate policy measures that are judged by the IMF staff as likely to be implemented. For countries supported by an IMF arrangement, the medium-term projections are those under the arrangement. In cases in whic ...
... the IMF staff regarding macroeconomic assumptions. The medium-term fiscal projections incorporate policy measures that are judged by the IMF staff as likely to be implemented. For countries supported by an IMF arrangement, the medium-term projections are those under the arrangement. In cases in whic ...
S0311856_en.pdf
... competitive exchange rates; even the economies that were overtaken by severe crises have already started to pick up. The six years of negative per capita growth caused social damage that will take time to reverse. There are 20 million more poor Latin Americans in 2003 than there were in 1997. Unempl ...
... competitive exchange rates; even the economies that were overtaken by severe crises have already started to pick up. The six years of negative per capita growth caused social damage that will take time to reverse. There are 20 million more poor Latin Americans in 2003 than there were in 1997. Unempl ...
Strategy and Outlook (DOC 718kb)
... discussion of the projected trends in the key economic indicators: gross state product, employment, unemployment, inflation, wages and population. The chapter also details the key risks facing the Victorian economy. ...
... discussion of the projected trends in the key economic indicators: gross state product, employment, unemployment, inflation, wages and population. The chapter also details the key risks facing the Victorian economy. ...
Implementing the Golden Rule for Public Investment in Europe
... Figure 10: general government net debt according to official forecasts (as of budget March 2000 until June 2010) and actual outturn in the UK in per cent of GDP, budgetary years 1998/99 to 2015/16.................................................................... 36 Figure A1: General government gr ...
... Figure 10: general government net debt according to official forecasts (as of budget March 2000 until June 2010) and actual outturn in the UK in per cent of GDP, budgetary years 1998/99 to 2015/16.................................................................... 36 Figure A1: General government gr ...
Whither growth in central and eastern Europe? Policy lessons
... Torbjörn Becker has been Director of the Stockholm Institute of Transition Economics at the Stockholm School of Economics since August 2006. He is also a board member of the Swedish International Development Cooperation Agency, chairman of the board of the Kyiv Economics Institute (Ukraine) and CenE ...
... Torbjörn Becker has been Director of the Stockholm Institute of Transition Economics at the Stockholm School of Economics since August 2006. He is also a board member of the Swedish International Development Cooperation Agency, chairman of the board of the Kyiv Economics Institute (Ukraine) and CenE ...
Perspectives on Global Real Interest Rates
... 1. Principal Component Analysis of Long-Term Real Interest Rates (percent, share of real-rate variation explained by the first three ...
... 1. Principal Component Analysis of Long-Term Real Interest Rates (percent, share of real-rate variation explained by the first three ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... network of nonfinancial public enterprises (henceforth, NFPEs) that have often been key players in the region's fiscal drama.3 (Table 6, below, presents the main summary statistics on NFPEs.) NFPEs often are the single largest source of revenues to the government, not only which case they would not ...
... network of nonfinancial public enterprises (henceforth, NFPEs) that have often been key players in the region's fiscal drama.3 (Table 6, below, presents the main summary statistics on NFPEs.) NFPEs often are the single largest source of revenues to the government, not only which case they would not ...
BULGARIA: ECONOMIC AND MARKET ANALYSES
... As of end-January 2010 gross external debt was EUR 37,291.6 mn. (107.5% of GDP) and decreased by EUR 414.2 mn. against the end of 2009 (EUR 37,705.8 mn., 111.3% of GDP). The highest debt decrease was the decrease (by EUR 486.2 mn., 5.8%) of Banks’ liabilities. Compared to end-January 2009 (EUR 37,27 ...
... As of end-January 2010 gross external debt was EUR 37,291.6 mn. (107.5% of GDP) and decreased by EUR 414.2 mn. against the end of 2009 (EUR 37,705.8 mn., 111.3% of GDP). The highest debt decrease was the decrease (by EUR 486.2 mn., 5.8%) of Banks’ liabilities. Compared to end-January 2009 (EUR 37,27 ...
World of Work Report 2010
... and several EU countries, this situation pushed households to borrow in order to fund their housing and consumption plans – which was possible because of a dysfunctional financial system. In other advanced economies like Germany and emerging countries such as China, growing inequalities translated i ...
... and several EU countries, this situation pushed households to borrow in order to fund their housing and consumption plans – which was possible because of a dysfunctional financial system. In other advanced economies like Germany and emerging countries such as China, growing inequalities translated i ...