Document
... and private debt is an additional risk factor. The expenditure-based consolidation strategy has relied mainly on declining interest rates and cuts in public investment. The already very high revenue-to-GDP ratio leaves little margin for further tax hikes, suggesting that further consolidation need ...
... and private debt is an additional risk factor. The expenditure-based consolidation strategy has relied mainly on declining interest rates and cuts in public investment. The already very high revenue-to-GDP ratio leaves little margin for further tax hikes, suggesting that further consolidation need ...
DownloadPDF - 1.5 MB - European Commission
... and private debt is an additional risk factor. The expenditure-based consolidation strategy has relied mainly on declining interest rates and cuts in public investment. The already very high revenue-to-GDP ratio leaves little margin for further tax hikes, suggesting that further consolidation need ...
... and private debt is an additional risk factor. The expenditure-based consolidation strategy has relied mainly on declining interest rates and cuts in public investment. The already very high revenue-to-GDP ratio leaves little margin for further tax hikes, suggesting that further consolidation need ...
No - econpubblica - Università Bocconi
... from the rule celing, such as: • debt interest • unemployment benefits • social security • earmarked revenues • local government (own resources) 3. Contingency Reserves Building contingency margins into expenditure projections or ceilings: • Netherlands: 0.25% • UK: 0.75 – 1% • Canada: 1.5 – 2% • Sw ...
... from the rule celing, such as: • debt interest • unemployment benefits • social security • earmarked revenues • local government (own resources) 3. Contingency Reserves Building contingency margins into expenditure projections or ceilings: • Netherlands: 0.25% • UK: 0.75 – 1% • Canada: 1.5 – 2% • Sw ...
Balance of payments, net foreign assets and foreign exchange
... Since 1990, the current account of Denmark’s balance of payments1 has shown a surplus. This follows a long period of deficits. Consequently, the foreign debt, which peaked at approximately 45 per cent of the gross domestic product, GDP, in the second half of the 1980s, has made way for net foreign a ...
... Since 1990, the current account of Denmark’s balance of payments1 has shown a surplus. This follows a long period of deficits. Consequently, the foreign debt, which peaked at approximately 45 per cent of the gross domestic product, GDP, in the second half of the 1980s, has made way for net foreign a ...
The FY2011 Federal Budget CRS Report for Congress Mindy R. Levit
... increased the fiscal burden. These federal interventions and policy responses, unprecedented in recent decades, helped stimulate economic activity and reduced dislocation in financial markets, but also exposed the federal government to substantial credit risks. While GDP growth has returned in recen ...
... increased the fiscal burden. These federal interventions and policy responses, unprecedented in recent decades, helped stimulate economic activity and reduced dislocation in financial markets, but also exposed the federal government to substantial credit risks. While GDP growth has returned in recen ...
Malaysia`s budget-Nothing to rock the boat
... in sentiment can last. Admittedly, cash hand-outs and wage hikes might provide some relief to households in the short term. But there currently exists a high level of precaution among consumers, particularly with regards to the labour market outlook – an area that the budget did not address. Consequ ...
... in sentiment can last. Admittedly, cash hand-outs and wage hikes might provide some relief to households in the short term. But there currently exists a high level of precaution among consumers, particularly with regards to the labour market outlook – an area that the budget did not address. Consequ ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 91 final
... Other key economic issues analysed in this report which point to particular challenges facing Finland’s economy are as follows: The legislation needed to reform the healthcare and social services system has been agreed by the government. The main aims of the reform include improved access to healt ...
... Other key economic issues analysed in this report which point to particular challenges facing Finland’s economy are as follows: The legislation needed to reform the healthcare and social services system has been agreed by the government. The main aims of the reform include improved access to healt ...
Document
... no substantial short-term fiscal risks exist, some variables point to possible short-term challenges. Moreover, there are medium-term risks. The debt ratio poses risks; in particular, it could exceed 90 % of GDP should shocks such as an interest rate shock or a shock to GDP materialise and if the bu ...
... no substantial short-term fiscal risks exist, some variables point to possible short-term challenges. Moreover, there are medium-term risks. The debt ratio poses risks; in particular, it could exceed 90 % of GDP should shocks such as an interest rate shock or a shock to GDP materialise and if the bu ...
The National Budget 2015
... the low interest rate level and the high income growth. According to national accounts, this is mirrored in high savings. Disregarding large dividend distributions prior to the introduction of a tax on dividends in 2006, savings as a portion of disposable income are currently at a historically high ...
... the low interest rate level and the high income growth. According to national accounts, this is mirrored in high savings. Disregarding large dividend distributions prior to the introduction of a tax on dividends in 2006, savings as a portion of disposable income are currently at a historically high ...
Paying off government debt
... since the government must pay interest or retire bonds. In some cases, short-run deficits can be justified. Just as consumers or businesses may wish to smooth out the cost of consumption over time, so can government. If the government is building infrastructure which has long-term benefits, it may b ...
... since the government must pay interest or retire bonds. In some cases, short-run deficits can be justified. Just as consumers or businesses may wish to smooth out the cost of consumption over time, so can government. If the government is building infrastructure which has long-term benefits, it may b ...
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... dollarized ones. Given the very small number of observations for the dollarized group, and the low quality of the data, these results are subject to stronger caveats than usual, and should be interpreted with care.9 III. Panama’s Experience with Dollarization Supporters of “dollarization” have point ...
... dollarized ones. Given the very small number of observations for the dollarized group, and the low quality of the data, these results are subject to stronger caveats than usual, and should be interpreted with care.9 III. Panama’s Experience with Dollarization Supporters of “dollarization” have point ...
Nigeria: 2007 Article IV Consultation
... macroeconomic framework, a higher deficit, consistent with macroeconomic stability, of 25 percent of non-oil GDP is used. This larger deficit could allow for the resumption of large infrastructure projects that were put on hold for review by the incoming government, capital outlays from the 2007 bud ...
... macroeconomic framework, a higher deficit, consistent with macroeconomic stability, of 25 percent of non-oil GDP is used. This larger deficit could allow for the resumption of large infrastructure projects that were put on hold for review by the incoming government, capital outlays from the 2007 bud ...
Crunch Time: Fiscal Crises and the Role of Monetary Policy*
... As recently as the 1990s, the United States government was running budget surpluses and there was serious discussion of what would happen if the federal government was able to retire its debt. ...
... As recently as the 1990s, the United States government was running budget surpluses and there was serious discussion of what would happen if the federal government was able to retire its debt. ...
Country report on Bulgaria - European Commission
... at the onset of the crisis. In addition, still high nonfinancial corporate debt, persistent negative inflation, an unsupportive business environment and serious concerns about corruption further weigh on investment and growth. Weaknesses in the insolvency framework are an obstacle to deleveraging an ...
... at the onset of the crisis. In addition, still high nonfinancial corporate debt, persistent negative inflation, an unsupportive business environment and serious concerns about corruption further weigh on investment and growth. Weaknesses in the insolvency framework are an obstacle to deleveraging an ...
The Macroeconomic Effects of Official Debt Restructuring: Evidence
... Similar to what has been observed for restructurings involving privatelyheld sovereign debt (Asonuma and Trebesch 2016), Paris Club treatments are likely to have different macroeconomic effects, depending on the specific features of the agreement reached and the underlying circumstances of the count ...
... Similar to what has been observed for restructurings involving privatelyheld sovereign debt (Asonuma and Trebesch 2016), Paris Club treatments are likely to have different macroeconomic effects, depending on the specific features of the agreement reached and the underlying circumstances of the count ...
Submission to the Savings Working Group Executive summary
... increase in the net stock of foreign liabilities, occurred in the 1970s and 1980s. By 1990, the negative net international investment position was already around 60 percent of GDP. Thus, although what New Zealand residents now save from the incomes left over after we have serviced our debts looks a ...
... increase in the net stock of foreign liabilities, occurred in the 1970s and 1980s. By 1990, the negative net international investment position was already around 60 percent of GDP. Thus, although what New Zealand residents now save from the incomes left over after we have serviced our debts looks a ...
91 Photo: Marc Proksch
... tion, not all countries have this flexibility. Some countries, notably in South Asia, face strained fiscal positions together with inflationary pressures. Others, notably developed countries, continue to struggle with recession – both cyclical and structural – and obstinate deflationary pressures. A ...
... tion, not all countries have this flexibility. Some countries, notably in South Asia, face strained fiscal positions together with inflationary pressures. Others, notably developed countries, continue to struggle with recession – both cyclical and structural – and obstinate deflationary pressures. A ...
2 56 ECONOMIC AND SOCIAL SURVEY OF ...
... as foodstuffs. However, it has begun to decelerate in a number of countries. Monetary policy in a number of the countries is shifting towards some form of monetary easing. The sizable and growing budget deficits in many countries in the subregion limit the scope for fiscal policy measures. Widening ...
... as foodstuffs. However, it has begun to decelerate in a number of countries. Monetary policy in a number of the countries is shifting towards some form of monetary easing. The sizable and growing budget deficits in many countries in the subregion limit the scope for fiscal policy measures. Widening ...
The Economic Adjustment Programme for Portugal
... persistent current account deficits, Portugal had accumulated a high external debt, which was reflected in high household, corporate and fiscal imbalances. The period from 2009 up to the request for financial assistance was marked by a significant increase in both government deficit and debt to GDP ...
... persistent current account deficits, Portugal had accumulated a high external debt, which was reflected in high household, corporate and fiscal imbalances. The period from 2009 up to the request for financial assistance was marked by a significant increase in both government deficit and debt to GDP ...
Summary - A review of the surplus target
... levels for net lending of between -0.5 per cent and 1 per cent of GDP. Making reasonable assumptions about interest rates and growth, if maintained, all these budget balance targets lead to the general government debt ratio moving towards a level that is sustainable in the long-term. In the opinion ...
... levels for net lending of between -0.5 per cent and 1 per cent of GDP. Making reasonable assumptions about interest rates and growth, if maintained, all these budget balance targets lead to the general government debt ratio moving towards a level that is sustainable in the long-term. In the opinion ...
Document
... to decrease, supported by a healthier financial sector, but public sector debt has not been reduced, resulting in a slow reduction of the very high level of external debt. Although unemployment has been falling rapidly, it remains very high, and both poverty and income inequality are among the highe ...
... to decrease, supported by a healthier financial sector, but public sector debt has not been reduced, resulting in a slow reduction of the very high level of external debt. Although unemployment has been falling rapidly, it remains very high, and both poverty and income inequality are among the highe ...
The Current Economic Recession
... news have asked recently: is this recession different from the past? It finds little evidence that this is the case. Commentators have claimed that this recession is different from the past because it is an investment-led (rather than a consumption-led) recession. While it appears true that the curr ...
... news have asked recently: is this recession different from the past? It finds little evidence that this is the case. Commentators have claimed that this recession is different from the past because it is an investment-led (rather than a consumption-led) recession. While it appears true that the curr ...
“GDP-GNP Gap Trade-Off: Is it Significant for Economic Performance
... country's citizens, the result is GNP. When the calculations are made of all incomes (or all expenditures) that originated within a country's boundaries, including those of foreign citizens, the result is GDP. GNP may be much less than GDP if much of the income from a country's production flows to f ...
... country's citizens, the result is GNP. When the calculations are made of all incomes (or all expenditures) that originated within a country's boundaries, including those of foreign citizens, the result is GDP. GNP may be much less than GDP if much of the income from a country's production flows to f ...
EUROPEAN COMMISSION Brussels, 22.2.2017 SWD(2017) 84 final
... high level is mostly accounted for by the nonfinancial corporate sector. A comparably large savings surplus in the non-financial corporate sector is rooted in relatively high investment income and low levels of profit distribution of multinational enterprises. After the crisis, household deleveragin ...
... high level is mostly accounted for by the nonfinancial corporate sector. A comparably large savings surplus in the non-financial corporate sector is rooted in relatively high investment income and low levels of profit distribution of multinational enterprises. After the crisis, household deleveragin ...
1 - Hans-Böckler
... variables leading to downward-biased multipliers. So far it has been overlooked that the same critique applies to another strand of the literature that adjusts budget variables by directly imposing restrictions from prior information on budget sensitivities and recognition and implementation lags to ...
... variables leading to downward-biased multipliers. So far it has been overlooked that the same critique applies to another strand of the literature that adjusts budget variables by directly imposing restrictions from prior information on budget sensitivities and recognition and implementation lags to ...