LCCARL52Rev1_en.pdf
... Belize, citrus production made a good recovery from the effects of Hurricane Iris and also sugar and banana production posted solid growth. Manufacturing activity, although not one of the high-growth sectors in the regional economy, did show positive signs. In Jamaica, it registered the highest grow ...
... Belize, citrus production made a good recovery from the effects of Hurricane Iris and also sugar and banana production posted solid growth. Manufacturing activity, although not one of the high-growth sectors in the regional economy, did show positive signs. In Jamaica, it registered the highest grow ...
IMF Bentham – value trap or opportunity? 04
... maximise payoffs for clients, it is difficult to accurately predict when a case will conclude. A lumpy earning’s profile makes it harder to determine IMF’s ‘normal’ level of earnings and whether, for example, short term underperformance reflects longer term deterioration. For instance, after modest ...
... maximise payoffs for clients, it is difficult to accurately predict when a case will conclude. A lumpy earning’s profile makes it harder to determine IMF’s ‘normal’ level of earnings and whether, for example, short term underperformance reflects longer term deterioration. For instance, after modest ...
Do they walk like they talk? - Canadian Political Science Association
... of how a government plans to finance its spending program. Thus a deficit tells one that a government chose not to levy all the taxes that its spending program would require but rather decided to finance part of its spending through borrowing. A surplus shows that a government renounced to consume a ...
... of how a government plans to finance its spending program. Thus a deficit tells one that a government chose not to levy all the taxes that its spending program would require but rather decided to finance part of its spending through borrowing. A surplus shows that a government renounced to consume a ...
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... rate by 1 percentage point duties (-0.1% of GDP); (0.9% of GDP). Additional investment allowance for companies (-0.1% of GDP); Additional investment allowance for sole proprietors (-0.2% of GDP). Change of the system of VAT returns (-0.56% of GDP); Increase of VAT from 18% to 19% (0.9% of GDP). ...
... rate by 1 percentage point duties (-0.1% of GDP); (0.9% of GDP). Additional investment allowance for companies (-0.1% of GDP); Additional investment allowance for sole proprietors (-0.2% of GDP). Change of the system of VAT returns (-0.56% of GDP); Increase of VAT from 18% to 19% (0.9% of GDP). ...
October 13, 2014
... concern that a less supportive external environment could stifle Poland's recovering economy. The bank's rate-setting Monetary Policy Council (MPC) had been expected to cut rates, but markets were expecting a more conservative quarter-point reduction. "The 50bp cut, to 2.00%, was larger than we, the ...
... concern that a less supportive external environment could stifle Poland's recovering economy. The bank's rate-setting Monetary Policy Council (MPC) had been expected to cut rates, but markets were expecting a more conservative quarter-point reduction. "The 50bp cut, to 2.00%, was larger than we, the ...
Natural-Resource Depletion, Habit Formation, and
... transition period up until end-1998, the budget was to contribute an exceptional endowment, which the regional central bank was to manage in a special account (Art. 14). Implementation. The transitional stipulations have been applied also in the following years, with FGF funds being held by the Banq ...
... transition period up until end-1998, the budget was to contribute an exceptional endowment, which the regional central bank was to manage in a special account (Art. 14). Implementation. The transitional stipulations have been applied also in the following years, with FGF funds being held by the Banq ...
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... recovery in 2009, once again exceeded expectations with strong, broad-based economic growth in 2010. With rising consumer and investor confidence, the private sector is driving the economies forward. Years of prudent macroeconomic management also paid off well. Unlike many developed economies, South ...
... recovery in 2009, once again exceeded expectations with strong, broad-based economic growth in 2010. With rising consumer and investor confidence, the private sector is driving the economies forward. Years of prudent macroeconomic management also paid off well. Unlike many developed economies, South ...
QUEST model Cohesion 2000 06 Warsaw
... to catch a rent in the form of share of the transfers. Competition for resources absorbs resources that can no longer be used productively. Diversion of funds to consumption: increase in future consumption possibilities will lead to a higher consumption on impact (consumption-smoothing) to the detri ...
... to catch a rent in the form of share of the transfers. Competition for resources absorbs resources that can no longer be used productively. Diversion of funds to consumption: increase in future consumption possibilities will lead to a higher consumption on impact (consumption-smoothing) to the detri ...
EMERGING SOVEREIGN GROUP, LLC
... The European policy response has constantly remained behind the curve and while LTROs and promises of renewed ECB bond buying have reduced the risk of a complete collapse of the financial system, there has been no meaningful change to long-term sustainability of public finances, the banking sector ...
... The European policy response has constantly remained behind the curve and while LTROs and promises of renewed ECB bond buying have reduced the risk of a complete collapse of the financial system, there has been no meaningful change to long-term sustainability of public finances, the banking sector ...
The_Caribbean_en.pdf
... reduced the effect of higher oil prices on transport costs. Lastly, the Atlantis tourist complex is due to complete its Phase III expansion in New Providence in 2006, after which major construction is expected to begin in Cable Beach. Construction activity picked up thanks to increased investment in ...
... reduced the effect of higher oil prices on transport costs. Lastly, the Atlantis tourist complex is due to complete its Phase III expansion in New Providence in 2006, after which major construction is expected to begin in Cable Beach. Construction activity picked up thanks to increased investment in ...
Comparisons of OECD Debt
... peacetime. 1 As bad as these fiscal problems may appear, relying solely on these official figures is almost certainly very misleading. Rapidly ageing populations present a number of countries with the prospect of enormous future costs that are not wholly recognised in current budget projections. The ...
... peacetime. 1 As bad as these fiscal problems may appear, relying solely on these official figures is almost certainly very misleading. Rapidly ageing populations present a number of countries with the prospect of enormous future costs that are not wholly recognised in current budget projections. The ...
Government Debt
... and to avoid suspended payments. In the long run, the country is dependent of a wellfunctioning government finance and high growth. Countries have the opportunity to borrow as long as they are able to repay loans, although the problems arise when the confidence in a country's ability of paying back ...
... and to avoid suspended payments. In the long run, the country is dependent of a wellfunctioning government finance and high growth. Countries have the opportunity to borrow as long as they are able to repay loans, although the problems arise when the confidence in a country's ability of paying back ...
Integrating a System of Child Benefits Into Egypt*s Fiscal Space
... much does it cost?, and iii) how can the policy be financed within Egypt’s fiscal space?. Furthermore, the study highlights key underlying factors that shape the design of effective policy response, such as Egypt’s favourable demographic profile, which is characterized by working age population grow ...
... much does it cost?, and iii) how can the policy be financed within Egypt’s fiscal space?. Furthermore, the study highlights key underlying factors that shape the design of effective policy response, such as Egypt’s favourable demographic profile, which is characterized by working age population grow ...
Macro prudential measures and housing markets A note on
... policy changes. The authors are aware of this and are cautious in their interpretation of the results.7 Krznar and Morsink (2014) study various macroprudential policies regarding housing finance in Canada. The authors begin by providing an overview of the housing finance in Canada focusing on the go ...
... policy changes. The authors are aware of this and are cautious in their interpretation of the results.7 Krznar and Morsink (2014) study various macroprudential policies regarding housing finance in Canada. The authors begin by providing an overview of the housing finance in Canada focusing on the go ...
The Federal Government Debt: Its Size and
... productive capital below what it might otherwise have been. That would tend to reduce the longrun rate of growth. In the long run, the relationship between the growth rate of the federal debt and the overall rate of economic growth is critical to economic stability. As long as the debt grows more ra ...
... productive capital below what it might otherwise have been. That would tend to reduce the longrun rate of growth. In the long run, the relationship between the growth rate of the federal debt and the overall rate of economic growth is critical to economic stability. As long as the debt grows more ra ...
Why is fiscal policy often procyclical?
... This optimization problem has been analyzed in the literature (cf. Ljungqvist and Sargent (2000, ch. 14). In particular, Aiyagari (1994) has shown that, if income is i.i.d. and the interest rate equals the rate of time discount (as is in our model), then asymptotically debt diverges to −∞, i.e., the ...
... This optimization problem has been analyzed in the literature (cf. Ljungqvist and Sargent (2000, ch. 14). In particular, Aiyagari (1994) has shown that, if income is i.i.d. and the interest rate equals the rate of time discount (as is in our model), then asymptotically debt diverges to −∞, i.e., the ...
Time-Consistent Fiscal Policy in a Debt Crisis - e
... is key for capturing major trade-offs when setting the optimal policy mix. The government has a utilitarian objective function but cannot commit to the future path of any of its policy instruments and we focus on Markov-Perfect equilibria. In traditional sovereign debt models, the government is conc ...
... is key for capturing major trade-offs when setting the optimal policy mix. The government has a utilitarian objective function but cannot commit to the future path of any of its policy instruments and we focus on Markov-Perfect equilibria. In traditional sovereign debt models, the government is conc ...
Time-Consistent Fiscal Policy in a Debt Crisis
... is key for capturing major trade-offs when setting the optimal policy mix. The government has a utilitarian objective function but cannot commit to the future path of any of its policy instruments and we focus on Markov-Perfect equilibria. In traditional sovereign debt models, the government is conc ...
... is key for capturing major trade-offs when setting the optimal policy mix. The government has a utilitarian objective function but cannot commit to the future path of any of its policy instruments and we focus on Markov-Perfect equilibria. In traditional sovereign debt models, the government is conc ...
The Balance of Payments Accounts
... Monetary expansion (LM-LM’) – rise in money supply – rise in income (imports) – trade deficit – fall in interest rates (capital outflow) – larger deficit of the BP – larger depreciation to restore BP=0 – larger rise in net exports (shift in IS and BP line to the right) Effects: rise in income larger ...
... Monetary expansion (LM-LM’) – rise in money supply – rise in income (imports) – trade deficit – fall in interest rates (capital outflow) – larger deficit of the BP – larger depreciation to restore BP=0 – larger rise in net exports (shift in IS and BP line to the right) Effects: rise in income larger ...
CEPR POLICY INSIGHT No . 51 - Centre for Economic Policy
... industrial countries are in reasonable fiscal-financial shape. The origins of this widespread loss of fiscal control are shared by most countries and can be traced to pro-cyclical fiscal policy during the boom period preceding the financial crisis that started in August 2007, the fiscal cost of the ...
... industrial countries are in reasonable fiscal-financial shape. The origins of this widespread loss of fiscal control are shared by most countries and can be traced to pro-cyclical fiscal policy during the boom period preceding the financial crisis that started in August 2007, the fiscal cost of the ...
Loanable Funds
... The U.S. financial system is made up of financial institutions such as the bond market, the stock market, banks, and mutual funds. All these institutions act to direct the resources of households who want to save some of their income into the hands of households and firms who want to borrow. Nationa ...
... The U.S. financial system is made up of financial institutions such as the bond market, the stock market, banks, and mutual funds. All these institutions act to direct the resources of households who want to save some of their income into the hands of households and firms who want to borrow. Nationa ...
2016 Budget Speech - National Treasury
... So we are resolved to restore the momentum of growth, to ensure that it is inclusive and sustainable, and to preserve our economy’s investment-grade status. As Minister Nene put it in his October Medium Term Budget Policy Statement address: “If we do not achieve growth, revenue will not increase. If ...
... So we are resolved to restore the momentum of growth, to ensure that it is inclusive and sustainable, and to preserve our economy’s investment-grade status. As Minister Nene put it in his October Medium Term Budget Policy Statement address: “If we do not achieve growth, revenue will not increase. If ...
3. Challenges for the UK public finances
... remainder of this parliament. The targets do provide checks on fiscal policy before the public finances are returned to balance, however. The fiscal mandate, which applies to 2020–21, requires that the cyclically-adjusted (or structural) deficit – that is, the portion of the deficit that is not thou ...
... remainder of this parliament. The targets do provide checks on fiscal policy before the public finances are returned to balance, however. The fiscal mandate, which applies to 2020–21, requires that the cyclically-adjusted (or structural) deficit – that is, the portion of the deficit that is not thou ...
Fiscal Risks and Contingent Liabilities
... 1/ Number of episodes includes all episodes, average fiscal cost is calculated using only those episodes for 8 which a fiscal cost number is available. ...
... 1/ Number of episodes includes all episodes, average fiscal cost is calculated using only those episodes for 8 which a fiscal cost number is available. ...
A Role Model for the Conduct of Fiscal Policy?
... ratio was low and falling, and monetary policy was constrained by a …xed exchange rate. In 1990, it was evident that these developments were not sustainable. The …xed exchange rate in combination with high wage and price in‡ation had eroded competitiveness. External factors became less favorable whe ...
... ratio was low and falling, and monetary policy was constrained by a …xed exchange rate. In 1990, it was evident that these developments were not sustainable. The …xed exchange rate in combination with high wage and price in‡ation had eroded competitiveness. External factors became less favorable whe ...