UID:
edocfu_9958077049302883
Umfang:
1 online resource (40 p.)
ISBN:
1-4623-4876-9
,
1-4527-7534-6
,
1-282-44818-8
,
9786613821379
,
1-4519-1195-5
Serie:
IMF working paper ; WP/07/178
Inhalt:
The paper analyzes the determinants of success of recent fiscal consolidations in the OECD countries as well as the short-run and long-run effects of fiscal adjustments on economic activity by looking at fourteen case studies, panel data for OECD countries, and the results of simulations using a non-Ricardian multi-country dynamic general equilibrium model. The study finds that while fiscal consolidations tend to have short-run contractionary effects, they can be expansionary in the long run, provided that they do not rely excessively on cuts in productive government expenditure. They can also create positive spillover effects for the rest of the world.
Anmerkung:
"July 2007."
,
Contents; I. Introduction; II. Identifying Episodes and Determinants of Fiscal Adjustment; A. Identifying Episodes of Successful Fiscal Adjustment; B. Potential Determinants of Fiscal Consolidation Success; Tables; 1. Fiscal Consolidation Episodes for Case Studies; III. Case Studies; A. Political, Macroeconomic, and Fiscal Background; 2. Recent Fiscal Consolidation Attempts in Selected Countries: Background; B. Adjustment Basis; 3. Recent Fiscal Consolidation Attempts in Selected Countries: Adjustment Basis; C. Adjustment at the Subnational Level; D. Structural Reforms
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4. Recent Fiscal Consolidation Attempts in Selected Countries: Subnational Adjustments5. Recent Fiscal Consolidation Attempts in Selected Countries: Structural Reforms; 6. Recent Fiscal Consolidation Attempts in Selected Countries: Mobilization of Popular Support; E. Mobilization of Popular Support; IV. Cross-Section Analysis; A. Bivariate Relationships; B. Multivariate Analysis; 7. Cyclically Adjusted Primary Balance: Correlations with Explanatory Variables; V. Macroeconomic Developments Following Fiscal Adjustments; A. Prior Work; B. GIMF Simulations; Figures
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1. Impact of Fiscal Consolidation on the Domestic Economy (United States)2. Impact of Fiscal Consolidation in the United States on the Rest of the World; C. Evidence from Case Studies; 8. Recent Fiscal Consolidation Attempts in Selected Countries: Subsequent Developments.; VI. Conclusion; References; A1. Fiscal Consolidations with Highest Success (S = 3), 1990-2005; Appendixes; I: Threshold Approach to Identifying Fiscal Consolidation Success; A2. Fiscal Consolidations with Moderate Success (S = 2), 1990-2005; A3. Fiscal Consolidations with Low Success (S = 1), 1990-2005
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II: Cross-Section Methodology, Data, and ResultsA4. Estimation on Results: Core Macroeconomic Controls; A5. Estimation Resuls: Adding Composition, Political, and Institutional Factors
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English
Weitere Ausg.:
ISBN 1-4518-6742-5
Sprache:
Englisch
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