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  • 1
    UID:
    gbv_845891928
    Format: Online-Ressource (52 p)
    Edition: Online-Ausg.
    ISBN: 1451872801 , 9781451872804
    Series Statement: IMF Working Papers Working Paper No. 09/133
    Content: This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system''s ability to intermediate may be impaired. Previous financial crises in advanced economies passed through strongly and rapidly to emerging economies. In line with this pattern, the unprecedented spike in financial stress in advanced economies elevated financial stress across emerging economies above levels seen during the Asian crisis, but with significant cross-country variation. The extent of pass-through of financial stress is related to the depth of financial linkages between advanced and emerging economies. The paper finds that higher current account and fiscal balances do little to insulate emerging economies from the transmission of financial stress in advanced economies. However, they may help dampen the impact on the real sector of emerging economies and help reestablish financial stability and foreign capital inflows once financial stress subsides
    Additional Edition: Erscheint auch als Druck-Ausgabe Danninger, Stephan The Transmission of Financial Stress from Advanced to Emerging Economies Washington, D.C. : International Monetary Fund, 2009 ISBN 9781451872804
    Language: English
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  • 2
    UID:
    b3kat_BV022550392
    Format: 49 S. , graph. Darst.
    Series Statement: CESifo working papers 1957 : Category 5, Fiscal policy, macroeconomics and growth
    Language: English
    Subjects: Economics
    RVK:
    Keywords: Welthandel ; Export ; Konjunkturabschwung ; Deutschland ; Exportmarkt ; Konjunkturaufschwung ; Geschichte 2000-2007
    URL: Volltext  (kostenfrei)
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  • 3
    Online Resource
    Online Resource
    [Washington, District of Columbia] :International Monetary Fund,
    UID:
    edoccha_9958124722802883
    Format: 1 online resource (23 p.)
    Edition: 1st ed.
    ISBN: 1-4623-5882-9 , 1-4527-9650-5 , 1-4518-7033-7 , 9786612841262 , 1-282-84126-2
    Series Statement: IMF working paper ;
    Content: Increases in German core inflation following the 2007 VAT hike were smaller than expected, leading to speculation about delayed inflationary effects. This paper argues to the contrary that price increases in advance of the VAT hike explain the small increase upon implementation. We find that core inflation rose by 0.36 percentage point in the run up and by a further 0.40 percentage point at the time of the VAT hike. Cumulatively, the tax hike contributed to two thirds of the increase in core inflation in 2006-07 at an estimated pass-through of 73 percent. Most of the increase in 2006 was of general nature, while about one sixth can be attributed to durable goods and items with low degree of competition.
    Note: Description based upon print version of record. , Contents; I. Introduction; II. Stylized Facts and Rationale for Inflation Smoothing; III. Empirical Analysis; IV. Conclusions; References; Appendix; I. Data; II. Method; III. Calculating The Effect on Core Inflation , English
    Additional Edition: ISBN 1-4519-1486-5
    Language: English
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  • 4
    Online Resource
    Online Resource
    [Washington, D.C.] :International Monetary Fund, Fiscal Affair Dept.,
    UID:
    edoccha_9958116093402883
    Format: 1 online resource (21 p.)
    ISBN: 1-4623-7204-X , 1-4527-7338-6 , 1-282-06116-X , 9786613799135 , 1-4519-0569-6
    Series Statement: IMF working paper ; WP/05/14
    Content: Budget revenue forecasts should be best estimates of expected receipts. Often they are not. This paper analyzes the rationale for overstated revenue forecasts and derives conditions for intentional biases. A theoretical model demonstrates that overstated revenue forecasts can be the result of the government's attempt to boost unobserved revenue collection effort. If positive forecast errors are costly and undermine public credibility of budget expenditure plans, the reverse outcome is possible and governments may understate revenue forecasts. A case study for Azerbaijan is presented in support of the former incentive motive.
    Note: "January 2005." , ""Contents""; ""INTRODUCTION""; ""I. RELATED LITERATURE""; ""II. MODEL SYNOPSIS""; ""III. BIASED REVENUE FORECASTS: THE CASE OF AZERBAIJAN""; ""A. Background""; ""B. Institutional Independence and the Forecasting Process""; ""C. Overstated Revenue in Azerbaijan""; ""IV. CONCLUSIONS AND OUTLOOK""; ""REFERENCES"" , English
    Additional Edition: ISBN 1-4518-6033-1
    Language: English
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  • 5
    UID:
    edocfu_9958072907802883
    Format: 1 online resource (32 p.)
    ISBN: 1-4623-3263-3 , 1-4527-0270-5 , 1-282-60714-6 , 9786613822727 , 1-4519-1063-0
    Series Statement: IMF working paper ; WP/07/46
    Content: In 2005, the German government announced a far-reaching fiscal adjustment program. This paper uses the IMF’s Global Fiscal Model to study its impact and explores options for addressing long-term pressures from population aging. The growth effects of the planned VAT increase are likely modest, largely owing to the stimulating effect of other tax reductions. The reform will improve the long-term debt path but achieving fiscal sustainability requires further adjustment over the medium term. An additional package of expenditure restraint, entitlement reform, and tax-base broadening compares favorably to other adjustment options. Spillover effects to trading partners of these policies are modest.
    Note: "February 2007". , Contents; I. Introduction; II. Analytical Framework and Calibration; III. Assessing Tax Policy Proposals; IV. Achieving Long-Term Sustainability; A. Comparing Tax Measures; B. Ranking Different Adjustment Strategies; C. Effects of Different Phasing of the Adjustment; V. Spillover Effects; VI. Sensitivity Analysis; VII. Conclusions; References , English
    Additional Edition: ISBN 1-4518-6610-0
    Language: English
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  • 6
    Online Resource
    Online Resource
    [Washington, D.C.] :International Monetary Fund, European Dept.,
    UID:
    edocfu_9958096173202883
    Format: 1 online resource (51 p.)
    ISBN: 1-4623-8510-9 , 1-4527-9452-9 , 1-283-51510-5 , 9786613827555 , 1-4519-1041-X
    Series Statement: IMF working paper ; WP/07/24
    Content: Germany's export market share increased since 2000, while most industrial countries experienced declines. This study explores four explanations and evaluates their empirical contributions: (i) improved cost competitiveness, (ii) ties to fast growing trading partners, (iii) increased demand for capital goods, and (iv) regionalized production of goods (e.g. offshoring). An export model is estimated covering the period 1993-2005. The dominant factors explaining the increase in market share are trade relationships with fast growing countries and regionalized production in the export sector. Improved cost competitiveness had a comparatively smaller impact. There is no conclusive evidence of increased demand for capital goods.
    Note: "February 2007". , Contents; I. Introduction; II. Potential Explanations and Stylized Facts; 1. Cost Competitiveness Through Wage Moderation; 2. Ties to Booming Trading Partner; 3. Meeting Global Investment Demand; 4. Regionalization of Production Processes; III. Disentangling Export Demand; A. Data; B. Empirical Model and Results; IV. Quantifying the Contributions to Gains in Export Market Share; V. Conclusion; References; Appendices; A. Variable Descriptions; B. Econometric Analysis , English
    Additional Edition: ISBN 1-4518-6588-0
    Language: English
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  • 7
    Online Resource
    Online Resource
    [Washington, D.C.] :International Monetary Fund, Fiscal Affairs Dept.,
    UID:
    edocfu_9958086323502883
    Format: 1 online resource (23 p.)
    ISBN: 1-4623-1553-4 , 1-4527-1687-0 , 1-282-04227-0 , 1-4519-0579-3 , 9786613797209
    Series Statement: IMF working paper ; WP/05/24
    Content: This paper takes stock of revenue forecasting practices in low-income countries, and provides a comprehensive and condensed account of the revenue forecasting process. Based on a new dataset on 34 low-income countries, it catalogues forecasting practices and procedures from inception until budget submission, focusing primarily on institutional aspects and processes. The paper also synthesizes three key characteristics of forecasting practices, formality, organizational simplicity, and transparency, and empirically explores their determinants. High levels of country corruption are associated with less formal and less transparent forecasts. Past IMF involvement in a country increases the formality of the process, but does not improve public access to information.
    Note: "February 2005." , ""Contents""; ""I. INTRODUCTION""; ""II. THE DATASET""; ""III. DESCRIPTION OF SURVEY RESULTS""; ""A. Scope and Horizon of Revenue Forecasts""; ""B. The Macroeconomic Forecast: An Effective Input into the Revenue Forecast?""; ""C. Who Does What in the Forecasting Process?""; ""D. How and When Are Revenue Forecasts Done?""; ""E. What Does the Public Know About the Revenue Forecast?""; ""F. Data and Methods""; ""IV. THREE INDICES OF FORECASTING PRACTICES""; ""A. Index of Formality""; ""B. Index of Organizational Simplicity""; ""C. Transparency Index of the Forecasting Process"" , ""D. Determinants of Forecasting Practices""""V. CONCLUSIONS""; ""REFERENCES"" , English
    Additional Edition: ISBN 1-4518-6043-9
    Language: English
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  • 8
    UID:
    edocfu_9958108013702883
    Format: 1 online resource (35 p.)
    ISBN: 1-4623-5991-4 , 1-4519-9139-8 , 1-283-51525-3 , 9786613827708 , 1-4519-0782-6
    Series Statement: IMF working paper ;no. 05/227
    Content: This study explores the effects of labor and product market deregulation on employment growth. Our empirical results, based on an OECD country panel from 1990-2004, suggest that lower levels of product and labor market regulation foster employment growth, including through sizable interaction effects. Based on these findings, the paper develops a theoretical framework for evaluating deregulation strategies in the presence of reform costs. Optimal deregulation takes various forms depending on the deregulation costs, the strength of reform interactions, and the perspective of the policymaker. Unless deregulation costs are very asymmetric across markets, optimal deregulation requires some form of coordination.
    Note: "December 2005." , ""Contents""; ""I. INTRODUCTION""; ""II. THE THEORETICAL ARGUMENT""; ""III. EMPIRICAL EVIDENCE: EMPLOYMENT EFFECTS OF REGULATION""; ""IV. IMPLICATIONS FOR THE POLITICAL ECONOMY OF DEREGULATION""; ""V. CONCLUDING REMARKS""; ""Appendix: Illustrating the Interaction Effect""; ""References"" , English
    Additional Edition: ISBN 1-4518-6246-6
    Language: English
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  • 9
    UID:
    gbv_845871234
    Format: Online-Ressource (44 p)
    Edition: Online-Ausg.
    ISBN: 145185885X , 9781451858853
    Series Statement: IMF Working Papers Working Paper No. 99/177
    Content: This paper examines the regional distribution of public employment in Italy and documents two sets of facts. The first is the use of public employment as a subsidy from the North to the less wealthy South. We calculate that about half of the wage bill in the South of Italy can be identified as a subsidy, with both the size of public employment and wage levels used as a redistributive device. The second set of facts concerns the negative effects of subsidized public employment on individuals’ attitudes toward job search, education, and “risk-taking” activities. We conclude that heavy reliance on public employment distorts incentives and discourages the development of market activities in the South
    Additional Edition: Erscheint auch als Druck-Ausgabe Danninger, Stephan Redistribution Through Public Employment: The Case of Italy Washington, D.C. : International Monetary Fund, 1999 ISBN 9781451858853
    Language: English
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  • 10
    Online Resource
    Online Resource
    Washington, D.C : International Monetary Fund
    UID:
    gbv_845886029
    Format: Online-Ressource (21 p)
    Edition: Online-Ausg.
    ISBN: 1451870337 , 9781451870336
    Series Statement: IMF Working Papers Working Paper No. 08/175
    Content: Increases in German core inflation following the 2007 VAT hike were smaller than expected, leading to speculation about delayed inflationary effects. This paper argues to the contrary that price increases in advance of the VAT hike explain the small increase upon implementation. We find that core inflation rose by 0.36 percentage point in the run up and by a further 0.40 percentage point at the time of the VAT hike. Cumulatively, the tax hike contributed to two thirds of the increase in core inflation in 2006-07 at an estimated pass-through of 73 percent. Most of the increase in 2006 was of general nature, while about one sixth can be attributed to durable goods and items with low degree of competition
    Additional Edition: Erscheint auch als Druck-Ausgabe Danninger, Stephan Inflation Smoothing and the Modest Effect of VAT in Germany Washington, D.C. : International Monetary Fund, 2008 ISBN 9781451870336
    Language: English
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