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  • 1
    Online Resource
    Online Resource
    The Size And Effectiveness of Automatic Fiscal Stabilizers In Latin America (2007)
    Washington, D.C : The World Bank
    Details
    UID:
    b3kat_BV049074378
    Format: 1 Online-Ressource (54 Seiten))
    Edition: Online-Ausg
    Content: This paper measures the size of automatic fiscal revenue stabilizers and evaluates their role in Latin America. It introduces a relatively rich tax structure into a dynamic, stochastic, multi-sector small open economy inhabited by rule-of-thumb consumers (who consume their wages and do not save or borrow) and Ricardian households to study the stabilizing properties of different parameters of the tax code. The economy faces multiple sources of business cycle fluctuations: (1) world capital market shocks; (2) world business cycle shocks; (3) terms of trade shocks; (4) government spending shocks; and (5) nontradable and (6) tradable sector technology innovations. Calibrating the model economy to a typical Latin American economy allows the evaluation of its ability to mimic the region's observed business cycle frequency properties and the assessment of the quantitative relationship between tax code parameters, business cycle forcing variables, and business cycle behavior. The model captures many of the salient features of Latin America's business cycle facts and finds that the degree of smoothing provided by the automatic revenue stabilizers-described by various properties of the tax system-is negligible. Simulation results seem to suggest an invariance property for middle-income countries: the amplitude of the business cycle is independent of the tax structure. And government size-measured by the GDP ratio of government spending-plays the role of an automatic stabilizer, but its smoothing effect is very weak
    Additional Edition: Suescun, Rodrigo The Size And Effectiveness of Automatic Fiscal Stabilizers In Latin America
    Language: English
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    Online Access
    HWR Berlin
    UB Potsdam
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
    MPI Bildungsforschung
  • 2
    Online Resource
    Online Resource
    Raising revenue with transaction taxes in Latin America : Or is it better to tax with the devil you know? (2004)
    Washington, D.C : World Bank
    Details
    UID:
    b3kat_BV049075343
    Format: 1 Online-Ressource
    Edition: Online-Ausg Also available in print
    Series Statement: Policy research working paper 3279
    Note: "April 21, 2004 , Includes bibliographical references , Title from title screen as viewed on May 15, 2004
    Additional Edition: Suescun, Rodrigo Raising revenue with transaction taxes in Latin America
    Language: English
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Online Access
    HWR Berlin
    UB Potsdam
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
    MPI Bildungsforschung
  • 3
    Online Resource
    Online Resource
    Fiscal policy, stabilization, and growth : prudence or abstinence? (2008)
    Washington, D.C. :World Bank,
    Details
    UID:
    almahu_9949190434302882
    Format: xx, 329 pages : , illustrations ; , 23 cm.
    ISBN: 0821370847 , 0821370855 , 9780821370841 , 9780821370858
    Series Statement: Latin American development forum series
    Note: Overview: fiscal policy, economic fluctuations and growth / Guillermo Perry, Luis Serven, Rodrigo Suescun and Timothy Irwin -- Procyclical fiscal policy and volatility -- Fiscal discipline, volatility and growth / Antonio Fatas and Ilian Mihov -- The size and effectiveness of fiscal automatic stabilizers in Latin America / Rodrigo Suescun -- Fiscal federalism and procyclical spending: the cases of Argentina and Brazil / Federico Sturzenegger and Rogerio Werneck -- Fiscal rules and procyclicality / Guillermo Perry -- Fiscal policy and growth -- Fiscal discipline, public investment and growth / Luis Serven -- Incentives for public investment under fiscal rules / Jack Mintz and Michael Smart -- Improving the SGP through a proper accounting of public investment / Oliver Blanchard and Francesco Giavazzi -- Accrual accounting, long-term fiscal projections, and public investment / Timothy Irwin -- Growth and fiscal effects of infrastructure investment in Brazil / Pedro Cavalcanti Ferreira and Carlos Hamilton Vasconcelos Araujo.
    Additional Edition: Print Version: ISBN 9780821370841
    Language: English
    URL: http://elibrary.worldbank.org/doi/book/10.1596/978-0-8213-7084-1
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Online Access
    HU Berlin
    FU Berlin
    UB Potsdam
    Charité
    MPI Bildungsforschung
  • 4
    Online Resource
    Online Resource
    Fiscal policy, stabilization, and growth : prudence or abstinence? (2008)
    Washington, D.C : World Bank
    Details
    UID:
    b3kat_BV040615912
    Format: 1 Online-Ressource (xx, 329 p) , ill , 23 cm
    Edition: Online-Ausgabe World Bank E-Library Archive Sonstige Standardnummer des Gesamttitels: 041181-4
    ISBN: 0821370847 , 0821370855 , 9780821370841 , 9780821370858
    Series Statement: Latin American development forum series
    Note: Includes bibliographical references and index , Erscheinungsjahr in Vorlageform:c2008
    Additional Edition: Reproduktion von Fiscal policy, stabilization, and growth 2008
    Language: English
    Keywords: Lateinamerika ; Finanzpolitik ; Stabilitätspolitik ; Wirtschaftswachstum ; Aufsatzsammlung
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Online Access
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 5
    Online Resource
    Online Resource
    Fiscal space for investment in infrastructure in Colombia (2005)
    [Washington, D.C] : World Bank
    Details
    UID:
    b3kat_BV049074995
    Format: 1 Online-Ressource
    Edition: Online-Ausg Also available in print
    Series Statement: Policy research working paper 3629
    Content: "For the evaluation of macroeconomic policies Colombian authorities rely heavily, if not exclusively, on the operational framework known as the Financial Programming Model developed by the International Monetary Fund in the 1950s. Based on this static framework, the formulation of fiscal policy in the country, just as in various Latin American countries, focuses primarily on fiscal deficit and gross debt targets. However, the type of fiscal policy advice derived from it is not useful for understanding the asset-creating nature and the inter-temporal tradeoffs involved in public investment decisions. The author develops a perfect foresight, dynamic small open economy model to provide an alternative framework for fiscal analysis and policy purposes. He shows that the two competing frameworks deliver differing paths for the expected behavior of the Colombian economy. He then uses the proposed framework to study the likely consequences of using public capital spending to achieve deficit targets since, in addition to an already high public debt, in the years ahead unfunded pension obligations will put enormous pressure on the Colombian government's solvency. The results indicate that public capital compression is costly in terms of foregone growth and very ineffective in achieving fiscal consolidation. The adoption of fiscal rules such as the golden rule or the permanent balance rule to shield public investment from undue budgetary pressures makes little sense in the presence of sustainability concerns. The author shows that a transitory capital spending increase is not self-amortizing in the long run; hence an extra peso of public capital spending deteriorates the inter-temporal fiscal position. A permanent increase largely pays for itself in terms of additional tax revenue but this effect is offset by a deterioration of infrastructure user charges, as long as public prices are determined competitively. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 8/22/2005
    Additional Edition: Suescun, Rodrigo Fiscal space for investment in infrastructure in Colombia
    Language: English
    URL: Volltext  (URL des Erstveröffentlichers)
    URL: Volltext
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    HWR Berlin
    EUV Frankfurt
    TH Brandenburg
    HTW Berlin
  • 6
    Online Resource
    Online Resource
    The Size and Effectiveness of Automatic Fiscal Stabilizers in Latin America / (2007)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958074873502883
    Format: 1 online resource (54 pages)
    Series Statement: Policy research working papers.
    Content: This paper measures the size of automatic fiscal revenue stabilizers and evaluates their role in Latin America. It introduces a relatively rich tax structure into a dynamic, stochastic, multi-sector small open economy inhabited by rule-of-thumb consumers (who consume their wages and do not save or borrow) and Ricardian households to study the stabilizing properties of different parameters of the tax code. The economy faces multiple sources of business cycle fluctuations: (1) world capital market shocks; (2) world business cycle shocks; (3) terms of trade shocks; (4) government spending shocks; and (5) nontradable and (6) tradable sector technology innovations. Calibrating the model economy to a typical Latin American economy allows the evaluation of its ability to mimic the region's observed business cycle frequency properties and the assessment of the quantitative relationship between tax code parameters, business cycle forcing variables, and business cycle behavior. The model captures many of the salient features of Latin America's business cycle facts and finds that the degree of smoothing provided by the automatic revenue stabilizers-described by various properties of the tax system-is negligible. Simulation results seem to suggest an invariance property for middle-income countries: the amplitude of the business cycle is independent of the tax structure. And government size-measured by the GDP ratio of government spending-plays the role of an automatic stabilizer, but its smoothing effect is very weak.
    Language: English
    DOI: 10.1596/1813-9450-4244
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Open Access Request
    FU Berlin
    Charité
  • 7
    Online Resource
    Online Resource
    Fiscal policy, stabilization, and growth : prudence or abstinence? (2008)
    Washington, D.C : World Bank
    Details
    UID:
    b3kat_BV049077321
    Format: 1 Online-Ressource (xx, 329 Seiten) , ill , 23 cm
    Edition: Online-Ausg
    ISBN: 0821370847 , 0821370855 , 9780821370841 , 9780821370858
    Series Statement: Latin American development forum series
    Note: Includes bibliographical references and index
    Language: English
    URL: Volltext  (URL des Erstveröffentlichers)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    EUV Frankfurt
    HTW Berlin
  • 8
    Online Resource
    Online Resource
    Fiscal space for investment in infrastructure in Colombia (2005)
    [Washington, D.C] : World Bank
    Details
    UID:
    gbv_724216189
    Format: Online-Ressource
    Edition: Online-Ausg. World Bank E-Library Archive Also available in print
    Series Statement: Policy research working paper 3629
    Content: "For the evaluation of macroeconomic policies Colombian authorities rely heavily, if not exclusively, on the operational framework known as the Financial Programming Model developed by the International Monetary Fund in the 1950s. Based on this static framework, the formulation of fiscal policy in the country, just as in various Latin American countries, focuses primarily on fiscal deficit and gross debt targets. However, the type of fiscal policy advice derived from it is not useful for understanding the asset-creating nature and the inter-temporal tradeoffs involved in public investment decisions. The author develops a perfect foresight, dynamic small open economy model to provide an alternative framework for fiscal analysis and policy purposes. He shows that the two competing frameworks deliver differing paths for the expected behavior of the Colombian economy. He then uses the proposed framework to study the likely consequences of using public capital spending to achieve deficit targets since, in addition to an already high public debt, in the years ahead unfunded pension obligations will put enormous pressure on the Colombian government's solvency. The results indicate that public capital compression is costly in terms of foregone growth and very ineffective in achieving fiscal consolidation. The adoption of fiscal rules such as the golden rule or the permanent balance rule to shield public investment from undue budgetary pressures makes little sense in the presence of sustainability concerns. The author shows that a transitory capital spending increase is not self-amortizing in the long run; hence an extra peso of public capital spending deteriorates the inter-temporal fiscal position. A permanent increase largely pays for itself in terms of additional tax revenue but this effect is offset by a deterioration of infrastructure user charges, as long as public prices are determined competitively. "--World Bank web site
    Note: Includes bibliographical references , Title from PDF file as viewed on 8/22/2005 , Also available in print.
    Additional Edition: Suescun, Rodrigo Fiscal space for investment in infrastructure in Colombia
    Language: English
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Online Access
    UB Potsdam
    MPI Bildungsforschung
  • 9
    Online Resource
    Online Resource
    Fiscal policy, stabilization, and growth : prudence or abstinence? (2008)
    Washington, D.C. :World Bank,
    Details
    UID:
    almafu_9958095820602883
    Format: xx, 329 pages : , illustrations ; , 23 cm.
    Edition: 1st ed.
    ISBN: 1-281-09985-6 , 9786611099855 , 0-8213-7085-5
    Series Statement: Latin American development forum series
    Content: Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As
    Note: Description based upon print version of record. , Overview: fiscal policy, economic fluctuations and growth / Guillermo Perry, Luis Serven, Rodrigo Suescun and Timothy Irwin -- Procyclical fiscal policy and volatility -- Fiscal discipline, volatility and growth / Antonio Fatas and Ilian Mihov -- The size and effectiveness of fiscal automatic stabilizers in Latin America / Rodrigo Suescun -- Fiscal federalism and procyclical spending: the cases of Argentina and Brazil / Federico Sturzenegger and Rogerio Werneck -- Fiscal rules and procyclicality / Guillermo Perry -- Fiscal policy and growth -- Fiscal discipline, public investment and growth / Luis Serven -- Incentives for public investment under fiscal rules / Jack Mintz and Michael Smart -- Improving the SGP through a proper accounting of public investment / Oliver Blanchard and Francesco Giavazzi -- Accrual accounting, long-term fiscal projections, and public investment / Timothy Irwin -- Growth and fiscal effects of infrastructure investment in Brazil / Pedro Cavalcanti Ferreira and Carlos Hamilton Vasconcelos Araujo. , English
    Additional Edition: ISBN 0-8213-7084-7
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    FU Berlin
    Charité
  • 10
    Online Resource
    Online Resource
    Fiscal space for investment in infrastructure in Colombia / (2005)
    [Washington, D.C. :World Bank,
    Details
    UID:
    almafu_9958123365002883
    Series Statement: Policy research working paper ; 3629
    Content: "For the evaluation of macroeconomic policies Colombian authorities rely heavily, if not exclusively, on the operational framework known as the Financial Programming Model developed by the International Monetary Fund in the 1950s. Based on this static framework, the formulation of fiscal policy in the country, just as in various Latin American countries, focuses primarily on fiscal deficit and gross debt targets. However, the type of fiscal policy advice derived from it is not useful for understanding the asset-creating nature and the inter-temporal tradeoffs involved in public investment decisions. The author develops a perfect foresight, dynamic small open economy model to provide an alternative framework for fiscal analysis and policy purposes. He shows that the two competing frameworks deliver differing paths for the expected behavior of the Colombian economy. He then uses the proposed framework to study the likely consequences of using public capital spending to achieve deficit targets since, in addition to an already high public debt, in the years ahead unfunded pension obligations will put enormous pressure on the Colombian government's solvency. The results indicate that public capital compression is costly in terms of foregone growth and very ineffective in achieving fiscal consolidation. The adoption of fiscal rules such as the golden rule or the permanent balance rule to shield public investment from undue budgetary pressures makes little sense in the presence of sustainability concerns. The author shows that a transitory capital spending increase is not self-amortizing in the long run; hence an extra peso of public capital spending deteriorates the inter-temporal fiscal position. A permanent increase largely pays for itself in terms of additional tax revenue but this effect is offset by a deterioration of infrastructure user charges, as long as public prices are determined competitively. "--World Bank web site.
    Note: Title from PDF file as viewed on 8/22/2005. , Also available in printing.
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    FU Berlin
    Charité
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