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Fiscal Policy for the Crisis [PDF]
IMF Staff Position Notes, 2009 The current crisis calls for two main sets of policy measures. First, measures to repair the financial system. Second, measures to increase demand and restore confidence. While some of these measures overlap, the focus of this note is on the second set of policies, and more specifically, given the limited room for monetary policy, on fiscal policy.
Antonio Spilimbergo +3 more
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Journal of Public Economics, 2002
Abstract This paper explores on a panel of 19 OECD countries the role of fragmentation in determining fiscal outcomes over the 1970–95 period. We first define the notion of fragmentation of fiscal policy-making as the degree to which the costs of a dollar of aggregate expenditure are internalized by individual decision-makers.
PEROTTI, Roberto, KONTOPOULOS, Y.
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Abstract This paper explores on a panel of 19 OECD countries the role of fragmentation in determining fiscal outcomes over the 1970–95 period. We first define the notion of fragmentation of fiscal policy-making as the degree to which the costs of a dollar of aggregate expenditure are internalized by individual decision-makers.
PEROTTI, Roberto, KONTOPOULOS, Y.
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The Economists' Voice, 2014
Abstract Monetary policy is altered once a month. Fiscal policy is altered once a year. As a potential improvement this article examines the use of feedback control rules for fiscal policy that is altered quarterly. Following the work of Blinder and Orszag, modifications are discussed in Congressional practice and institutions that ...
Kendrick, D.A., Amman, H.M.
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Abstract Monetary policy is altered once a month. Fiscal policy is altered once a year. As a potential improvement this article examines the use of feedback control rules for fiscal policy that is altered quarterly. Following the work of Blinder and Orszag, modifications are discussed in Congressional practice and institutions that ...
Kendrick, D.A., Amman, H.M.
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Japanese fiscal reform: fiscal reconstruction and fiscal policy [PDF]
Japan and the World Economy, 2001 This paper evaluates the recent movement of Japanese fiscal reform. We first summarize fiscal policy in 1990s. Then, we investigate several relevant topics of fiscal policy such as the macroeconomic impact of government debt and the sustainability problem.
Toshihiro Ihori +2 more
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Theories of Fiscal Policies and Fiscal Policies in the EMU
2007Money, Distribution and Economic Policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics and economic policy analysis.
Anthony J. Laramie, Douglas Mair
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Fiscal Policy in Real Time [PDF]
SSRN Electronic Journal, 2007 AbstractIn this paper, I estimate the ex ante or intentional cyclical stance of fiscal policy in OECD countries. I use the fiscal plans reported at the time of budgeting, together with other information available to fiscal policy‐makers in real time. Indeed, fiscal plans might be significantly different from ex post outcomes because governments do not ...
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Fiscal Policy: Fiscal Policy in a Developing Country
1964The bibliographical note appended to the last chapter in W. A. Lewis’ The Theory of Economic Growth ends with the following sentence: ‘There is regrettably very little theoretical discussion of the fiscal problems of underdeveloped countries’.2 There is ample reason for this deficiency, which has not disappeared since Lewis’ book was first published ...
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The Journal of Finance, 1965
SINCE THE END of World War II, Federal fiscal policy has been regarded as one of the Government's primary tools for promoting high-level employment and economic growth. On a theoretical level, the economic impact of over-all fiscal policy, as well as of particular fiscal measures, has been explored under a wide variety of assumptions.
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SINCE THE END of World War II, Federal fiscal policy has been regarded as one of the Government's primary tools for promoting high-level employment and economic growth. On a theoretical level, the economic impact of over-all fiscal policy, as well as of particular fiscal measures, has been explored under a wide variety of assumptions.
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Fiscal Policy and Fiscal Reform
2015This chapter examines the role of fiscal policies and fiscal institutions. In the boom years, fiscal balances were, in underlying terms, much worse than the headline figures suggested, because fiscal revenues were flattered by unsustainably high domestic demand and incomes.
Adam Bennett +3 more
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2017
Fiscal policy is the object of numerous theoretical controversies, notably during the two most recent crises: the 2009 great recession and the 2011–12 euro-area crisis. In such framework, we propose to rethink the use of fiscal policy through three elements.
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Fiscal policy is the object of numerous theoretical controversies, notably during the two most recent crises: the 2009 great recession and the 2011–12 euro-area crisis. In such framework, we propose to rethink the use of fiscal policy through three elements.
openaire +3 more sources