03652nam 2200637 a 450 991045300350332120200520144314.01-4755-8971-91-4755-3723-9(CKB)2550000000107091(EBL)1606756(SSID)ssj0000944119(PQKBManifestationID)11485778(PQKBTitleCode)TC0000944119(PQKBWorkID)10983258(PQKB)10179068(MiAaPQ)EBC1606756(Au-PeEL)EBL1606756(CaPaEBR)ebr10574684(OCoLC)870244955(EXLCZ)99255000000010709120120711d2012 uy 0engurcn|||||||||txtccrWalking hand in hand[electronic resource] fiscal policy and growth in advanced economies /prepared by Carlo Cottarelli and Laura Jaramillo[Washington, D.C.] International Monetary Fund20121 online resource (30 p.)IMF working paper ;WP/12/137"Fiscal Affairs Department.""May 2012."1-4755-6544-5 1-4755-0391-1 Includes bibliographical references.Cover; Abstract; Contents; I. Introduction; II. Short-run interactions between growth and fiscal policy; Figures; 1. Historical Public Debt; 2. Impact on the Deficit to GDP of a 1 Percent of GDP Discretionary Fiscal Tightening in the First Year Relative to Baseline; 3. Impact of the Debt Ratio of a 1 Percent of GDP Discretionary Fiscal Tightening in the First Year; 4. GDP Growth and CDS Spreads; III. Long-term interactions between growth and fiscal policy; Table; 1. Determinants of CDS Spreads in Advanced Economies, Cross Section Analysis 20115. Fiscal Adjustment and CDS Spreads with Alternative Fiscal Multipliers 6. Effect on Growth of Higher Debt to GDP Ratio; 7. Potential Revenue Increases in Advanced G7 Countries; 8. Public Sector Wages in Selected G7 Countries; 9. Pension Spending Increase, 2010-30; IV. Policy Conclusions; 10. Long-term Average of Primary Balance and Real GDP Growth; 11. Effect of Growth on Debt Stabilizing Primary Surplus; Introduction; Background; Appendix; Short-run Determinants of CDS Spreads in Advanced Economies; Empirical Model Estimation; Estimation Results; Conclusions; ReferencesImplementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize long term growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policyIMF working paper ;WP/12/137.Economic developmentDeveloped countriesFiscal policyDeveloped countriesDebts, PublicDeveloped countriesElectronic books.Economic developmentFiscal policyDebts, PublicCottarelli Carlo118928Jaramillo Laura866242MiAaPQMiAaPQMiAaPQBOOK9910453003503321Walking hand in hand2042228UNINA