05241oam 22011414 450 991082597380332120200520144314.01-4623-8402-11-4527-1273-597866128437161-4518-7305-01-282-84371-0(CKB)3170000000055311(EBL)1608376(SSID)ssj0000940820(PQKBManifestationID)11494015(PQKBTitleCode)TC0000940820(PQKBWorkID)10955895(PQKB)10962661(OCoLC)645187158(MiAaPQ)EBC1608376(IMF)WPIEE2009158(IMF)WPIEA2009158(EXLCZ)99317000000005531120020129d2009 uf 0engurcn|||||||||txtccrFiscal Cycles in the Caribbean /Juliana Araujo1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (29 p.)IMF Working PapersDescription based upon print version of record.1-4519-1733-3 Includes bibliographical references.Contents; I. Introduction; Figures; 1. Public Sector Debt in Selected Emerging Market Countries, end-2008; II. Business Cycles; A. Descriptive Statistics; Tables; 1. Composition of Fiscal Accounts; B. Fiscal Policy; 2. Expected Correlation of Fiscal Variables and the Business Cycle; 3. Cyclicality of Fiscal Revenue by Type; 4. Correlation of Cyclical Component of Real Government Revenue and Real GDP; 5. Cyclicality of Fiscal Expenditure by Type; 2. Cyclical Component of Real GDP and Real Government Expenditure6. Correlation of Cyclical Component of Real Primary Government Expenditure and Real GDP7. Cyclicality of Fiscal Balance; C. Financial Flows; 8. Correlation of Cyclical Component of Real Fiscal Balance and Real GDP; 9. Amplitude of Financial Flows; 10. Correlation of Cyclical Component of Real Capital Flows and Real GDP; 3. Cyclical Component of Real GDP and FDI-HP Filter; III. Disaster Cycles; IV. Election Cycles; 11. Transfer Flows in the Aftermath of a Disaster; 4. Election Cycles and Primary Balance; 5. Election Cycles and Primary Expenditure; V. Conclusion; Appendix Table; Election DatesReferencesThe sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural disaster cycles. Our main findings suggest that fiscal policy has been mostly procyclical in the region, while disasters have been heavily "insured" by foreign transfers. The "when it rains, it pours" phenomena suggested by Kaminsky, Reinhart and Vegh (2004) seems to take place in the Caribbean.IMF Working Papers; Working Paper ;No. 2009/158Fiscal policyDebtBusiness cyclesimfBusiness FluctuationsimfClimateimfCyclesimfEconomic growthimfExpenditureimfExpenditures, PublicimfFiscal PolicyimfFiscal policyimfFiscal stanceimfGlobal WarmingimfMacroeconomicsimfNational Government Expenditures and Related Policies: GeneralimfNatural Disasters and Their ManagementimfOpen Economy MacroeconomicsimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfPublic finance & taxationimfPublic FinanceimfRevenue administrationimfRevenueimfTaxation, Subsidies, and Revenue: GeneralimfDominicaimfFiscal policy.Debt.Business cyclesBusiness FluctuationsClimateCyclesEconomic growthExpenditureExpenditures, PublicFiscal PolicyFiscal policyFiscal stanceGlobal WarmingMacroeconomicsNational Government Expenditures and Related Policies: GeneralNatural Disasters and Their ManagementOpen Economy MacroeconomicsPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Public finance & taxationPublic FinanceRevenue administrationRevenueTaxation, Subsidies, and Revenue: General339.46Araujo Juliana1770490International Monetary Fund.DcWaIMFBOOK9910825973803321Fiscal Cycles in the Caribbean4252263UNINA