LEADER 03652nam 2200637 a 450 001 9910453003503321 005 20200520144314.0 010 $a1-4755-8971-9 010 $a1-4755-3723-9 035 $a(CKB)2550000000107091 035 $a(EBL)1606756 035 $a(SSID)ssj0000944119 035 $a(PQKBManifestationID)11485778 035 $a(PQKBTitleCode)TC0000944119 035 $a(PQKBWorkID)10983258 035 $a(PQKB)10179068 035 $a(MiAaPQ)EBC1606756 035 $a(Au-PeEL)EBL1606756 035 $a(CaPaEBR)ebr10574684 035 $a(OCoLC)870244955 035 $a(EXLCZ)992550000000107091 100 $a20120711d2012 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aWalking hand in hand$b[electronic resource] $efiscal policy and growth in advanced economies /$fprepared by Carlo Cottarelli and Laura Jaramillo 210 $a[Washington, D.C.] $cInternational Monetary Fund$d2012 215 $a1 online resource (30 p.) 225 1 $aIMF working paper ;$vWP/12/137 300 $a"Fiscal Affairs Department." 300 $a"May 2012." 311 $a1-4755-6544-5 311 $a1-4755-0391-1 320 $aIncludes bibliographical references. 327 $aCover; 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 2011 327 $a5. 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; References 330 $aImplementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize long term growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy 410 0$aIMF working paper ;$vWP/12/137. 606 $aEconomic development$zDeveloped countries 606 $aFiscal policy$zDeveloped countries 606 $aDebts, Public$zDeveloped countries 608 $aElectronic books. 615 0$aEconomic development 615 0$aFiscal policy 615 0$aDebts, Public 701 $aCottarelli$b Carlo$0118928 701 $aJaramillo$b Laura$0866242 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910453003503321 996 $aWalking hand in hand$92042228 997 $aUNINA