LEADER 05017oam 22010214 450 001 9910779202003321 005 20230802005439.0 010 $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(IMF)WPIEE2012137 035 $a(IMF)WPIEA2012137 035 $a(EXLCZ)992550000000107091 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aWalking Hand in Hand : $eFiscal Policy and Growth in Advanced Economies /$fLaura Jaramillo, Carlo Cottarelli 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (30 p.) 225 1 $aIMF Working Papers 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 3 $aImplementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy and growth both in the short and in the long run. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/137 606 $aEconomic development$zDeveloped countries 606 $aFiscal policy$zDeveloped countries 606 $aDebts, Public$zDeveloped countries 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aFiscal Policy$2imf 606 $aFiscal Policies and Behavior of Economic Agents: General$2imf 606 $aEconomic Growth and Aggregate Productivity: General$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aPublic finance & taxation$2imf 606 $aFiscal consolidation$2imf 606 $aFiscal policy$2imf 606 $aPublic debt$2imf 606 $aFiscal stance$2imf 606 $aFiscal multipliers$2imf 606 $aDebts, Public$2imf 607 $aItaly$2imf 615 0$aEconomic development 615 0$aFiscal policy 615 0$aDebts, Public 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aFiscal Policy 615 7$aFiscal Policies and Behavior of Economic Agents: General 615 7$aEconomic Growth and Aggregate Productivity: General 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aPublic finance & taxation 615 7$aFiscal consolidation 615 7$aFiscal policy 615 7$aPublic debt 615 7$aFiscal stance 615 7$aFiscal multipliers 615 7$aDebts, Public 700 $aJaramillo$b Laura$01094952 701 $aCottarelli$b Carlo$0118928 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779202003321 996 $aWalking Hand in Hand$93801171 997 $aUNINA