LEADER 05406oam 22012134 450 001 9910960078003321 005 20250426110716.0 010 $a9786612843716 010 $a9781462384020 010 $a1462384021 010 $a9781452712734 010 $a1452712735 010 $a9781451873054 010 $a1451873050 010 $a9781282843714 010 $a1282843710 035 $a(CKB)3170000000055311 035 $a(EBL)1608376 035 $a(SSID)ssj0000940820 035 $a(PQKBManifestationID)11494015 035 $a(PQKBTitleCode)TC0000940820 035 $a(PQKBWorkID)10955895 035 $a(PQKB)10962661 035 $a(OCoLC)645187158 035 $a(MiAaPQ)EBC1608376 035 $a(IMF)WPIEE2009158 035 $a(IMF)WPIEA2009158 035 $aWPIEA2009158 035 $a(EXLCZ)993170000000055311 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal Cycles in the Caribbean /$fJuliana Araujo 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (29 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451917338 311 08$a1451917333 320 $aIncludes bibliographical references. 327 $aContents; 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 Expenditure 327 $a6. 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 Dates 327 $aReferences 330 3 $aThe sharp increase in debt in the Caribbean since the mid-1990s has focused attention on the conduct of fiscal policy in the region. This paper aims to diagnose how fiscal policy has behaved during this period by looking at three main cycles of the economy: the business, election, and natural disaster cycles. Our main findings suggest that fiscal policy has been mostly procyclical in the region, while disasters have been heavily "insured" by foreign transfers. The "when it rains, it pours" phenomena suggested by Kaminsky, Reinhart and Vegh (2004) seems to take place in the Caribbean. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/158 606 $aFiscal policy 606 $aDebt 606 $aBusiness cycles$2imf 606 $aBusiness Fluctuations$2imf 606 $aClimate$2imf 606 $aCycles$2imf 606 $aEconomic growth$2imf 606 $aExpenditure$2imf 606 $aExpenditures, Public$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aFiscal stance$2imf 606 $aGlobal Warming$2imf 606 $aMacroeconomics$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aNatural Disasters and Their Management$2imf 606 $aOpen Economy Macroeconomics$2imf 606 $aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aRevenue administration$2imf 606 $aRevenue$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 607 $aDominica$2imf 615 0$aFiscal policy. 615 0$aDebt. 615 7$aBusiness cycles 615 7$aBusiness Fluctuations 615 7$aClimate 615 7$aCycles 615 7$aEconomic growth 615 7$aExpenditure 615 7$aExpenditures, Public 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aFiscal stance 615 7$aGlobal Warming 615 7$aMacroeconomics 615 7$aNational Government Expenditures and Related Policies: General 615 7$aNatural Disasters and Their Management 615 7$aOpen Economy Macroeconomics 615 7$aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data) 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aRevenue administration 615 7$aRevenue 615 7$aTaxation, Subsidies, and Revenue: General 676 $a339.46 700 $aAraujo$b Juliana$01816420 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910960078003321 996 $aFiscal Cycles in the Caribbean$94372481 997 $aUNINA