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Walking Hand in Hand : : Fiscal Policy and Growth in Advanced Economies / / Laura Jaramillo, Carlo Cottarelli



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Autore: Jaramillo Laura Visualizza persona
Titolo: Walking Hand in Hand : : Fiscal Policy and Growth in Advanced Economies / / Laura Jaramillo, Carlo Cottarelli Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
Descrizione fisica: 1 online resource (30 p.)
Soggetto topico: Economic development - Developed countries
Fiscal policy - Developed countries
Debts, Public - Developed countries
Macroeconomics
Public Finance
Interest Rates: Determination, Term Structure, and Effects
Fiscal Policy
Fiscal Policies and Behavior of Economic Agents: General
Economic Growth and Aggregate Productivity: General
Debt
Debt Management
Sovereign Debt
Public finance & taxation
Fiscal consolidation
Fiscal policy
Public debt
Fiscal stance
Fiscal multipliers
Debts, Public
Soggetto geografico: Italy
Altri autori: CottarelliCarlo  
Note generali: "Fiscal Affairs Department."
"May 2012."
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: 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 2011
5. 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
Sommario/riassunto: Implementation 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.
Titolo autorizzato: Walking Hand in Hand  Visualizza cluster
ISBN: 1-4755-8971-9
1-4755-3723-9
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910779202003321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2012/137