Hidden Bibliographic Details
| Other authors / contributors: | Stella, Peter, 1957- author.
International Monetary Fund.
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| ISBN: | 1557755833
9781557755834
1452727813
9781452727813
9781452727813
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| Notes: | "October 1996."
Available in PDF, ePUB, and Mobi formats on the Internet.
Includes bibliographical references (pages 35-36).
English.
Online resource; title from PDF title page (IMF, viewed September 1, 2015).
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| Summary: | Central banks and other public financial institutions act as agents of fiscal policy in many countries. Their "quasi-fiscal" operations and activities can affect the overall public sector balance without affecting the budget deficit as conventionally measured, may also have important allocative effects, and increase the effective size of the public sector. This paper analyzes the macroeconomic and financial effects of such quasi-fiscal activities, as well as the taxes, subsidies, and other expenditures that such activities introduce outside the budget. Measurement and accounting issues are addressed, and policy recommendations are offered.
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