The challenge of debt reduction during fiscal consolidation /

The challenge of debt reduction during fiscal consolidation /

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Bibliographic Details
Author / Creator:	Eyraud, Luc, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2013.
Description:	1 online resource (36 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/13/67 IMF working paper ; WP/13/67.
Subject:	Debts, Public -- Econometric models. Fiscal policy -- Econometric models. Debts, Public -- Econometric models. Fiscal policy -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12501635

Hidden Bibliographic Details
Other authors / contributors:	Weber, Anke, author. International Monetary Fund. Fiscal Affairs Department.
ISBN:	9781616357566 1616357568 9781475553864 1475553862 9781475556711 1475556713
Notes:	Title from PDF title page (IMF Web site, viewed Mar. 20, 2013). "Fiscal Affairs Department"--Page 2 of pdf. "March 2013"--Page 2 of pdf. Includes bibliographical references (pages 35-37).
Summary:	"Studies suggest that fiscal multipliers are currently high in many advanced economies. One important implication is that fiscal tightening could raise the debt ratio in the short term, as fiscal gains are partly wiped out by the decline in output. Although this effect is not long-lasting and debt eventually declines, it could be an issue if financial markets focus on the short-term behavior of the debt ratio, or if country authorities engage in repeated rounds of tightening in an effort to get the debt ratio to converge to the official target. We discuss whether these problems could be addressed by setting and monitoring debt targets in cyclically-adjusted terms"--Page 2 of pdf.

Description
Summary:	Studies suggest that fiscal multipliers are currently high in many advanced economies. One important implication is that fiscal tightening could raise the debt ratio in the short term, as fiscal gains are partly wiped out by the decline in output. Although this effect is not long-lasting and debt eventually declines, it could be an issue if financial markets focus on the short-term behavior of the debt ratio, or if country authorities engage in repeated rounds of tightening in an effort to get the debt ratio to converge to the official target. We discuss whether these problems could be addressed by setting and monitoring debt targets in cyclically-adjusted terms.
Item Description:	Title from PDF title page (IMF Web site, viewed Mar. 20, 2013). "Fiscal Affairs Department"--Page 2 of pdf. "March 2013"--Page 2 of pdf.
Physical Description:	1 online resource (36 pages) : color illustrations
Bibliography:	Includes bibliographical references (pages 35-37).
ISBN:	9781616357566 1616357568 9781475553864 1475553862 9781475556711 1475556713