The challenge of debt reduction during fiscal consolidation /
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| 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: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12501635 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 No. 13/67eb | |
| 100 | 1 | |a Eyraud, Luc, |e author. |0 http://id.loc.gov/authorities/names/no2009030681 | |
| 245 | 1 | 4 | |a The challenge of debt reduction during fiscal consolidation / |c Luc Eyraud and Anke Weber. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2013. | ||
| 300 | |a 1 online resource (36 pages) : |b color illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/13/67 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed Mar. 20, 2013). | ||
| 500 | |a "Fiscal Affairs Department"--Page 2 of pdf. | ||
| 500 | |a "March 2013"--Page 2 of pdf. | ||
| 520 | |a "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. | ||
| 504 | |a Includes bibliographical references (pages 35-37). | ||
| 505 | 0 | |a Cover; The Challenge of Debt Reduction during Fiscal Consolidation; Abstract; I. INTRODUCTION; II. FISCAL CONSOLIDATION AND DEBT REDUCTION: THE ANALYTICAL FRAMEWORK; A. Literature Review; B. Some Unpleasant Fiscal Arithmetic; C. Fiscal Multipliers in the Current Environment; III. SIMULATION RESULTS; A. Short-Term and Medium-Term Impacts of Fiscal Consolidation on Debt; B. Implications of Repeated Tightening and Persistent Multipliers; IV. EMPIRICAL EVIDENCE; A. Descriptive Analysis; B. Econometric Estimation; V. IMPLICATIONS FOR THE DEBT RATIO INDICATOR; A. Cyclicality of Nominal Debt Ratios. | |
| 505 | 8 | |a B. Towards Cyclically-Adjusted Debt Indicators?VI. CONCLUSIONS; APPENDIX 1: IMPACT OF FISCAL CONSOLIDATION ON THE DEBT RATIO; APPENDIX 2: THE CYCLICALLY-ADJUSTED DEBT RATIO: DEFINITION AND MEASUREMENT; APPENDIX 3: A RULE OF THUMB FOR THE CYCLICALLY-ADJUSTED DEBT RATIO; References. | |
| 650 | 0 | |a Debts, Public |x Econometric models. | |
| 650 | 0 | |a Fiscal policy |x Econometric models. | |
| 650 | 6 | |a Dettes publiques |x Modèles économétriques. | |
| 650 | 6 | |a Politique fiscale |x Modèles économétriques. | |
| 650 | 7 | |a Debts, Public |x Econometric models. |2 fast |0 (OCoLC)fst00888859 | |
| 650 | 7 | |a Fiscal policy |x Econometric models. |2 fast |0 (OCoLC)fst00925810 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Weber, Anke, |e author. |0 http://id.loc.gov/authorities/names/no2001051611 | |
| 710 | 2 | |a International Monetary Fund. |b Fiscal Affairs Department. |0 http://id.loc.gov/authorities/names/n81027435 | |
| 830 | 0 | |a IMF working paper ; |v WP/13/67. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2013/067/001.2013.issue-067-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 No. 13/67eb |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2013/067/001.2013.issue-067-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12145849 | ||