Fiscal Implications of Government Wage Bill Spending /

Fiscal Implications of Government Wage Bill Spending /

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Bibliographic Details
Author / Creator:Dybczak, Kamil, author.
Imprint:[Washington, D.C.] : International Monetary Fund, [2019]
©2019
Description:1 online resource (34 pages)
Language:English
Series:IMF Working Paper ; WP/19/10
IMF working paper ; WP/19/10.
Subject:
Wages -- Econometric models.
Wages -- Econometric models.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13513045
Hidden Bibliographic Details
Other authors / contributors:Garcia-Escribano, Mercedes, author.
International Monetary Fund, issuing body.
ISBN:1484394984
9781484394984
Notes:Print version record.
Summary:This paper discusses the short- and medium-term fiscal implications of government wage bill spending. Working with a sample of 137 advanced, emerging and low-income countries, we use a panel VAR approach to identify differences in the dynamic behavior of revenues, nonwage expenditures, and the overall fiscal balance in response to changes in the wage bill. We show that the interaction between wage bill changes and these three fiscal items is alike and varies overtime. Higher wage bill spending does not revert in the medium term, but the initial worsening of the fiscal balance associated with it, though it persists, eventually halves as revenues increase while non-wage spending remains broadly unchanged. We also show that countries differ in how these three fiscal variables behave following wage bill changes and seek to explain this variation by a set of country characteristics, including the level of development, access to natural resources and public indebtedness levels.
Other form:Print version: Dybczak, Kamil. Fiscal Implications of Government Wage Bill Spending. Washington, D.C. : International Monetary Fund, ©2019
Table of Contents:
  • Cover; Contents; Abstract; I. Introduction; II. Data and Stylized Facts; III. Empirical Approach; IV. Results; V. Conclusion; VI. References; Tables; 1. Size of the Sample and Sub-Samples by Income Level, Access to Natural Resources and Public Debt; 2. Descriptive Statistics-Levels of Revenue, Wage Bill and Other Expenditure; 3. Descriptive Statistics-First Differences of Revenue, Wage Bill and Other Expenditure; 4. Stationarity Tests of Levels of Revenue, Wage Bill and Other Expenditure; 5. Stationarity Tests of First Differences of Revenue, Wage Bill and Other Expenditure
  • 6. Granger Causality TestsFigures; 1. The Wage Bill by Country Groups; 2. Change in Wage Bill, Revenue and Other Expenditure over the period 1995-2013; 3. Cumulative Impulse Response Functions-All Countries; 4. Cumulative Impulse Response Functions
  • Advanced and Non-Advanced Countries; 5. Cumulative Impulse Response Functions
  • High-Debt and Low-Debt Countries; 6. Cumulative Impulse Response Functions
  • Resource Rich and Non-Resource Rich Countries; Appendixes; 1. Country Groups by income, Access to Natural Resources and Public-Sector Stock of Public Debt
  • 2. Impulse Response Functions under Alternative Ordering3. Primary Other Expenditure; Appendix Tables; 1. Impulse Response Functions-All Countries (Ordering: Revenue
  • Wage Bill
  • Other Expendit; 2. Impulse Response Functions-All Countries (Ordering: Wage Bill → Revenue → Other Expenditure); 3. Impulse Response Functions-All Countries (Ordering: Other Expenditure → Revenue → Wage Bill); 4. Impulse Response Functions-All Countries (Ordering: Revenue → Other Expenditure → Wage Bill); 5. Impulse Response Functions-All Countries (Ordering: Other Expenditure → Wage Bill → Revenue)
  • 6. Impulse Response Functions-All Countries (Primary Other Expenditure)7. Impulse Response Functions-Advanced and Non-Advanced Countries; 8. Impulse Response Functions-High-Debt and Low-Debt Countries; 9. Impulse Response Functions-Resource Rich and Non-Resource Rich Countries

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