Fiscal Monitor October 2019

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Fiscal Monitor, October 2019

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 96 pages
File Size : 55,9 Mb
Release : 2019-10-10
Category : Business & Economics
ISBN : 9781498321228

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Fiscal Monitor, October 2019 by International Monetary Fund. Fiscal Affairs Dept. Pdf

This report emphasizes the environmental, fiscal, economic, and administrative case for using carbon taxes, or similar pricing schemes such as emission trading systems, to implement climate mitigation strategies. It provides a quantitative framework for understanding their effects and trade-offs with other instruments and applies it to the largest advanced and emerging economies. Alternative approaches, like “feebates” to impose fees on high polluters and give rebates to cleaner energy users, can play an important role when higher energy prices are difficult politically. At the international level, the report calls for a carbon price floor arrangement among large emitters, designed flexibly to accommodate equity considerations and constraints on national policies. The report estimates the consequences of carbon pricing and redistribution of its revenues for inequality across households. Strategies for enhancing the political acceptability of carbon pricing are discussed, along with supporting measures to promote clean technology investments.

Fiscal Monitor, April 2019

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 132 pages
File Size : 48,9 Mb
Release : 2019-04-10
Category : Business & Economics
ISBN : 9781498302180

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Fiscal Monitor, April 2019 by International Monetary Fund. Fiscal Affairs Dept. Pdf

This report discusses fiscal policies to prepare for the next downturn and foster long-term inclusive growth by adapting to changing demographics, advancing technology, and deepening global integration. It also covers recent fiscal developments and the fiscal outlook in advanced economies, emerging markets, and low-income developing countries; recent trends in government debt and analysis of changes in fiscal balances, revenue, and spending; and potential fiscal risks. The report takes on in-depth look at how corruption impacts government policies and operations, the fiscal costs, and how fiscal institutions can help fight corruption.

Fiscal Monitor, April 2021

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 122 pages
File Size : 45,5 Mb
Release : 2021-04-07
Category : Business & Economics
ISBN : 9781513571553

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Fiscal Monitor, April 2021 by International Monetary Fund Pdf

The April 2021 edition of the Fiscal Monitor focuses on tailoring fiscal responses to the COVID-19 pandemic and adopting policies to reduce inequality and gaps

Fiscal Monitor, October 2022

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 100 pages
File Size : 55,9 Mb
Release : 2022-10-12
Category : Business & Economics
ISBN : 9798400212741

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Fiscal Monitor, October 2022 by International Monetary Fund Pdf

The report explores how fiscal policy can foster resilience by protecting households against large income and employment losses. Governments face increasingly difficult trade-offs in tackling the spikes in food and energy prices when policy buffers are largely exhausted after two years of pandemic. They should prioritize protecting vulnerable groups through targeted support while keeping a tight fiscal stance to help reduce inflation. Building fiscal buffers in normal times would allow governments to respond swiftly and flexibly during adversities. Several fiscal tools, such as job-retention schemes, have proven useful to preserve jobs and income for workers. Social safety nets should be made more readily scalable and better targeted, leveraging digital technologies. Exceptional support to firms should be reserved for severe situations and requires sound fiscal risk management.

World Economic Outlook, October 2019

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 208 pages
File Size : 40,9 Mb
Release : 2019-10-15
Category : Business & Economics
ISBN : 9781513516172

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World Economic Outlook, October 2019 by International Monetary Fund. Research Dept. Pdf

Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook.

Fiscal Monitor, October 2018

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 106 pages
File Size : 42,8 Mb
Release : 2018-10-10
Category : Business & Economics
ISBN : 9781484374825

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Fiscal Monitor, October 2018 by International Monetary Fund. Fiscal Affairs Dept. Pdf

Public sector balance sheets provide the most comprehensive picture of public wealth. They bring together all the accumulated assets and liabilities that the government controls, including public corporations, natural resources, and pension liabilities. They thus account for the entirety of what the state owns and owes, offering a broader fiscal picture beyond debt and deficits. Most governments do not provide such transparency, thereby avoiding the additional scrutiny it brings. Better balance sheet management enables countries to increase revenues, reduce risks, and improve fiscal policymaking. There is some empirical evidence that financial markets are increasingly paying attention to the entire government balance sheet and that strong balance sheets enhance economic resilience. This issue of the Fiscal Monitor presents a new database that shows comprehensive estimates of public sector assets and liabilities for a broad sample of 31 countries, covering 61 percent of the global economy, and provides tools to analyze and manage public wealth. Estimates of public wealth reveal the full scale of public assets and liabilities. Assets are worth US$101 trillion or 219 percent of GDP in the sample. This includes 120 percent of GDP in public corporation assets. Also included are natural resources that average 110 percent of GDP among the large natural-resource-producing countries. Recognizing these assets does not negate the vulnerabilities associated with the standard measure of general government public debt, comprising 94 percent of GDP for these countries. This is only half of total public sector liabilities of 198 percent of GDP, which also includes 46 percent of GDP in already accrued pension liabilities. Once governments understand the size and nature of public assets, they can start managing them more effectively. Potential gains from better asset management are considerable. Revenue gains from nonfinancial public corporations and government financial assets alone could be as high as 3 percent of GDP a year, equivalent to annual corporate tax collections across advanced economies. In addition, considerable gains could be realized from government nonfinancial assets. Public assets are a significant resource, and how governments use and report on them matters, not just for financial reasons, but also in terms of improving service delivery and preventing the misuse of resources that often results from a lack of transparency.

Fiscal Monitor, October 2017

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 128 pages
File Size : 44,9 Mb
Release : 2017-10-11
Category : Business & Economics
ISBN : 9781484317495

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Fiscal Monitor, October 2017 by International Monetary Fund. Fiscal Affairs Dept. Pdf

At the global level, inequality has declined substantially over the past three decades, but within national boundaries, the picture is mixed: some countries have experienced a reduction in inequality while others, particularly advanced economies, have seen a significant increase that has, among other things, contributed to growing public backlash against globalization. Excessive levels of inequality can erode social cohesion, lead to political polarization, and ultimately lower economic growth, but whether inequality is excessive depends on country-specific factors, including the growth context in which inequality arises, along with societal preferences. This Fiscal Monitor focuses on how fiscal policy can help governments address high levels of inequality while minimizing potential trade-offs between efficiency and equity. It documents recent trends in income inequality, including inequality both between and within countries, then examines the redistributive role of fiscal policies over recent decades and underscores the importance of appropriate design to minimize any efficiency costs. It then focuses on some key components of fiscal redistribution: progressivity of income taxation, universal basic income, and public spending policies for achieving more equitable education and health outcomes. The analysis relies on the existing theoretical and empirical literature, IMF work on inequality and fiscal policy, country experiences, and new analytical work, including various static microsimulation analyses based on household survey data. Simulations using a dynamic general equilibrium model calibrated to country-specific data and behavioral parameters illustrate the potential impact of alternative budget-neutral tax and transfer measures on income inequality and economic growth.

Fiscal Monitor, October 2016

Author : Ms.Marialuz Moreno Badia
Publisher : International Monetary Fund
Page : 128 pages
File Size : 45,8 Mb
Release : 2016-10-05
Category : Business & Economics
ISBN : 9781475537093

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Fiscal Monitor, October 2016 by Ms.Marialuz Moreno Badia Pdf

Drawing on an expanded data set covering emerging markets and low-income countries as well as advanced economies, this issue examines the extent and makeup of global debt and asks what role fiscal policy can play in facilitating the adjustment. The analytical framework explicitly models the interlinkages between private and public debt in analyzing the role of fiscal policy in the deleveraging process. Country case studies provide useful insights on what fiscal policy should and should not do to facilitate deleveraging while minimizing the drag on the economy.

Fiscal Monitor, April 2020

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
Page : 145 pages
File Size : 48,7 Mb
Release : 2020-04-15
Category : Business & Economics
ISBN : 9781513537511

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Fiscal Monitor, April 2020 by International Monetary Fund. Fiscal Affairs Dept. Pdf

Chapter 1 argues that fiscal policies are at the forefront of responding to the COVID-19 pandemic. Fiscal measures can save lives, protect the most-affected people and firms from the economic impact of the pandemic, and prevent the health crisis from turning into a deep long-lasting slump. A key priority is to fully accommodate spending on health and emergency services. Global coordination is for a universally low-cost vaccine and to support countries with limited health capacity. Large, temporary and targeted support is urgently needed for affected workers and firms until the emergency abates. As the shutdowns end, broad-based, coordinated fiscal stimulus—where financing conditions permit—will become more effective in fostering the recovery. Chapter 2 argues that fiscal policies are at the forefront of facilitating an economic recovery from the COVID-19 pandemic once the Great Lockdown ends. Policymakers can achieve this objective with IDEAS: Invest for the future—in health systems, infrastructure, low carbon technologies, education, and research; adopt well-planned Discretionary policies that can be deployed quickly; and Enhance Automatic Stabilizers, which are built-in budgetary tax and spending measures that automatically stabilize incomes and consumption. Importantly, improving unemployment benefit systems and social safety nets can protect household incomes from adverse shocks and strengthen resilience against future epidemics. Over the past decade, state-owned enterprises (SOEs) have doubled in importance among the world’s largest corporations. They often deliver basic services such as water, electricity, and loans for families and small businesses. At their best, they can help promote higher economic growth and achieve development goals. However, many are a burden to taxpayers and the economy. Chapter 3 discusses what governments can do to get the most out of SOEs. This includes ensuring the firm’s managers have the right incentives and there is effective oversight. It also requires a high degree of transparency of their activities.

Global Financial Stability Report, October 2019

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 109 pages
File Size : 50,8 Mb
Release : 2019-10-16
Category : Business & Economics
ISBN : 9781513515953

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Global Financial Stability Report, October 2019 by International Monetary Fund. Monetary and Capital Markets Department Pdf

The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.

Fiscal Monitor, April 2022

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 124 pages
File Size : 43,7 Mb
Release : 2022-04-20
Category : Business & Economics
ISBN : 9781513598789

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Fiscal Monitor, April 2022 by International Monetary Fund Pdf

Chapter 1 discusses how fiscal policy operates amid a sharp rise in uncertainty caused by the war in Ukraine. Chapter 2 discusses how international coordination on tax matters can support revenue, inclusion, tax transparency, and greener economies.

Global Financial Stability Report, October 2019

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 109 pages
File Size : 42,8 Mb
Release : 2019-10-16
Category : Business & Economics
ISBN : 9781498324021

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Global Financial Stability Report, October 2019 by International Monetary Fund. Monetary and Capital Markets Department Pdf

The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.

Fiscal Politics

Author : Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados
Publisher : International Monetary Fund
Page : 548 pages
File Size : 51,7 Mb
Release : 2017-04-07
Category : Business & Economics
ISBN : 9781475547900

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Fiscal Politics by Vitor Gaspar,Mr.Sanjeev Gupta,Mr.Carlos Mulas-Granados Pdf

Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.

Natural Resource Taxation in Mexico: Some Considerations

Author : Ms. Alpa Shah
Publisher : International Monetary Fund
Page : 36 pages
File Size : 55,6 Mb
Release : 2021-10-18
Category : Business & Economics
ISBN : 9781513599663

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Natural Resource Taxation in Mexico: Some Considerations by Ms. Alpa Shah Pdf

Mexico has large extractive industries and it traditionally has raised sizable fiscal revenues from the oil and gas sector. A confluence of factors—elevated commodity prices, financial challenges of the state-owned oil company Pemex, and revenue needs for financing social and public investment spending over the medium term—suggest that a review of Mexico’s taxation regimes for natural resources would be opportune, against the backdrop of a comprehensive approach to tackling Mexico’s challenges. This paper identifies opportunities for redesigning mining taxation to increase somewhat the revenue intake while maintaining the favorable investment profile of the sector. It also discusses recent reforms to the oil and gas fiscal regime and future reform considerations, with attention to the attractiveness of investment on commercial terms—an issue that should be placed in the context of an overall reform of Pemex’s business strategy and possibly of the energy sector more generally.

Public Finance: An International Perspective (Revised Edition)

Author : Joshua E Greene
Publisher : World Scientific
Page : 538 pages
File Size : 42,9 Mb
Release : 2020-11-27
Category : Business & Economics
ISBN : 9789811209956

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Public Finance: An International Perspective (Revised Edition) by Joshua E Greene Pdf

Drawing from current examples from a variety of countries, Public Finance: An International Perspective addresses the main issues in contemporary public finance, including fiscal sustainability, state enterprises, and a variety of subsidies. There are relatively few textbooks on public finance, and many of them focus on the experience and issues facing the United States. This book sets out to address the critical issues from other countries, particularly those from the developing world or emerging market countries, who have received less attention in other texts. Written in a highly accessible manner, this book is a useful reference for students and practitioners alike.