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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 54 |
| Release | : 2013-07-16 |
| Genre | : Business & Economics |
| ISBN | : 1498341470 |
Download Case Studies of Fiscal Councils - Functions and Impact Book in PDF, ePub and Kindle
This supplement presents case studies of seven fiscal councils and examines how each council performs its core functions and if and how it impacts on the fiscal policy debate. The seven fiscal councils are: Belgium (Conseil Supérieur des Finances—HCF), Canada (Parliamentary Budget Officer—PBO), Hungary (Költségvetési Tanács), Korea (National Assembly Budget Office—NABO), the Netherlands (Centraal Planbureau—CPB), Sweden (Finanspolitiska rådet), and the United States (Congressional Budget Office-CBO). The main paper presents the comparative lessons and the general findings of this study based on a systematic comparison of these fiscal councils’ experiences. This supplement discusses in detail each individual fiscal council’s experiences.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 63 |
| Release | : 2013-07-16 |
| Genre | : Business & Economics |
| ISBN | : 1498341497 |
Download The Functions and Impact of Fiscal Councils Book in PDF, ePub and Kindle
In recent years, a rapidly growing number of countries have established independent agencies aimed at promoting sound fiscal policies. Although these institutions vary greatly in terms of their remit, tasks, and institutional forms, they tend to share an explicit mandate enshrined in legislation, a “watchdog” role implying a direct contribution to the public debate on fiscal policy, and strict non-partisanship in their activities. Importantly, fiscal councils do not have the discretion to set policy instruments. Unlike independent central banks in the monetary policy area, they are only facilitators of sound fiscal public finances, not decision makers deliberately insulated from politics. Earlier IMF staff analysis of non-partisan fiscal agencies (IMF, 2005, expanded by Debrun, Hauner and Kumar, 2009) referred to the generic term of “fiscal council” to designate these institutions. A handful of similar bodies have been in place for a long time—mostly in advanced economies.
| Author | : Mr.Roel M. W. J. Beetsma |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2016-04-08 |
| Genre | : Business & Economics |
| ISBN | : 1484322908 |
Download Fiscal Councils Book in PDF, ePub and Kindle
The paper discusses the effectiveness of independent fiscal institutions—or fiscal councils—in taming the deficit bias that emerged in the 1970s. After a review of the main theoretical arguments and recent trends about fiscal councils, we develop a stylized model showing how a fiscal council can effectively mitigate the deficit bias even though it has no direct lever on the conduct of fiscal policy. We show that the capacity of the fiscal council to improve the public’s understanding of the quality of fiscal policy contributes to better align voters and policymakers’ incentives and to tame the deficit bias affecting well-intended governments. After mapping the model’s key features into a broad set of criteria likely to contribute to the effectiveness of a fiscal council, we use the 2014 vintage of the IMF dataset on independent fiscal institutions to assess whether existing institutions have been built to work.
| Author | : Mr.Roel M. W. J. Beetsma |
| Publisher | : International Monetary Fund |
| Total Pages | : 28 |
| Release | : 2018-03-23 |
| Genre | : Business & Economics |
| ISBN | : 1484348281 |
Download Independent Fiscal Councils: Recent Trends and Performance Book in PDF, ePub and Kindle
Countries increasingly rely on independent fiscal councils to constrain policymakers’ discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the latest (2016) vintage of the IMF Fiscal Council Dataset, we focus on two tasks expected to strengthen fiscal performance: the preparation or assessment of forecasts, and the monitoring of compliance with fiscal rules. Tentative econometric evidence suggests that the presence of a fiscal council is associated with more accurate and less optimistic fiscal forecasts, as well as greater compliance with fiscal rules.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2003-09-12 |
| Genre | : Business & Economics |
| ISBN | : 149832892X |
Download Guidelines for Public Debt Management -- Amended Book in PDF, ePub and Kindle
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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 257 |
| Release | : 2015-04-20 |
| Genre | : Business & Economics |
| ISBN | : 1498344658 |
Download Fiscal Policy and Long-Term Growth Book in PDF, ePub and Kindle
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
| Author | : Mr. M. Cangiano |
| Publisher | : International Monetary Fund |
| Total Pages | : 468 |
| Release | : 2013-04-05 |
| Genre | : Business & Economics |
| ISBN | : 1475512198 |
Download Public Financial Management and Its Emerging Architecture Book in PDF, ePub and Kindle
The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch
| Author | : Panel on the Demographic and Economic Impacts of Immigration |
| Publisher | : National Academies Press |
| Total Pages | : 449 |
| Release | : 1997-10-28 |
| Genre | : Social Science |
| ISBN | : 0309521424 |
Download The New Americans Book in PDF, ePub and Kindle
This book sheds light on one of the most controversial issues of the decade. It identifies the economic gains and losses from immigration--for the nation, states, and local areas--and provides a foundation for public discussion and policymaking. Three key questions are explored: What is the influence of immigration on the overall economy, especially national and regional labor markets? What are the overall effects of immigration on federal, state, and local government budgets? What effects will immigration have on the future size and makeup of the nation's population over the next 50 years? The New Americans examines what immigrants gain by coming to the United States and what they contribute to the country, the skills of immigrants and those of native-born Americans, the experiences of immigrant women and other groups, and much more. It offers examples of how to measure the impact of immigration on government revenues and expenditures--estimating one year's fiscal impact in California, New Jersey, and the United States and projecting the long-run fiscal effects on government revenues and expenditures. Also included is background information on immigration policies and practices and data on where immigrants come from, what they do in America, and how they will change the nation's social fabric in the decades to come.
| Author | : Mr.Roel M. W. J. Beetsma |
| Publisher | : International Monetary Fund |
| Total Pages | : 28 |
| Release | : 2018-03-29 |
| Genre | : Business & Economics |
| ISBN | : 148435138X |
Download Independent Fiscal Councils: Recent Trends and Performance Book in PDF, ePub and Kindle
Countries increasingly rely on independent fiscal councils to constrain policymakers’ discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the latest (2016) vintage of the IMF Fiscal Council Dataset, we focus on two tasks expected to strengthen fiscal performance: the preparation or assessment of forecasts, and the monitoring of compliance with fiscal rules. Tentative econometric evidence suggests that the presence of a fiscal council is associated with more accurate and less optimistic fiscal forecasts, as well as greater compliance with fiscal rules.
| Author | : National Research Council |
| Publisher | : National Academies Press |
| Total Pages | : 40 |
| Release | : 1996-11-25 |
| Genre | : Social Science |
| ISBN | : 030905592X |
Download Local Fiscal Effects of Illegal Immigration Book in PDF, ePub and Kindle
The recent level of illegal immigration to the United States has increased debates about the effect of these immigrants on the cost of public services, and states have begun to enact policies that limit the public services available to illegal immigrants. The central issues are how many illegal immigrants reside in particular local areas and states and their effect on public expenditures and revenues and the economy in general. The Local Fiscal Effects of Illegal Immigration workshop selected six studies for analysis. The six case studies focused on one specific aspect of the complex question of the demographic, economic, and social effects of immigration: the net public services costs of illegal immigrants to selected geographical regions.
