JRRA Informativo
FISCAL CONSOLIDATION
1651
06/05/2018

Fiscal Consolidation (David & Leigh)

A new action-based dataset of fiscal consolidation in Latin America and the Caribbean by Antonio C. David and Daniel Leigh published by IMF (4/2018). "This paper presents a new database of fiscal consolidations for 14 Latin American and Caribbean economies during 1989-2016. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and long-term fiscal health and not by a response to prospective economic conditions..."

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Fiscal Space (World Bank)

Fiscal Space published by World Bank (2/2018). "This month's newsletter focuses on the growing fiscal vulnerabilities in many emerging markets and developing economies (EMDEs), an increasingly urgent issue since the current global expansion is now seven eyears old..."

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Climbing Out of Debt (Alesina et al.)

Climbing out of debt by Alberto Alesina, Carlo A. Favero and Francesco Giavazzi published by IMF (3/2018). "...That means interest payments, will eat up a growing share of government spending, leaving less money to deliver public services or take steps to ensure long-term economic growth, such as investing in infrastructure and education. Servicing debt will become a major burden."

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Fiscal Policy (Ohnsorge)

Fiscal policy: ready for the next shock? by Franziska Ohnsorge (12/2017). "Fiscal sustainability gap: What fiscal consolidation would stabilize debt? A summary metric of government debt dynamics. Compares a country's fiscal balance with the balance that stabilizes government debt at a level (under different assumptions of output growth, long-term interest rate, and target debt level."

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Mounting Debt (Lane & Harris)

Mounting debt threatens sustainable development goals by Chris Lane and Elliott Harris published by IMF (4/2018). "The bottom line is that we only have twelve years left in which to implement the SDGs. The current upswing in the global economy opens up a vital window of opportunity, but we must make sure that the financing agenda is not derailed by mounting public debt."

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