General Framework (Bi, Qu, Roaf)

Assessing the impact and phasing of multi-year fiscal adjustment: A general framework prepared by Ran Bi, Haonan Qu and James Roaf published by IMF (8/2013) indicated by Alvaro Manoel. “This paper provides a general framework to assess the output and debt dynamics of an economy undertaking multi-year fiscal adjustment. The framework allows country-specific assumptions about the magnitude and persistence of fiscal multipliers, hysteresis effects, and endogenous financing costs.” 

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