Found inside – Page 187Fiscal multipliers are defined as the ratio of a change in output to an exogenous change in the fiscal deficit with respect to their baselines. Pension reforms in former transition economies aimed to fiscal sustainability and market economy objectives. Although central banks have recently taken unconventional policy actions to try to shore up macroeconomic and financial stability, little theory is available to assess the consequences of such measures. Found inside – Page 8-13It is equal to Fiscal Deficit reduced by Interest Payment liabilities are added to the budgetary deficit. Its formula is: Fiscal Deficit =Total Expenditure ... Studies suggest that fiscal multipliers are currently high in many advanced economies. Found insideThis book challenges the mainstream paradigm, based on the inter-temporal optimisation of welfare by individual agents. Dillinger and Webb explore institutional arrangements that have helped Colombia manage the fiscal aspects of decentralization, despite the country's political problems. Fiscal decentralization proceeded rapidly in Colombia. Found inside – Page 17(19) This formula also gives the net foreign-assets revaluation component of the central bank's profit flow and hence, as explained below, of the increase ... Found inside – Page 141RAND Maxwell , James A. and J. Richard Aronson , " Federal Grants and Fiscal Balance : The Instrument and the Goal , " Public Policy , Vol . 20 , No. Fiscal impulse measures are used in the WEO and elsewhere to indicate the changing impact of the budget on the economy. Further reform of Hungary's new system for financing local government should strengthen local own- source revenues and should revise the normative grant, simplifying it and making allowances for local governments' revenue- raising capacity. Topics discussed in this publication include: an introduction to theoretical and practical aspects of fiscal sustainability; theoretical prerequisites for fiscal sustainability analysis; debt indicators in the measurement of vulnerability; ... Found inside – Page 215For example , an employer may create an opening account balance that is designed to ... if the cash balance formula had been in effect in prior years . In this third edition of his classic book The Federal Budget, Allen Schick examines how surpluses projected during the final years of the Clinton presidency turned into oversized deficits under George W. Bush. Found inside – Page 1Second , an improvement in the overall fiscal balance is targeted given the apparent bias of the current IRA formula for cities . Lastly , an enhancement in the efficiency , equity and effectiveness in local service delivery is desired given the ... Found inside – Page 435... proper distributional formula in the latter cases ) would improve metropolitan fiscal balance when substituted for a portion of the local property tax . Found inside – Page 40Such formulas identify the minimal primary balance necessary to avoid an explosive ... By these standards, the fiscal position during most of the inflation ... Found inside – Page 138Grants - in - aid are either formula grants or project grants . ... need ( such as population ) or fiscal capacity ( usually per capita personal income ) . Found inside – Page 49The main purpose of the structural balance is to show the fiscal position net of ... The first approach adjusts the structural balance formula beyond the ... Found inside – Page 10A first approach adjusts the fiscal balance formula beyond the output gap (Bornhorst and others, 2011; Liu, Mattina, and Poghosyan, 2015). Found inside – Page 124on the participant's compensation and years of service , if the cash balance formula had been in effect in prior years . As another example , an employer ... Found inside – Page 8The oil and gas bill , also being debated by the House of Representatives , likewise does not provide a clear - cut revenue sharing formula . Arryman said the bill on striking a fiscal balance between the central government and local ... This paper discusses how decentralized countries can achieve sound fiscal relations between the central government and lower government levels. They propose three alternative fiscal paths that are more responsible than the current path. One plan emphasizes spending cuts, the second emphasizes revenue increases, and a third is a balanced mix between the two. Found inside – Page 32To avoid this, these negative fiscal gap local governments were set to ... which prescribes the fiscal balance secretariat to submit a formula to the ... Found inside – Page 145Should the Congress adopt a formula approach to balancing the budget such as a Constitutional amendment mandating budgetary balance ? ANSWER . Found inside – Page 53Horizontal fiscal equalisation ( HFE ) . ... Fiscal Flows , Fiscal Balance , Balance and Fiscal Sustainability ( Atlanta : GSU , 2003 ) , online at ... The Southern African Customs Union (SACU), the oldest customs union in the world, comprises Botswana, Lesotho, Namibia, Swaziland (known as the BLNS countries), and South Africa. Based on model analysis, this paper explores the advantages of implementing fiscal rules to deal with such volatility. This volume, edited by Mario I. Blejer and Adrienne Cheasty, is organized around four issues: the adequacy of summary measures of the fiscal deficit, conventional and adjusted deficits, coverage (size) of the public sector, and the public ... Added-value of this summary: • Save time • Understand the deterioration of American finances in the run-up to the 2008 financial crisis • Expand your knowledge of American politics and economics To learn more, read "Running on Empty" ... Principles of Economics covers the scope and sequence for a two-semester principles-of-economics course. The text has been developed to meet the scope and sequence of most introductory courses. Found insideThis paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and ... Debates over fiscal arrangements in Canada are not new. Found inside – Page 435... proper distributional formula in the latter cases ) would improve metropolitan fiscal balance when substituted for a portion of the local property tax . He finds that the deficit has not been as large as recently measured and that efforts to reduce the deficit may do more harm than good. This book will spark serious debate among economists and policymakers. The enactment of the Fiscal Responsibility Law in 2013, which came into force in 2015, was a major achievement toward strengthening Paraguay’s fiscal framework. Based on model analysis, this paper explores the advantages of implementing fiscal rules to deal with such volatility. Found inside – Page 388Policy Simulations The following policy simulation exercises are made to explore alternative transfer formulas to improve overall fiscal balance. Found inside – Page 7destabilizing effects on the economy and made budget management more complex. ... The structural balance formula considered by the authorities is adapted to ... Found inside – Page 162For example , suppose the value of the protected accrued benefit is $ 40,000 , and the opening account balance under the cash balance formula provides a ... Beckerman describes a spreadsheet planning model to help determine the government deficit consistent with a policymaker's vector of principal macroeconomic objectives (including real GDP growth, inflation, exchange rate, and international ... Found inside – Page 293... improve the vertical fiscal balance by providing general-purpose funding at the ... In international practice there are countries that use formulas to ... By addressing clear priorities in accountability, opportunity, families and communities, and security - while laying the foundation for budgets to come - Budget 2006 charts a new course for building a better Canada. Found inside – Page 251Horizontal balance The FFC has proposed a three-part grant formula. ... The third part of the formula focuses on “fiscal capacity equalization” of the ... 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