Author/Editor: Francesco Grigoli.

Release Date: July, 2012

Good practice suggests that budget allocations should reflect spending priorities and that spending should provide cost-effective delivery of public goods and services. This paper analyzes the more...

Author/Editor: Jorge A. Chan-Lau, Estelle X. Liu, Jochen M. Schmittmann.

Release Date: July, 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened more...

Author/Editor: Dirk Heine, John Norregaard, Ian W.H. Parry.

Release Date: July, 2012

This paper recommends a system of upstream taxes on fossil fuels, combined with refunds for downstream emissions capture, to reduce carbon and local pollution emissions. Motor fuel taxes should also more...

Author/Editor: Nicoletta Batini, Giovanni Callegari, Giovanni Melina.

Release Date: July, 2012

The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract more...

Release Date: June, 2012

Release Date: June, 2012

Release Date: June, 2012

Release Date: June, 2012

The Sixth Review Under the Extended Arrangement with Ireland highlights that Ireland’s policy implementation has continued to be steadfast. Ownership of the program remains strong despite the more...

Author/Editor: Seok Gil Park.

Release Date: June, 2012

This paper quantitatively investigates how population aging trend affects fiscal space measured as unused revenue generating capacity by utilizing a standard neoclassical growth model. A calibration more...

Release Date: May, 2012

Release Date: May, 2012

Release Date: May, 2012

Author/Editor: international Monetary Fund, .

Release Date: May, 2012

Release Date: May, 2012

Release Date: May, 2012

Author/Editor: Pritha Mitra, Cyril Pouvelle.

Release Date: May, 2012

Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger productivity growth would allow Bulgaria to close the income gap with the EU more...

Author/Editor: Ibrahim Chowdhury, Leonor Keller.

Release Date: May, 2012

Many emerging market economies have in the recent past experienced a surge in capital inflows that may threaten their economic and financial stability. The IMF in early 2011 proposed a framework more...

Release Date: April, 2012

Barring the realization of downside risks to the global economy, growth in the Asia and the Pacific region is expected to gain momentum over the course of 2012, according to this report, and now more...

Release Date: April, 2012

This staff report considers Georgia’s request for a Stand-By Arrangement and an arrangement under the Standby Credit Facility. Performance in 2011 has been stronger than originally envisaged, with more...

Release Date: April, 2012

Overall, fiscal risks remain elevated, according to this issue, although there are signs that in some key respects they are less acute than six months ago. Past efforts with fiscal consolidation are more...