 | Fiscal Crises Author/Editor: Kerstin Gerling, Paulo A Medas, Tigran Poghosyan, Juan Farah-Yacoub, Yizhi Xu. Release Date:April, 2017 A key objective of fiscal policy is to maintain the sustainability of public finances and avoid crises. Remarkably, there is very limited analysis on fiscal crises. This paper presents a new database more...
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 | Labor and Product Market Reforms in Advanced Economies : Fiscal Costs, Gains, and Support Author/Editor: Angana Banerji, Valerio Crispolti, Era Dabla-Norris, Romain A Duval, Christian H Ebeke, Davide Furceri, Takuji Komatsuzaki, Tigran Poghosyan. Release Date:March, 2017 Product and labor market reforms are needed to lift persistently sluggish growth in advanced economies. But reforms have progressed slowly because of concerns about their distributive and short-term more...
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| Fiscal Politics in the Euro Area Author/Editor: Luc Eyraud, Vitor Gaspar, Tigran Poghosyan. Release Date:January, 2017 This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data more...
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| Can Property Taxes Reduce House Price Volatility? Evidence from U.S. Regions Author/Editor: Tigran Poghosyan. Release Date:November, 2016 We use a novel dataset on effective property tax rates in U.S. states and metropolitan statistical areas (MSAs) over the 2005–2014 period to analyze the relationship between property tax rates and more...
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| The Role of Fiscal Transfers in Smoothing Regional Shocks : Evidence from Existing Federations Author/Editor: Tigran Poghosyan, Abdelhak S Senhadji, Carlo Cottarelli. Release Date:July, 2016 We assess the extent to which fiscal transfers smooth regional shocks in three large federations: the U.S., Canada, and Australia. We find that fiscal transfers offset 4-11 percent of idiosyncratic more...
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| Macroeconomic Stability in Resource-Rich Countries : The Role of Fiscal Policy Author/Editor: Elva Bova, Paulo A. Medas, Tigran Poghosyan. Release Date:February, 2016 Resource-rich countries face large and persistent shocks, especially coming from volatile
 commodity prices. Given the severity of the shocks, it would be expected that these more...
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| Leading Indicators of Fiscal Distress : Evidence from the Extreme Bound Analysis Author/Editor: Martin Bruns, Tigran Poghosyan. Release Date:February, 2016 Early warning systems (EWS) are widely used for assessing countries’ vulnerability to fiscal distress. Most EWS employ a specific set of only fiscal leading indicators predetermined by the more...
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| How Do Public Debt Cycles Interact with Financial Cycles? Author/Editor: Tigran Poghosyan. Release Date:November, 2015 We employ a duration model to study determinants of public debt cycles in 57 advanced and emerging economies over the 1960–2014 period, with a particular focus on the impact of financial more...
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| Correcting "Beyond the Cycle" : Accounting for Asset Prices in Structural Fiscal Balances Author/Editor: Estelle X. Liu, Todd Mattina, Tigran Poghosyan. Release Date:May, 2015 This paper outlines an operational approach for incorporating the impact of asset price cycles in the calculation of structural fiscal balances (SFBs). The global financial crisis demonstrated that more...
| Price: $18.00
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| Fiscal Multipliers in Ukraine Author/Editor: Pritha Mitra, Tigran Poghosyan. Release Date:March, 2015 Amid renewed crisis, falling tax revenues, and rising debt, Ukraine faces serious fiscal
consolidation needs. Durable fiscal adjustment can support economic confidence and more...
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