- Key Issues
- Fiscal Issues at the IMF
IMF on Fiscal Challenges
On the Ground
IMF’s latest Fiscal Monitor
At a time when Europe is working its way out of the sovereign debt crisis and implementing Banking Union and Financial Union, it is worthwhile to search for lessons from early U.S. history.
This paper presents twelve budget institutions that can support planning and delivery of credible fiscal strategies in the fiscal policy-making process.
Some scholars have argued that direct distribution of natural resource revenues to the population would help resource-rich countries escape the “resource curse.” This Staff Discussion Note analyzes whether this proposal is a viable policy alternative for resource-rich countries.
This pilot Fiscal Transparency Evaluation for Portugal was prepared by a staff team of the International Monetary Fund based on the July 2013 version of the revised Fiscal Transparency Code and the information available at the completion of their visit to Lisbon on May 14, 2014.
The sizeable fiscal consolidation required to stabilize the debt-to-GDP ratios in several countries in the aftermath of the global crisis raises a crucial question on its feasibility.
This paper calculates, for the top twenty emitting countries, how much pricing of carbon dioxide (CO2) emissions is in their own national interests due to domestic co-benefits (leaving aside the global climate benefits).
By how much will faster economic growth boost government revenue? This paper estimates short- and long-run tax buoyancy in OECD countries between 1965 and 2012.
This paper documents the spread of fiscal rules in the developing world and investigates the relation between fiscal rules and procyclical fiscal policy.
Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research.
Need to Know
We examine how the composition of public debt, broken down by currency, maturity, holder profile and marketability, has responded to major debt accumulation and consolidation episodes during 1900-2011.
Japan can introduce micro- and macro-reforms to contain health spending, and financing options should be designed to enhance equity.
This paper explores how corporate income tax reform can help Japan increase investment and boost potential growth.
This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries.
What People Are Saying
Global unemployment currently exceeds 200 million people. An additional 13 million people are expected to be unemployed by 2018.
At a time when Japan needs to boost economic growth, the corporate income tax rate is generally seen as the country’s most growth-distortive tax.
In a new IMF book, we look at precisely how policymakers can strike the right balance between the substantial economic benefits of energy use and its harmful environmental side effects.
The book Post-Crisis Fiscal Policy, edited by Carlo Cottarelli, Philip Gerson and Abdelhak Senhadji, brings together the analysis underpinning the IMF’s position on the evolving role of fiscal policy.
This book develops a practical methodology, and associated tools, to show how the major environmental damages from energy can be quantified for different countries and used to design the efficient set of energy taxes.
The book underscores how the global financial crisis has reshaped our understanding of the role of fiscal policy with topics that include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool and more.
Revenues from natural resources often pose unique challenges for tax administration. This Handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries.
This book brings together the latest research on equity issues related to pension systems and pension reforms in the post-crisis world.
At the fiscal forefront
- IMF Moving Forward on Energy Tax Reform
- Vítor Gaspar: The IMF’s New Fiscal Policy Head
- Energy Subsidy Reform: Lesson and Implications
- Public Financial Management and Its Emerging Architecture
- Fiscal Forum: The Evolving Role of Fiscal Policy
- Rethinking Macro Policy: First Steps and Early Lessons
- Fiscal Adjustment in an Uncertain World
- Interview with Carlo Cottarelli
- Partnerships for Change: Timor-Leste (October 10, 2012)
- The Economics of Public Health Care Reform in Advanced and Emerging Economies
- Africa Develops: IMF Technical Assistance in Mali (English and French)
- Africa Rebuilds: IMF Technical Assistance in Liberia