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Author/Editor:
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Kanda, Daniel
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Publication Date:
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March 01, 2010
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Electronic Access:
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Free Full text
(PDF file size is 1,038KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
Asset booms and sectoral changes can distort traditional estimates of structural fiscal revenue, and could lead to serious fiscal policy errors. This paper extends the estimation of structural revenues to take account of asset prices and sectoral changes, and applies this to the case of Ireland, where a property bust has revealed a large hole in the public finances. It is shown that excluding these factors led to a substantial bias in the estimation of structural revenues, and the structural balance prior to the crisis was much larger than earlier estimated.
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Order a print copy
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Series:
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Working Paper No. 10/57
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Subject(s):
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Asset prices | Business cycles | Economic growth | Economic models | Fiscal analysis | Fiscal policy | Government expenditures | Housing prices | Ireland | National income | Revenues | Taxes
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Author's Keyword(s):
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Structural Fiscal Balance | Asset Price Cycle | Property Bubble | Ireland |
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English
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Publication Date:
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March 01, 2010
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Format:
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Paper
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Stock No:
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WPIEA2010057
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Pages:
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23
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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