Post-crisis fiscal policy / edited by Carlo Cottarelli, Philip Gerson, and Abdelhak Senhadji.

Format:

Book

Author/Creator:

Cottarelli, Carlo, author, editor.

Gerson, Philip R., author, editor.

Senhadji, Abdelhak S., author, editor.

Language:

English

Subjects (All):

Fiscal policy.

Financial crises.

Global Financial Crisis, 2008-2009.

International Monetary Fund.

Physical Description:

1 online resource (vii, 562 pages) : illustrations

Place of Publication:

Cambridge, Massachusetts : The MIT Press, [2014]

Language Note:

English

Summary:

Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appropriate response to fluctuations in economic activity. After establishing its analytical foundation, with chapters on such topics as fiscal risk and debt dynamics, this book analyzes the buildup of fiscal vulnerabilities before the crisis, presents the policy response during the crisis, discusses the fiscal outlook and policy challenges ahead, and offers lessons learned from the crisis and its aftermath.

Contents:

Fiscal sustainability and fiscal risk : an analytical framework / Carlo Cottarelli

Debt dynamics and fiscal sustainability / Carlo Cottarelli and Julio Escolano

The determinants of the interest-rate-growth differential / Julio Escolano

Determinants of the primary fiscal balance : evidence from a panel of countries / Li Zeng

The relationship between debt levels and growth / Manmohan S. Kumar and Jaejoon Woo

Fiscal trends and fiscal stress prior to the crisis / Jiri Jonas and Iva Petrova

Current debt crisis in historical perspective / S. Ali Abbas [and others]

The other crisis : sovereign distress in the Euro area / S. Ali Abbas [and others]

Has taxation contributed to the crisis? / John Norregaard [and others]

Fiscal policy response in advanced and emerging market economies / Elif Arbatli [and others]

Fiscal policy response during the crisis in low-income African economies / Martine Guerguil, Marcos Poplawski-Ribeiro, and Anna Shabunina

Size of fiscal multipliers / Aiko Mineshima, Marcos Poplawski-Ribeiro, and Anke Weber

Coordination of fiscal and monetary policies / Mika Kortelainen, Douglas Laxton, and Jack Selody

Financial sector support : why did costs differ so much? / Ceyla Pazarbasioglu, Uffe Mikkelsen, and Suchitra Kumarapathy

Impact of the crisis and policy response at the sub-national level / Borja Gracia, Jimmy McHugh, and Tigran Poghosyan

Fiscal outlook in advanced and emerging markets / Laura Jaramillo and Pablo Lopez-Murphy

Escaping high debt : the narrow path ahead / Lorenzo Forni and Marialuz Moreno Badia

Institutional reforms and fiscal adjustment / Xavier Debrun and Andrea Schaechter

Long-term fiscal challenges / Baoping Shang and Mauricio Soto

Fiscal adjustment, growth, and global imbalances / Mika Kortelainen, Douglas Laxton, and Jack Selody

Policy lessons from the crisis and the way forward / Carlo Cottarelli, Philip Gerson, and Abdelhak Senhadji.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Includes bibliographical references at the end of each chapters and index.

OCLC-licensed vendor bibliographic record.

ISBN:

0-262-32411-3

OCLC:

883366092