In Search of Lost Revenue : Why Restoring Fiscal Soundness After a Crisis is Harder Than it Looks / Masato Miyazaki.

Format:

Book

Government document

Author/Creator:

Miyazaki, Masato.

Series:

IMF Working Papers; Working Paper ; No. 2010/137

IMF Working Papers

Language:

English

Subjects (All):

Financial crises.

Fiscal policy.

Physical Description:

1 online resource (36 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2010.

Summary:

This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue growth, its adjustment has to rely more on revenue augmentation than commonly thought. Cutting extra spending in the wake of the crisis would not balance the book, while a natural growth of tax revenue after the recovery may take a long time before financing the pre-crisis level of expenditure. Faced with unpopular choices, the government may implicitly prefer seeing higher inflation.

Contents:

Cover Page; Title Page; Copyright Page; Contents; Executive Summary; I Introduction; II A Simple Model to Illustrate a Fiscal Exit; III A More Realistic Model That Envisages Long Sluggish Revenue Growth; IV Application to Some Examples; V Policy Implications; VI Conclusion; Appendix; References; Footnotes

Notes:

"June 2010."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612846120

9781462317400

1462317405

9781455218264

145521826X

9781282846128

1282846124

9781455201204

1455201200

OCLC:

867926656