Coverart for item
The Resource Fiscal implications of the global economic and financial crisis, by a staff team from the Fiscal Affairs Department

Fiscal implications of the global economic and financial crisis, by a staff team from the Fiscal Affairs Department

Label
Fiscal implications of the global economic and financial crisis
Title
Fiscal implications of the global economic and financial crisis
Statement of responsibility
by a staff team from the Fiscal Affairs Department
Contributor
Issuing body
Subject
Genre
Language
eng
Summary
The economic and financial crisis is affecting the fiscal accounts of virtually every country. Public sector support for the financial system, fiscal stimulus and the automatic stabilizers, as well as the revenue decline from the downturn in commodity and asset prices, are leading to sharp increases in deficits and debt stocks around the world. Expansionary fiscal policy continues to be necessary in the short term to stimulate economic recovery. But it is now essential that governments reassess the state of their public finances in light of the global crisis and adopt strategies that will ensure medium- and long-term fiscal sustainability. Many of the advanced economies most affected by the crisis are also those where age-related spending will increase markedly in the coming years, adding particular urgency to the need to identify medium-term consolidation strategies. This new paper, which focuses mainly on advanced and emerging market economies, employs projections based on the April 2009 World Economic Outlook to quantify the fiscal implications of the crisis for a cross-section of countries. The authors assess the post-shock fiscal balances and debt outlook, and suggest ways for governments to clarify their strategies for maintaining fiscal solvency
Member of
Action
digitized
Cataloging source
CEF
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
Government publication
international or intergovernmental publication
Index
index present
Language note
English
LC call number
  • HB3722
  • HG3881.5.I58
LC item number
.F573 2009 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
International Monetary Fund
Series statement
Occasional paper
Series volume
269
http://library.link/vocab/subjectName
  • Global Financial Crisis (2008-2009)
  • Debts, Public
  • Economic stabilization
  • Finance, Public
  • Fiscal policy
  • Global Financial Crisis, 2008-2009
  • Crise économique
  • Crise financière
  • Aspects socio-économiques
  • Economie internationale
  • Pensions de retraite
  • Finances publiques
  • Dette publique
  • Debts, Public
  • Economic stabilization
  • Finance, Public
  • Fiscal policy
  • Wirtschaftskrise
  • Finanzmarktkrise
  • Finanzpolitik
  • Welt
  • Business & Economics
  • Economic Theory
Label
Fiscal implications of the global economic and financial crisis, by a staff team from the Fiscal Affairs Department
Instantiates
Publication
Note
Available in PDF, ePUB, and Mobi formats on the Internet
Bibliography note
Includes bibliographical references (pages 81-83)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; Preface; Abbreviations; I: Overview; II: Fiscal Implications of the Crisis: Direct Costs; Headline Support to Financial Sectors; Net Cost over the Medium Term; Boxes; 2.1. Fiscal Accounting Treatment of Support to the Financial Sector; Tables; 2.1. Headline Support for Financial and Other Sectors and Upfront Financing Need; Potential Total Cost of Implicit and Explicit Guarantees; III: Fiscal Implications of the Crisis: The Cost of the Recession; Automatic Stabilizers; Other Nondiscretionary Effects; 3.1. G-20 Countries: Contribution of Automatic Stabilizers
  • 3.2. Loss of Fiscal Revenue Due to Commodity Price Movements3.3. G-20 Countries: Other Nondiscretionary Factors; Discretionary Responses to the Crisis; 3.4. G-20 Countries: Estimated Cost of Discretionary Measures; 3.5. G-20 Stimulus Measures, 2008-10; Figures; 3.1. Composition of Discretionary Fiscal Measures in G-20 Countries, 2008-10; IV: Fiscal Implications of the Crisis: Effects Through the Funded Component of the Pension System; Losses of Funded Pension Schemes; Risks for Fiscal Accounts; 4.1. Pension Fund Assets in OECD Countries; 4.2. Pension Plan Assets by Economy, End-2007
  • V: The Outlook for Public Finances in Light of the CrisisShort-Term Outlook; The Medium-Term Outlook and Risk Assessment; 5.1. G-20 Countries: Change in Fiscal Balances and Government Debt; 5.1. G-20 Countries: Outlook for Public Finances; 5.2. Impact of the Crisis on Public Finances: Contributing Factors; 5.3. G-20 Advanced Countries: Evolution of Government Debt; 5.4. Lower Growth Scenario; 5.2. Public Finances; 5.5. Prolonged Slowdown Scenario; 5.6. Government Debt in Case of Prolonged Slowdown, Higher Interest Rate, and Contingent Liability Shock
  • VI: The Risk for Fiscal Solvency and the Appropriate Policy ResponseThe Level of Government Debt; 6.1. Long-TermGovernment Bond Yields and Spreads; The Dynamics of Government Debt: Current and Future Deficits; 6.1. Debt/GDP Stabilizing Primary Balance; 6.1. Historical Episodes of Major Accumulations and Decumulations of Government Debt; The Way Forward; 6.2. Selected Countries: Public Debt-to-GDP Ratio; 6.2. Debt and Primary Balance; 6.3. Fiscal Costs of Aging; 6.3. Population Aging in Emerging Market Countries, 2005 and 2050; 6.4. Advanced G-20 Countries: Government Debt
  • 6.2. Post-Banking-Crisis Fiscal Consolidation: Finland and Sweden During the 1990s6.4. Emerging Economies: Selected Debt Reduction Episodes; 6.5. EU-5 Countries: Outlook for Fiscal Balance Versus 2006 Stability Program; 6.5. Net Present Value of Impact on Fiscal Deficit of Crisis and Aging-Related Spending; Appendixes; I. Reporting the Fiscal Impact of Financial Sector Support; A1.1. Statistical Treatment of Government Intervention (Under GFSM 1986); A1.2. Statistical Treatment of Government Intervention (Under GFSM 2001); II. Financial Sector Support Measures
Control code
815746139
Dimensions
unknown
Extent
1 online resource (85 pages)
Form of item
online
Isbn
9781451994148
Lccn
2010280564
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
http://library.link/vocab/ext/overdrive/overdriveId
11409079
Publisher number
MWT11409079
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
(OCoLC)815746139
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Label
Fiscal implications of the global economic and financial crisis, by a staff team from the Fiscal Affairs Department
Publication
Note
Available in PDF, ePUB, and Mobi formats on the Internet
Bibliography note
Includes bibliographical references (pages 81-83)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; Preface; Abbreviations; I: Overview; II: Fiscal Implications of the Crisis: Direct Costs; Headline Support to Financial Sectors; Net Cost over the Medium Term; Boxes; 2.1. Fiscal Accounting Treatment of Support to the Financial Sector; Tables; 2.1. Headline Support for Financial and Other Sectors and Upfront Financing Need; Potential Total Cost of Implicit and Explicit Guarantees; III: Fiscal Implications of the Crisis: The Cost of the Recession; Automatic Stabilizers; Other Nondiscretionary Effects; 3.1. G-20 Countries: Contribution of Automatic Stabilizers
  • 3.2. Loss of Fiscal Revenue Due to Commodity Price Movements3.3. G-20 Countries: Other Nondiscretionary Factors; Discretionary Responses to the Crisis; 3.4. G-20 Countries: Estimated Cost of Discretionary Measures; 3.5. G-20 Stimulus Measures, 2008-10; Figures; 3.1. Composition of Discretionary Fiscal Measures in G-20 Countries, 2008-10; IV: Fiscal Implications of the Crisis: Effects Through the Funded Component of the Pension System; Losses of Funded Pension Schemes; Risks for Fiscal Accounts; 4.1. Pension Fund Assets in OECD Countries; 4.2. Pension Plan Assets by Economy, End-2007
  • V: The Outlook for Public Finances in Light of the CrisisShort-Term Outlook; The Medium-Term Outlook and Risk Assessment; 5.1. G-20 Countries: Change in Fiscal Balances and Government Debt; 5.1. G-20 Countries: Outlook for Public Finances; 5.2. Impact of the Crisis on Public Finances: Contributing Factors; 5.3. G-20 Advanced Countries: Evolution of Government Debt; 5.4. Lower Growth Scenario; 5.2. Public Finances; 5.5. Prolonged Slowdown Scenario; 5.6. Government Debt in Case of Prolonged Slowdown, Higher Interest Rate, and Contingent Liability Shock
  • VI: The Risk for Fiscal Solvency and the Appropriate Policy ResponseThe Level of Government Debt; 6.1. Long-TermGovernment Bond Yields and Spreads; The Dynamics of Government Debt: Current and Future Deficits; 6.1. Debt/GDP Stabilizing Primary Balance; 6.1. Historical Episodes of Major Accumulations and Decumulations of Government Debt; The Way Forward; 6.2. Selected Countries: Public Debt-to-GDP Ratio; 6.2. Debt and Primary Balance; 6.3. Fiscal Costs of Aging; 6.3. Population Aging in Emerging Market Countries, 2005 and 2050; 6.4. Advanced G-20 Countries: Government Debt
  • 6.2. Post-Banking-Crisis Fiscal Consolidation: Finland and Sweden During the 1990s6.4. Emerging Economies: Selected Debt Reduction Episodes; 6.5. EU-5 Countries: Outlook for Fiscal Balance Versus 2006 Stability Program; 6.5. Net Present Value of Impact on Fiscal Deficit of Crisis and Aging-Related Spending; Appendixes; I. Reporting the Fiscal Impact of Financial Sector Support; A1.1. Statistical Treatment of Government Intervention (Under GFSM 1986); A1.2. Statistical Treatment of Government Intervention (Under GFSM 2001); II. Financial Sector Support Measures
Control code
815746139
Dimensions
unknown
Extent
1 online resource (85 pages)
Form of item
online
Isbn
9781451994148
Lccn
2010280564
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
http://library.link/vocab/ext/overdrive/overdriveId
11409079
Publisher number
MWT11409079
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
(OCoLC)815746139
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

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