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2 edition of Fiscal deficits, monetary reform and inflation in transition economies found in the catalog.

Fiscal deficits, monetary reform and inflation in transition economies

Nina Budina

Fiscal deficits, monetary reform and inflation in transition economies

the case of Bulgaria

by Nina Budina

  • 131 Want to read
  • 30 Currently reading

Published by Institut für Höhere Studien/Institute for Advanced Studies in Vienna .
Written in English

    Subjects:
  • Bulgaria -- Economic conditions -- 1989-,
  • Bulgaria -- Economic policy -- 1989-

  • Edition Notes

    StatementNina Budina and Swedervan Wijnbergen.
    SeriesInstitut für Höhere Studien -- no.21, March 1995, Institute for Advanced Studies -- no.21, March 1995
    ContributionsWijnbergen, Sweder van, 1951-, Institut für Höhere Studien und Wissenschaftliche Forschung.
    The Physical Object
    Pagination18p.,6p. :
    Number of Pages18
    ID Numbers
    Open LibraryOL17296101M

    Fiscal policy, public debt and monetary policy in EMEs: an overview M 1S Mohanty 1. Introduction During the s and s, the vulnerability of EMEs to shocks was often exacerbated by high fiscal deficits, underdeveloped domestic bond markets, and largecurrency and maturity mismatches. Fiscal Deficits, Exchange Rate Crises and Inflation Sweder van Wijnbergen. NBER Working Paper No. Issued in NBER Program(s):International Trade and Investment, International Finance and Macroeconomics The analysis focuses on the government budget constraint and the resolution of inconsistent implications of different policy instruments under that constraint.

    important determinants of mounting fiscal deficit. Key Words: Budget Deficit, Inflation, Money supply. JEL Classification: C12, E31, E51, H62 1. Introduction The relationship between budget deficit/fiscal deficit, money growth, government expenditure and inflation has acquired a prominent place in literature on monetary Size: KB.   An increase in the fiscal deficit, in theory, can boost a sluggish economy by giving more money to people who can then buy and invest more. Long-term deficits.

    the inflation rate in Vietnam. Fiscal balance Restrictive fiscal policy and monetary policy have played an important role in bringing hyperinflation down in the s and early s.5 Since this period, the fiscal deficit has been largely contained, and since the fiscal deficit has been about 3% of GDP and sometimes even below.   As China faces up to the severe economic impact of Covid, advocates for deficit monetization hope that fiscal and monetary policy can “truly coordinate and cooperate, and join forces.” Although this is a good starting point, there is little basis for the oft-cited argument that deficit monetization doesn’t cause inflation, doesn’t.


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Fiscal deficits, monetary reform and inflation in transition economies by Nina Budina Download PDF EPUB FB2

The framework is designed to be applicable in transition economies, where reliable data are at a premium and the financial sector in a state of flux. The model is applied to Bulgaria and is used to assess the impact of financial reform, debt management and external debt relief on the relation between fiscal deficits and sustainable inflation.

Lekha Chakraborty’s new book, "Fiscal Consolidation, Budget Deficits and the Macro Economy," adds new insight to the venerable topic of how to conduct fiscal policy in the context of a developing specific applications to India’s complex case is especially welcome, in the face of India’s rapidly changing economic structure and in its conduct of fiscal, monetary, and 5/5(2).

A simple framework links debt, the deficit, and inflation to assess the fiscal stance of the Romanian economy. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): Fiscal problems are widely recognized as a key factor behind persistent inflation in Eastern Europe post Deficits need to be cut back, but how much for a given inflation target.

We develop a simple framework on debt, deficit and inflation to study the fiscal and monetary policy interactions for the Romanian economy.

The model is applied to Bulgaria and is used to assess the impact of financial reform, debt management and external debt relief on the relation between fiscal deficits and sustainable inflation. Downloadable (with restrictions). Fiscal problems are widely recognized as a key factor behind persistent inflation in Eastern Europe post Deficits need to be cut back, but how much for a given inflation target.

We develop a simple framework on debt, deficit and inflation to study the fiscal and monetary policy interactions for the Romanian economy. Fiscal deficits, monetary reform, and inflation stabilization in Romania (English) Abstract. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target.

The authors develop a simple framework for debt, the Cited by: Fiscal deficits, monetary reform, and inflation stabilization in Romania (Английский) Аннотация. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target?Cited by: Fiscal deficits, monetary reform, and inflation stabilization in Romania (Inglês) Resumo.

Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target. The authors develop a simple framework for debt, the deficit Cited by:   Macroeconomic theory postulates that fiscal deficits cause inflation.

Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a new modeling approach that incorporates two key features of the theory. Unlike previous studies, we model inflation as nonlinearly related to fiscal deficits through the inflation tax Cited by: Fiscal deficits, monetary reform, and inflation stabilization in Romania (الانكليزية) الخلاصة.

Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Cited by: Get this from a library. Fiscal Deficits, Monetary Reform, and Inflation Stabilization in Romania. [Nina Budina; vanSweder Wijnbergen; World Bank.] -- March - Fiscal problems are a key factor behind the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target.

Fiscal deficits have been shown to matter not only during high and hyperinflations but also under moderate inflation ranges. Disaggregating by country groups, the deficit-inflation relationship is especially strong over a broad range of developing countries, also in contrast with the earlier by: Part of the influence of reform on inflation is likely to come through reduced budget deficits, particularly if the deficit is monetized.

However, there are other causes of fiscal deficits. The budget deficit is included for this reason, even though there might then be a problem of collinearity with the reform indices. 5Cited by: t4)5 -4 9e POLICY RESEARCH WORKING PAPE R Fiscal Deficits, Monetary Fiscal problems are a key Re form, and Inflation factor behind the inflation that has perststed in Eastern Stabililzation Stabilization in in Romania 1R*m*n*iEurope since Deficts need to be cut back, but by.

Get this from a library. Fiscal deficits and inflation. [Luis Catão; Marco Terrones; International Monetary Fund. Research Department.] -- Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship.

This paper reexamines the issue in light of. The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. The study finds no significant relationship between fiscal deficits and inflation in advanced and low-inflation economies, which is consistent with the fiscal.

Developed economies show weak or no association between budget deficit and inflation. 2 While in developing economies, most of the studies show that there is a positive relationship between fiscal. the effect of fiscal deficits on economic activities (Islam and Wetzel, ).

In the less developed countries includ-ing Nigeria, fiscal deficits have been blamed for much of the economic crises that beset them since the s; over-indebtedness and the debt crises; high inflation; poor in-vestment performance and growth (Onwioduokit, ).

Keywords: Fiscal reforms, Markets, Transition economies, privatization, tax administration, tax system, taxation, tax reform, state budget, tax rates IMF economists work closely with member countries on .Arab Countries in Transition: Economic Outlook and Key Challenges and the early impact of reform efforts.

Inflation was contained to below 5 percent in most countries except Egypt and Yemen. Budget positions and external current accounts also improved in many cases, which—for the first time since.Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition.

15 Years of Economic Transition In this paper we analyze how Western Balkans public finances adapted to the boom-bust cycle.

Large capital inflows into emerging European economies during the mids resulted in rapid economic growth and convergence to EU.