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  1. The composition of fiscal consolidation matters
    policy simulations for Hungary
    Published: 2013
    Publisher:  International Monetary Fund, Washington, D.C

    This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and... more

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    This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and expenditure measures, has important implications for growth, employment, investment, and other key macroeconomic variables. A reduction in current expenditures yields the smallest GDP contraction in the short term and can increase output in the long term by stimulating labor participation and private investment. On the other end of the spectrum, a consolidation of government investment and corporate taxes are the most costly, as disincentives for private investment result in protracted declines in GDP that compound over time to GDP losses that are multiple times the initial size of the consolidation

     

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  2. The composition of fiscal consolidation matters
    policy simulations for Hungary
    Published: 2013
    Publisher:  IMF, Washington, DC

    This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and... more

    Hochschulbibliothek Friedensau
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    Hochschule für Wirtschaft und Umwelt Nürtingen-Geislingen, Bibliothek Nürtingen
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    This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and expenditure measures, has important implications for growth, employment, investment, and other key macroeconomic variables. A reduction in current expenditures yields the smallest GDP contraction in the short term and can increase output in the long term by stimulating labor participation and private investment. On the other end of the spectrum, a consolid

     

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    Content information
    Volltext (lizenzpflichtig)
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781484305225
    Series: IMF working paper ; 13/207
    IMF Working Papers
    Subjects: Haushaltskonsolidierung; Wirkungsanalyse; Ungarn; Fiscal policy -- Hungary; Electronic books
    Scope: Online-Ressource (28 S.), graph. Darst.
    Notes:

    Description based upon print version of record

    Cover; Abstract; Contents; I. Introduction; II. Fiscal Policy Context; III. Model Overview; A. Key Model Features; B. Economy Sectors; Figures; 1. Simplified Presentation of GIMF Sectors 1/; IV. Calibration; Tables; 1. Calibration; 2. Trade Matrix; V. Policy Simulation: Fiscal Consolidation Instruments; 3. Policy Rules; Consolidation of Government Investment; 2: Permanent Fiscal Consolidation Using Alternative Fiscal Instruments; 3: Impact of 1 Percent of GDP Permanent Fiscal Consolidation on National Accounts

    4: Impact of 1 Percent of GDP Permanent Fiscal Consolidation on Inflation, Exchange Rates and Interest RatesConsolidation of Government Consumption; Consolidation of Government Transfers-General and Targeted; Consolidation with Consumption Taxes; Consolidation with Corporate Income Taxes; Consolidation with Labor Taxes; VI. Conclusions; 4: Maximum Declines Relative to Baseline after 1 Percent of GDP Consolidation; Appendixes; 1. Dynamic Parameters Calibrations; Table A.1. Preferences and Population Related; Table A.2. Production, Distribution and Finance

    Table A.3. Corporate Sector CalibrationReferences

  3. The composition of fiscal consolidation matters
    policy simulations for Hungary
    Published: 2013
    Publisher:  International Monetary Fund, Washington, D.C

    This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and... more

    Access:
    Verlag (kostenfrei)
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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
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    This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and expenditure measures, has important implications for growth, employment, investment, and other key macroeconomic variables. A reduction in current expenditures yields the smallest GDP contraction in the short term and can increase output in the long term by stimulating labor participation and private investment. On the other end of the spectrum, a consolidation of government investment and corporate taxes are the most costly, as disincentives for private investment result in protracted declines in GDP that compound over time to GDP losses that are multiple times the initial size of the consolidation

     

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