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Short- and Long-Term Poverty and Social Policy in a “Snakes and Ladders” Model of Growth
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ISBN: 1462371051 1451994451 1282107437 1451903839 9786613800787 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

Throughout the world, the great popularity of programs to protect those who may fall into poverty stands in contrast with the weakness of policies aimed at helping individuals who are already poor to overcome long-term poverty. In the paper, an OLG model with persistent poverty and limited social mobility is used to explore some of the reasons for the different success rates of these two types of policies, as well as the gains that can be expected from these and other policies in terms of economic growth. The popularity of social insurance schemes may be due to their relative ex-ante fairness, while the reluctance of societies to support effective policies to reduce long-term poverty may be explained by the redistributive bias of these policies, especially in the short term. However, the failure to attack long-term poverty can reduce long-run growth.


Book
Reforming Intergovernmental Fiscal Relations in Argentina
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ISBN: 1462328776 1451987447 1281238163 9786613777874 1451897286 Year: 2003 Publisher: Washington, D.C. : International Monetary Fund,

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Argentina has committed itself to a reform of its revenue-sharing system. This paper examines this system and the issues involved in its redesign, and discusses the pros and cons of various options with a view to specifying a preferred approach.


Book
Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters
Authors: ---
ISBN: 1462330568 1451994338 1283512688 1451992297 9786613825131 Year: 2008 Publisher: Washington, D.C. : International Monetary Fund,

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When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation while accepting first round effects. We analyze the experience of South Africa and other inflation targeters to explore whether and when this policy prescription implies changing the monetary policy stance. Inflation targeting central banks differ on how aggressively they typically react to relative price shocks, reflecting differences in resilience of underlying inflation to such shocks. An examination of individual policy decisions reveals the importance of the broader economic context in framing the responses to relative price shocks.


Book
Zimbabwe : Staff Report for the 2012 Article IV Consultation
Authors: ---
ISBN: 1475512104 1475512090 1283866919 1475512112 9781475512090 Year: 2012 Volume: no. 12/279 Publisher: Washington, D.C. : International Monetary Fund,

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Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of the 2012 Article IV consultation with Zimbabwe, the following documents have been released and are included in this package.

Keywords

Economic development --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Zimbabwe --- Economic conditions. --- Fiscal policy --- Economic indicators --- Business indicators --- Indicators, Business --- Indicators, Economic --- Leading indicators --- Economic history --- Quality of life --- Economic forecasting --- Index numbers (Economics) --- Social indicators --- Tax policy --- Taxation --- Finance, Public --- Government policy --- International Monetary Fund --- Internationaal monetair fonds --- International monetary fund --- E-books --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Money and Monetary Policy --- Public Finance --- Budgeting --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- National Government Expenditures and Related Policies: General --- Public Enterprises --- Public-Private Enterprises --- National Budget --- Budget Systems --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- International economics --- Public finance & taxation --- Banking --- Civil service & public sector --- Budgeting & financial management --- External debt --- Public debt --- Public and publicly-guaranteed external debt --- Arrears --- Budget planning and preparation --- Public financial management (PFM) --- Debts, External --- Debts, Public --- Banks and banking --- Expenditures, Public --- Budget


Book
Fiscal Challenges of Population Aging in Brazil
Authors: --- ---
ISBN: 1475596634 9781475596632 1475595557 9781475595550 Year: 2017 Publisher: [Washington, D.C.]

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In recent decades, population has been aging fast in Brazil while old age pensions and healthrelated spending have increased. As the population ages, the spending trend threaten to reach unsustainable levels absent reforms. Increasing the retirement age is key, but by itself will not provide sufficient savings to close the pension system financing gap, and reforms reducing replacement rates are necessary. In the area of health, there is scope for improving expenditure efficiency by strengthening outpatient care and regional networks, and developing clinical guidelines for cost-effective treatments and drugs. Reforms are urgent, so that they can be gradual.

Pension Regimes and Saving
Authors: --- --- ---
ISBN: 1557756406 1462310842 1452747962 9781557756404 Year: 1997 Volume: 153 Publisher: Washington, D.C. : International Monetary Fund,

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Public pension systems around the world have been criticized in recent years for some serious flaws, including the excessive burden they impose on the public finances and their depressing impact on saving rates. This study analyzes the impact of pension systems and pension reform on saving, paying particular attention to the impact of the introduction of defined-contribution plans like that of Chile. It also surveys the literature on the impact of pension regimes on saving, discusses some recent reforms, and addresses the role of private pension plans.

Keywords

Capital --- National savings --- Social security law --- Defined benefit pension plans --- Old age pensions --- Saving and investment --- Pension trusts --- Finance --- 368.382 --- -Pension trusts --- pensioenen --- sociale zekerheid --- pension --- securite sociale --- epargne pension --- international --- AA* / International - Internationaal --- 368.43 --- 339.311.0 --- 330.05 --- 331.252 --- Accumulation, Capital --- Capital accumulation --- Capital formation --- Investment and saving --- Saving and thrift --- Supply-side economics --- Wealth --- Investments --- Employee pension trusts --- Pension funds --- Pension plans --- Trusts and trustees --- Employees --- OASI (Old age and survivors insurance) --- Old age and survivors insurance --- Older people --- Retirement pensions --- Survivors' benefits (Old age pensions) --- Pensions --- Benefit-based pension plans --- Defined benefit plans --- Pension plans, Defined benefit --- Particuliere ziekteverzekering --- pensioen --- pensioensparen --- internationaal --- Ouderdomsverzekering. Voorbarige dood. Weduwen en wezen. --- Sparen: algemeenheden. --- Working papers --- Defined benefit pension plans. --- Pension trusts. --- Saving and investment. --- Finance. --- 368.382 Particuliere ziekteverzekering --- Sparen: algemeenheden --- Ouderdomsverzekering. Voorbarige dood. Weduwen en wezen --- Old age pensions - Finance --- Investments: General --- Labor --- Macroeconomics --- Public Finance --- Demography --- Nonwage Labor Costs and Benefits --- Private Pensions --- Social Security and Public Pensions --- Retirement --- Retirement Policies --- Economics of the Elderly --- Economics of the Handicapped --- Non-labor Market Discrimination --- Macroeconomics: Consumption --- Saving --- Labour --- income economics --- Population & demography --- Investment & securities --- Pension spending --- Aging --- Private savings --- Expenditure --- Population and demographics --- National accounts --- Population aging --- Wages --- Income --- United States


Book
Pension Privatization and Country Risk
Authors: --- --- ---
ISBN: 1451915063 1462371930 1282841467 9786612841460 1451870531 1452766231 Year: 2008 Volume: WP/08/195 Publisher: Washington, D.C. : International Monetary Fund,

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This paper explores how privatizing a pension system can affect sovereign credit risk. For this purpose, it analyzes the importance that rating agencies give to implicit pension debt (IPD) in their assessments of sovereign creditworthiness. We find that rating agencies generally do not seem to give much weight to IPD, focusing instead on explicit public debt. However, by channeling pension contributions away from the government and creating a deficit of resources to cover the current pension liabilities during the reform's transition period, a pension privatization reform may transform IPD into explicit public debt, adversely affecting a sovereign's perceived creditworthiness, thus increasing its risk premium. In this light, accompanying pension reform with efforts to offset its transition costs through fiscal adjustment would help preserve a country's credit rating.


Book
Pension Reform and the Fiscal Policy Stance
Authors: --- --- ---
ISBN: 1462355714 1452799474 1283294737 9786613823489 1451919581 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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The increased budget deficit caused by the privatization of a public pension plan does not imply a relaxation of the stance of fiscal policy. The reform's impact on the fiscal stance and national saving depends primarily on its effect on the sum of explicit and implicit public debt and on the post-reform payroll tax and private system contribution rates. However, the precise impact of reform also depends on such influences as the relationship between the rates of interest on implicit and explicit public debt. There may be circumstances in which pension privatization, if not offset by fiscal consolidation, will loosen the fiscal stance.


Book
Fiscal sustainability and the fiscal reaction function for South Africa
Authors: --- --- ---
ISBN: 145525729X 1455274445 1283558769 9786613871213 1455225053 Year: 2011 Publisher: Washington, D.C. : International Monetary Fund,

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How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space modelling and VECM). The paper finds that since 1946 the South African government has ran a sustainable fiscal policy, by reducing the primary deficit or increasing the surplus in response to rising debt. Looking ahead, the paper considers the use of fiscal reaction functions to forecast the debt/GDP ratio and gauging the likelihood of achieving policy goals with the aid of probabilistic simulations and fan charts.


Book
Highways to Heaven : Infrastructure Determinants and Trends in Latin America and the Caribbean
Authors: --- --- --- --- --- et al.
ISBN: 1475538014 1475536747 Year: 2016 Publisher: Washington, D.C. : International Monetary Fund,

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Inadequate infrastructure has been widely viewed as a principal barrier to growth and development in Latin America and the Caribbean. This paper provides a comprehensive overview of infrastructure in the region and highlights key areas in which infrastructure networks can be enhanced. The public and private sectors play complementary roles in improving the infrastructure network. Therefore, it is critical to strengthen public investment management processes as well as the regulatory framework, including to ensure an appropriate mix of financing and funding for projects and to address environmental concerns.

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