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Technical Notes and Manuals are produced by IMF departments to expand the dissemination of their technical assistance advice. These papers present general advice and guidance, drawn in part from unpublished technical assistance reports, to a broader audience. This new series was launched in August 2009.

Macroeconomics --- Public Finance --- Production and Operations Management --- Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General --- National Deficit Surplus --- National Budget, Deficit, and Debt: Other --- Fiscal Policy --- Macroeconomics: Production --- Price Level --- Inflation --- Deflation --- National Government Expenditures and Related Policies: General --- Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) --- Public finance & taxation --- Economic growth --- Fiscal stance --- Output gap --- Asset prices --- Expenditure --- Business cycles --- Fiscal policy --- Production --- Prices --- Economic theory --- Expenditures, Public --- Canada

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En este número de la serie de Notas Técnicas y Manuales se abordan los siguientes temas: 1. Se examinan los problemas que se derivan de la aplicación de mecanismos bancarios fragmentados para las operaciones del gobierno, y la forma de abordarlos mediante la creación de una cuenta única de tesorería (CUT). 2. Se explica el concepto de CUT y se describen sus características. 3. Se explican los problemas de diseño que deben tenerse en cuenta al establecer una CUT. 4. Se consideran los prerrequisitos y las cuestiones relacionadas con la secuencia e implementación de una CUT.

Accounting --- Banks and Banking --- Public Finance --- Taxation and Subsidies: Other --- National Government Expenditures and Related Policies: Other --- National Deficit Surplus --- Debt --- Debt Management --- Sovereign Debt --- Forecasts of Budgets, Deficits, and Debt --- National Budget, Deficit, and Debt: Other --- National Budget --- Budget Systems --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Public Administration --- Public Sector Accounting and Audits --- Public finance & taxation --- Banking --- Public finance accounting --- Treasury Single Account --- Fiscal accounting and reporting --- Government cash management --- Commercial banks --- Finance, Public --- Banks and banking --- Sweden

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Los principales temas tratados en esta Nota Técnica de Orientación (TNM) son los siguientes: • Se analizan la finalidad de un plan de cuentas y su importancia en la gestión financiera pública. • Se analizan las necesidades de los actores interesados en un marco típico de gestión financiera pública que deben reflejarse en un plan de cuentas • Se analiza la función del plan de cuentas en la contabilidad presupuestaria y financiera. • Se analiza la relación entre el plan de cuentas y los sistemas integrados de información sobre gestión financiera (SIIGF). • Se explican los pasos fundamentales para identificar los requerimientos de datos y estructuras para elaborar un plan de cuentas.

Financial instruments. --- Monetary policy. --- Accounting --- Budget classification --- Budget execution and treasury management --- Budget planning and preparation --- Budget Systems --- Budget --- Budgeting & financial management --- Budgeting --- Chart of accounts --- Finance, Public --- Fiscal accounting and reporting --- Governmental Property --- National Budget --- National Budget, Deficit, and Debt: General --- National Budget, Deficit, and Debt: Other --- Public Administration --- Public finance accounting --- Public Finance --- Public Sector Accounting and Audits --- Structure and Scope of Government: Other --- France

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The size of government is a commonly used variable in many analytical studies on the effects of fiscal policy. An accepted practice is to measure it as the ratio of government spending to GDP. However, this is not the correct metric when computing the stabilization effects of nondiscretionary fiscal policy. Intuitively, public spending does not react to cyclical conditions as much as taxes do - as reflected in the standard zero-one elasticity assumptions for spending and revenue, respectively. This paper shows that the revenue to GDP ratio is the appropriate indicator of government size for the purpose of assessing the stabilization effects of nondiscretionary fiscal policy.

Economic stabilization. --- Fiscal policy. --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Government policy --- Macroeconomics --- Public Finance --- Production and Operations Management --- Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General --- National Deficit Surplus --- National Budget, Deficit, and Debt: Other --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Personal Income, Wealth, and Their Distributions --- Macroeconomics: Production --- Public finance & taxation --- Automatic stabilizers --- Fiscal policy --- Expenditure --- Disposable income --- Output gap --- Expenditures, Public --- National income --- Production --- Economic theory

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Subnational governments can create sizable fiscal risks for central governments. In addition to impacting service delivery at the grassroots level, unsustainable subnational finances can be a continuous drain on central resources. The need for stronger public financial management systems and capacities to analyze and manage risks at the subnational government level cannot be overemphasized. Central governments need to develop sound institutional mechanisms to systematically monitor the health of subnational finances to be able to proactively manage associated risks. This How to Note provides a framework for central governments that seek to assess and manage fiscal risks stemming from weak subnational finances. It analyzes the sources of subnational finance vulnerabilities and argues that central governments would benefit from putting in place the following: (1) a stronger regulatory framework, (2) improved fiscal reporting, and (3) enhanced central oversight. The lessons distilled from the international experience are particularly useful for developing economies where the management of risks can be improved.

New Zealand --- Economics: General --- Macroeconomics --- Public Finance --- Budgeting --- Fiscal Policies and Behavior of Economic Agents: Other --- National Budget, Deficit, and Debt: Other --- State and Local Borrowing --- Governmental Loans, Loan Guarantees, Credits, and Grants --- Public Administration --- Public Sector Accounting and Audits --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- National Budget --- Budget Systems --- Economics of specific sectors --- Economic & financial crises & disasters --- Public finance & taxation --- Budgeting & financial management --- Economic sectors --- Financial crises --- Fiscal risks --- Public financial management (PFM) --- Public debt --- Budget planning and preparation --- Expenditure --- Informal sector --- Economics --- Currency crises --- Fiscal policy --- Debts, Public --- Finance, Public --- Budget --- Expenditures, Public