Commodity Price Shocks And The Odds On Fiscal Performance
Download and Read Commodity Price Shocks And The Odds On Fiscal Performance full books in PDF, ePUB, and Kindle. Read online free Commodity Price Shocks And The Odds On Fiscal Performance ebook anywhere anytime directly on your device. We cannot guarantee that every ebooks is available!
Commodity Price Shocks and the Odds on Fiscal Performance
Author | : Francis Y. Kumah |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 35 |
Release | : 2005-09-01 |
Genre | : |
ISBN | : 9781451861907 |
Download Commodity Price Shocks and the Odds on Fiscal Performance Book in PDF, Epub and Kindle
Unanticipated changes in commodity prices can generate significant movements in fiscal aggregates. This paper seeks to understand the dynamics of these fiscal movements in the context of transitory commodity price shocks using sample data from four CIS countries- two oil-producing and two non-oil commodity-intensive countries. It adopts a structural VAR approach and identifies the dynamic effects of commodity price shocks on fiscal performance under two broad tax regimes. Stochastic simulations indicate high probabilities of fiscal overperformance in the short term when commodity prices are high. These probabilities deteriorate significantly, however, in the long term after the transitory positive commodity price shock has dissipated, particularly when lax fiscal policy is adopted during the period of the price boom.
Commodity Price Shocks and the Odds on Fiscal Performance Related Books
Pages: 35
Pages: 34
Pages: 48
Pages: 30
Pages: 43