Deflation and Public Finances

Released on by Mr.Nicolas End
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  • Deflation and Public Finances Book Detail

  • Author : Mr.Nicolas End
  • Release Date : 2015-07-28
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 41
  • ISBN 13 : 1513539698
  • File Size : 45,45 MB
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Deflation and Public Finances by Mr.Nicolas End PDF Summary

Book Description: This paper examines the impact of deflation on fiscal aggregates. With deflation relatively rare in modern history, it relies mostly on the historical records, using a dataset panel covering 150 years and 21 advanced economies. Empirical evidence shows that deflation affects public finances mostly through increases in public debt ratios, reflecting a worsening in interest rate–growth differentials. On average, a mild rate of deflation increases public debt ratios by almost 2 percent of GDP a year, this impact being larger during recessionary deflations. Using a simulation model that accounts for composition effects and price expectations, we also find that, for European countries, a 2 percentage point deflationary shock in both 2015 and 2016 would lead to a deterioration in the primary balance of as much as 1 percent of GDP by 2019.

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Deflation and Public Finances

Deflation and Public Finances

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This paper examines the impact of deflation on fiscal aggregates. With deflation relatively rare in modern history, it relies mostly on the historical records,

Deflation

Deflation

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Deflation is one of the most feared terms in economics. It immediately conjures visions of abandoned farms and idle factories, streams of unemployed workers sta

Deflation and Public Finances

Deflation and Public Finances

File Size : 70,70 MB
Total View : 4301 Views
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This paper examines the impact of deflation on fiscal aggregates. With deflation relatively rare in modern history, it relies mostly on the historical records,