IMF Fiscal Monitor -- Debt: Use it Wisely -- October 2016
Fiscal Monitor, October 5, 2016
Source details
- Canonical URL
- IMF Fiscal Monitor -- Debt: Use it Wisely -- October 2016
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Bibliographic details
- Published: October 5, 2016
- Series: Fiscal Monitor
Overview
- Publication: International Monetary Fund, Fiscal Monitor, October 2016
- Chapter focus: "Debt: Use it Wisely"
- Scope: "Drawing on an expanded data set covering emerging markets and low-income countries as well as advanced economies, this chapter examines the extent and makeup of global debt and asks what role fiscal policy can play in facilitating the adjustment."
- Analytical approach: "The analytical framework explicitly models the interlinkages between private and public debt in analyzing the role of fiscal policy in the deleveraging process."
- Empirical material: "Country case studies provide useful insights on what fiscal policy should and should not do to facilitate deleveraging while minimizing the drag on the economy."
Contents and structure (chapter-level)
- Front Matter
- Assumptions and Conventions
- Preface
- Executive Summary
- Chapter 1: Debt: Use it Wisely
- Full Text
- Introduction
- How High Is Debt?
- Why Does the Level of Debt Matter?
- Fiscal Policy and Private Sector Deleveraging
- Deleveraging in Practice: What Does History Teach Us?
- Conclusion
- Boxes
- 1.1 China: What Do We Know about the General Government’s Balance Sheet?
- 1.2 The Role of Fiscal Policy during Financial Recessions
- 1.3 Brazil: Private Debt and the Strength of the Public Sector Balance Sheet
- 1.4 Benefits of Targeted Fiscal Intervention during Times of Private Deleveraging
- 1.5 How Much Do Financial Markets Value Government Balance Sheets?
- Annex
- Debt Data Set
- Private and Public Debt and the Pace of the Recovery
- Interlinkages between Public and Private Debt: Selected Summary of the Literature
- Private Deleveraging and the Role of Fiscal Policy
- Policies during Deleveraging Episodes
- References
- Methodological and Statistical Appendix
- Data and Conventions
- Fiscal Policy Assumptions
- Definition and Coverage of Fiscal Data
- Table A. Economy Groupings
- Table B. Advanced Economies: Definition and Coverage of Fiscal Monitor Data
- Table C. Emerging Market and Middle-Income Economies: Definition and Coverage of Fiscal Monitor Data
- Table D. Low-Income Developing Countries: Definition and Coverage of Fiscal Monitor Data
- Statistical of Tables
- Country Abbreviations and Glossary
Key empirical materials and indicators (as listed)
- Figures and thematic listings include:
- Global Gross Debt
- Gross Debt by Country Groups
- Sectoral Changes in Debt
- Advanced Economies: Debt Developments
- Emerging Market Economies: Debt Developments
- Low-Income Countries: Debt Developments
- Debt Decomposition
- Selected Advanced Economies: Current Deleveraging Episodes
- Total Private Debt during Deleveraging Episodes
- Selected Advanced Economies: Leverage
- Public Debt in Normal and Financial Recessions
- Europe: Estimated Capital Impact of Immediate Nonperforming Loan Disposal, Density Function
- Contribution to Deleveraging
- Macroeconomic Policies and Deleveraging
- China and Other Emerging Market Economies: Estimates of Net Financial Worth at the End of 2015
- Fiscal Policy and the Nature of the Recovery after Financial Crises
- Change in Debt, 2005–15: Brazil versus Other Emerging Market Economies
- Impact of Targeted Interventions in a Deleveraging Phase
- Difference between Market-Implied and Accounting-Valued Net Worth, 2014
- Median Evolution of Market-Implied Net Worth, 2012–15
- Change in Market-Implied Expected Losses on Sovereign Debt, 2012–15
- Annex Figure 1.1.1. Nonfinancial Private Sector Debt: Country Coverage
- Tables and annexes include:
- Private Sector Deleveraging Episodes: Basic Facts
- Selected Fiscal Policy Interventions during Deleveraging Episodes
- Costs of Selected Fiscal Policy Interventions
- Brazil: Public Sector Balance Sheet, 2014
- Annex Table 1.2.1 Advanced Economies: Local Projection Results from Equation (A1.2.1)
- Annex Table 1.2.2 Emerging Market Economies: Local Projection Results from Equation (A1.2.1)
- Annex Table 1.5.1 Private Sector Deleveraging Case Studies: Macroeconomic Conditions
- Annex Table 1.5.2 Costs of Selected U.S. Fiscal Interventions
- Comprehensive country and time-series tables A1–A25 covering 2007–21 and other groupings
Analytical conclusions and policy implications (as stated)
- Fiscal policy can play a role in facilitating the adjustment during deleveraging by accounting for interlinkages between private and public debt.
- Country case studies provide "useful insights on what fiscal policy should and should not do to facilitate deleveraging while minimizing the drag on the economy."
- The report explicitly examines "the role of fiscal policy during financial recessions" and the "Benefits of Targeted Fiscal Intervention during Times of Private Deleveraging."
IMF Fiscal Monitor: Debt: Use it Wisely, October 2016
Content in this bundle
- ملخص واف: الرا صد المالي 2016
- “大反派”：债务问题纵览, 作者：Vitor Gaspar和Marialuz Moreno Badia, iMFdirect, 2016年10月5日
- IMF2016年10月财政监测报告概要
- Moniteur des finances publiques -- Résumé analytique-- Le 5 Octobre 2016
- 巨悪に立ち向かう：債務の世界的な情勢; ヴィトル・ガスパル、マリアルス・モレノ・バディア, iMFdirect; 2015年10月5日
- 財政モニター 2016年10月: 要約
- Debt: Use it Wisely, Fiscal Monitor, October 2016
- Debt: Use it Wisely, Fiscal Monitor, October 2016
- Assumptions and Conventions, Fiscal Monitor, October 2016
- IMF Executive Board Discussion Summary, Fiscal Monitor, October 2016
- Chapter 1. Debt: Use it Wisely, Fiscal Monitor, October 2016
- Country Abbreviations, Fiscal Monitor, October 2016
- Executive Summary, Fiscal Monitor, October 2016
- Executive Summary, Fiscal Monitor, October 2016
- Glossary, Fiscal Monitor, October 2016
- Preface, Fiscal Monitor, October 2016
- Fiscal Monitor, Selected Topics, Fiscal Monitor, October 2016
- Methodological and Statistical Appendix, Fiscal Monitor, October 2016
- Крупные негативные факторы: глобальный взгляд на долг
- Аналитическое резюме - Бюджетный вестник, октябрь 2016 года
- Monitor Fiscal: Resumen Ejecutivo - Octubre de 2016
References
- Opening Remarks by Vitor Gaspar during the Press Conference, October 5, 2016
- News Article: Low Growth, Inflation Hamper Debt Reduction
- Blog: Big Bad Actors: A Global View of Debt
- Transcript of the Press Conference on the Release of the October 2016 Fiscal Monitor
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- Fiscal Monitor Database
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