A Framework for Assessing Fiscal Vulnerability

March 1, 2000

Preview Citation

Format: Chicago

Murray Petrie, and Richard Hemming. A Framework for Assessing Fiscal Vulnerability, (USA: International Monetary Fund, 2000) accessed December 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Fiscal vulnerability describes a situation where a government is exposed to the possibility of failure to meet its aggregate fiscal policy objectives. The suggested framework for assessing vulnerability highlights four macro-fiscal aspects of vulnerability: incorrect specification of the initial fiscal position; sensitivity of short-term fiscal outcomes to risk; threats to longer-term fiscal sustainability; and structural or institutional weaknesses affecting the design and implementation of fiscal policy. Fiscal vulnerability indicators are suggested.

Subject: Expenditure, Fiscal policy, Fiscal risks, Fiscal stance, Public financial management (PFM)

Keywords: Aggregate fiscal policy approach, Deficit, Fiscal policy objective, Revenue, WP

Publication Details

Pages:

21
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2000/052
Stock No:

WPIEA0522000
ISBN:

9781451847246
ISSN:

1018-5941

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