Fiscal Multipliers in Ukraine is popular PDF and ePub book, written by Ms.Pritha Mitra in 2015-03-27, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Fiscal Multipliers in Ukraine can be Read Online from any device for your convenience.
Fiscal Multipliers in Ukraine Book PDF Summary
Amid renewed crisis, falling tax revenues, and rising debt, Ukraine faces serious fiscal consolidation needs. Durable fiscal adjustment can support economic confidence and rebuild buffers but what is its overall impact on growth? How effective are revenue versus spending instruments? Does current or capital spending have a larger impact? Applying a structural vector autoregressive model, this paper finds that Ukraine’s near-term revenue and spending multipliers are well below one. In the medium-term, the revenue multiplier becomes insignificant (with a wide confidence interval) and the spending multiplier strengthens. Capital and current spending have a similar effect on growth but the capital multiplier remains significant for longer. These results suggest near-term consolidation based on a combination of revenue and spending measures would have a modest impact on growth. At the same time, medium-term policies could minimize the adverse consequences of consolidation on growth by offsetting some current spending cuts with increased capital spending. Given the severe challenges facing the Ukrainian economy, it is important that policymakers apply these results in conjunction with broader considerations such as public debt sustainability, investor confidence, credibility of government policies, and public spending efficiency. Consequently, it may be necessary to rely more on current spending cuts over other types of consolidation measures even though multiplier estimates suggest a more diverse combination of measures.
Detail Book of Fiscal Multipliers in Ukraine PDF
- Author : Ms.Pritha Mitra
- Release : 27 March 2015
- Publisher : International Monetary Fund
- ISBN : 9781484306161
- Genre : Business & Economics
- Total Page : 17 pages
- Language : English
- PDF File Size : 21,7 Mb
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