Michela Schena's Books

Governments and Promised Fiscal Consolidations

Do They Mean What They Say?

By: Mr.Sanjeev Gupta,João Tovar Jalles,Mr.Carlos Mulas-Granados,Michela Schena

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Governments and Promised Fiscal Consolidations

Do They Mean What They Say?

By: Mr.Sanjeev Gupta,João Tovar Jalles,Mr.Carlos Mulas-Granados,Michela Schena

This paper analyses the causes and consequences of fiscal consolidation promise gaps, defined as the distance between planned fiscal adjustments and actual consolidations. Using 74 consolidation episodes derived from the narrative approach in 17 advanced economies during 1978 – 2015, the paper shows that promise gaps were sizeable (about 0.3 percent of GDP per year, or 1.1 percent of GDP during an average fiscal adjustment episode). Both economic and political factors explain the gaps: for example, greater electoral proximity, stronger political cohesion and higher accountability were all associated with smaller promise gaps. Finally, governments which delivered on their fiscal consolidation plans were rewarded by financial markets and not penalized by voters.

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International Monetary Fund

Published Date

ISBN 10

1475584679

ISBN 13

9781475584677

Expenditure Conditionality in IMF-supported Programs

By: Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi

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Expenditure Conditionality in IMF-supported Programs

By: Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi

This paper studies the impact of expenditure conditionality in IMF programs on the composition of public spending. A granular dataset on different government expenditure conditions covering 115 countries for the 1992-2016 period is compiled. The results support the view that while conditionality on specific elements of spending could help achieve a program’s short-term objectives, it is structural conditionality which delivers lasting benefits. Structural public financial management conditionality (such as on budget execution and control) has proven to be effective in boosting the long-term level of education, health, and public investment expenditures. The results further indicate that conditionality on raising such spending may come at the expense of other expenditures. Finally, the successful implementation (and not mere existence) of the conditionality is crucial for improved outcomes. These findings are relevant for policy makers targeting achievement of the Sustainable Development Goals (SDGs).

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International Monetary Fund

Published Date

ISBN 10

148438931X

ISBN 13

9781484389317

Atlas of Genodermatoses

By: Gianluca Tadini,Michela Brena,Carlo Gelmetti,Lidia Pezzani

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Atlas of Genodermatoses

By: Gianluca Tadini,Michela Brena,Carlo Gelmetti,Lidia Pezzani

Diagnosing a genetic skin disease can sometimes be a difficult task for a dermatologist. This is especially true for genodermatoses-generally considered rare diseases seldom seen by practicing clinicians. As a result, professionals often have little experience with their diagnosis. The Atlas of Genodermatoses presents a unique collection of such ca

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Page Count

571

Publisher

CRC Press

Published Date

ISBN 10

1466598360

ISBN 13

9781466598362

Expenditure Conditionality in IMF-supported Programs

By: Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi

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Expenditure Conditionality in IMF-supported Programs

By: Mr.Sanjeev Gupta,Michela Schena,Mr.Reza Yousefi

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International Monetary Fund

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ISBN 10

148438931X

ISBN 13

9781484389317

Governments and Promised Fiscal Consolidations

Do They Mean What They Say?

By: Mr.Sanjeev Gupta,João Tovar Jalles,Mr.Carlos Mulas-Granados,Michela Schena

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Governments and Promised Fiscal Consolidations

Do They Mean What They Say?

By: Mr.Sanjeev Gupta,João Tovar Jalles,Mr.Carlos Mulas-Granados,Michela Schena

Average ratings

N/A

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Solve jigsaw puzzle

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Publisher

International Monetary Fund

Published Date

ISBN 10

1475584679

ISBN 13

9781475584677

Book's by Michela Schena

Governments and Promised Fiscal Consolidations

Governments and Promised Fiscal Consolidations

Expenditure Conditionality in IMF-supported Programs

Expenditure Conditionality in IMF-supported Programs

Atlas of Genodermatoses

Atlas of Genodermatoses

Expenditure Conditionality in IMF-supported Programs

Expenditure Conditionality in IMF-supported Programs

Governments and Promised Fiscal Consolidations

Governments and Promised Fiscal Consolidations

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