Tannous Kass-Hanna's Books

Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia

By: Tannous Kass-Hanna,Julien Reynaud,Chris Walker

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Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia

By: Tannous Kass-Hanna,Julien Reynaud,Chris Walker

Empirical (employing the Blanchard-Perotti framework) and modeling (using a country-specific DSGE model) approaches are used to estimate fiscal multipliers by policy instrument for Bolivia, to evaluate possible adjustments in a fiscal consolidation strategy. Multipliers are also estimated using alternative assumptions about the accompanying exchange rate regime and capital mobility, highlighting the importance of the policy mix in determining the impact of fiscal adjustments. The study exploits the DSGE modeling structure to assess this interaction of fiscal and monetary policy in a lower middle-income country under different exchange rate regimes. It finds that expenditure multipliers fall into the range of 1/3 to 2/3, with public investment multipliers slightly higher than government consumption multipliers over longer horizons, and multipliers generally higher under a peg than inflation targeting. Tax multipliers are shown to be about half of expenditure multipliers.

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International Monetary Fund

Published Date

ISBN 13

9798400260285

State-Owned Enterprises in Middle East, North Africa, and Central Asia: Size, Costs, and Challenges

By: Mr. Ernesto Ramirez Rigo,Christine J. Richmond,Oluremi Akin Olugbade,Gareth Anderson,Maria Atamanchuk,Mr. Hatim Bukhari,Iacovos Ioannou,Deeksha Kale,Tannous Kass-Hanna,Mr. Maximilien Queyranne,Wei Shi,Joyce Wong

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State-Owned Enterprises in Middle East, North Africa, and Central Asia: Size, Costs, and Challenges

Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.

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153

Publisher

International Monetary Fund

Published Date

ISBN 10

1513594087

ISBN 13

9781513594088

Cross-Border Impacts of Climate Policy Packages in North America

By: Jean-Marc Fournier,Tannous Kass-Hanna,Liam Masterson,Anne-Charlotte Paret,Sneha D Thube

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Cross-Border Impacts of Climate Policy Packages in North America

By: Jean-Marc Fournier,Tannous Kass-Hanna,Liam Masterson,Anne-Charlotte Paret,Sneha D Thube

We quantify cross-border effects of the recent climate mitigation policies introduced in Canada and the U.S., using the global general equilibrium model IMF-ENV. Notably, with the substantial emission reductions from Canada’s carbon tax-led mitigation policies and the U.S.’ Inflation Reduction Act, these two countries would bridge two-thirds of the gap toward their Nationally Determined Contribution (NDC) goals. While the broadly divergent policies are believed to elicit competitiveness concerns, we find the aggregate cross-border effects within North America to be very limited and restricted to the energy intensive and trade exposed industries. Potential carbon leakages are also found to be negligible. A more meaningful difference triggered by policy heterogeneity is rather domestic, especially with U.S. subsidies increasing energy output while the Canada model with a carbon tax would marginally decrease it. This analysis is complemented by a stylized model illustrating how such divergence can affect the terms of trade, but also how these effects can be countered by exchange rate flexibility, border adjustments or domestic taxation.

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International Monetary Fund

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ISBN 13

9798400268960

Book's by Tannous Kass-Hanna

Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia

Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia

State-Owned Enterprises in Middle East, North Africa, and Central Asia: Size, Costs, and Challenges

State-Owned Enterprises in Middle East, North Africa, and Central Asia: Size, Costs, and Challenges

Cross-Border Impacts of Climate Policy Packages in North America

Cross-Border Impacts of Climate Policy Packages in North America

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