A Framework for Assessing Fiscal Vulnerability

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 fis...

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Main Author: Petrie, Murray
Other Authors: Hemming, Richard
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2000, 2000
Series:IMF Working Papers; Working Paper
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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520 |a 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