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 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.
Publication date: March 2000
ISBN: 9781451847246
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Topics covered in this book

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Economics- Macroeconomics , Economics- Macroeconomics , Public Finance , Public Finance , WP , deficit , revenue , aggregate fiscal policy approach , fiscal policy objective

Summary