How Long to Read Assessing the Impact and Phasing of Multi-year Fiscal Adjustment

How Long Does it Take to Read Assessing the Impact and Phasing of Multi-year Fiscal Adjustment?

It takes the average reader and 31 minutes to read Assessing the Impact and Phasing of Multi-year Fiscal Adjustment by Ran Bi

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper provides a general framework to assess the output and debt dynamics of an economy undertaking multi-year fiscal adjustment. The framework allows country-specific assumptions about the magnitude and persistence of fiscal multipliers, hysteresis effects, and endogenous financing costs. In addition to informing macro projections, the framework can also shed light on the appropriate phasing of fiscal consolidation—in particular, on whether it should be front- or back-loaded. The framework is applied to stylized advanced and emerging economy examples. It suggests that for a highly-indebted economy undertaking large multi-year fiscal consolidation, high multipliers do not always argue against frontloaded adjustment. The case for more gradual or back-loaded adjustment is strongest when hysteresis effects are in play, but it needs to be balanced against implications for debt sustainability. Application to actual country examples tends to cast doubt on claims that very large multipliers have been operating post-crisis. It seems that the GDP forecast errors for Greece may have been due more to over-optimism on potential growth estimates than to underestimating fiscal multipliers.

How long is Assessing the Impact and Phasing of Multi-year Fiscal Adjustment?

Assessing the Impact and Phasing of Multi-year Fiscal Adjustment by Ran Bi is 31 pages long, and a total of 7,781 words.

This makes it 10% the length of the average book. It also has 10% more words than the average book.

How Long Does it Take to Read Assessing the Impact and Phasing of Multi-year Fiscal Adjustment Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 42 minutes to read Assessing the Impact and Phasing of Multi-year Fiscal Adjustment aloud.

What Reading Level is Assessing the Impact and Phasing of Multi-year Fiscal Adjustment?

Assessing the Impact and Phasing of Multi-year Fiscal Adjustment is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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