Limit search to available items
Book Cover
Author Miyazaki, Masato, author

Title In search of lost revenue : why restoring fiscal soundness after a crisis is harder that it looks / prepared Masato Miyazaki
Published [Washington, D.C.] : International Monetary Fund, [2010]
Online access available from:
IMF eLibrary    View Resource Record  


Description 1 online resource (21 pages) : color illustrations
Series IMF working paper ; WP/10/137
IMF working paper ; WP/10/137
Contents Cover Page; Title Page; Copyright Page; Contents; Executive Summary; I Introduction; II A Simple Model to Illustrate a Fiscal Exit; III A More Realistic Model That Envisages Long Sluggish Revenue Growth; IV Application to Some Examples; V Policy Implications; VI Conclusion; Appendix; References; Footnotes
Summary This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue growth, its adjustment has to rely more on revenue augmentation than commonly thought. Cutting extra spending in the wake of the crisis would not balance the book, while a natural growth of tax revenue after the recovery may take a long time before financing the pre-crisis level of expenditure. Faced with unpopular choices, the government may implicitly prefer seeing higher inflation
Bibliography Includes bibliographical references
Subject Budget deficits.
Financial crises.
Fiscal policy.
Form Electronic book
Author International Monetary Fund. Asia and Pacific Department, issuing body
ISBN 1282846124