| Description |
1 online resource (23 pages) : color illustrations |
| Series |
IMF working paper ; WP/10/57 |
|
IMF working paper ; WP/10/57.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Background; II. Irish Experience; 1. Tax Revenue Breakdown, 1995-2007; A. Issues in Estimating the Irish Structural Balance; 2. Comparison of Tax and Nominal GDP Growth Rates, 2003-08; III. The Model; A. Model with Stationary Data; B. Model with Nonstationary Data; IV. Estimation Results; 1. Ng Perron Unit Root Tests; 3. Revenue Determinants, 1987-2008; 2. Regression Estimates; V. Calculating Structural Revenues; 4. Revenue Determinants and HP Filtered Trends, 1987-2014; 5. Actual and Structural Revenues, 1988-2008 |
|
VI. Structural Expenditures and Structural Balance3. Structural Fiscal Position; VII. Concluding Remarks; Bibliography; Footnotes |
| Summary |
Asset booms and sectoral changes can distort traditional estimates of structural fiscal revenue, and could lead to serious fiscal policy errors. This paper extends the estimation of structural revenues to take account of asset prices and sectoral changes, and applies this to the case of Ireland, where a property bust has revealed a large hole in the public finances. It is shown that excluding these factors led to a substantial bias in the estimation of structural revenues, and the structural balance prior to the crisis was much larger than earlier estimated |
| Bibliography |
Includes bibliographical references |
| Notes |
English |
| Subject |
Fiscal policy -- Ireland
|
|
Economic stabilization -- Ireland
|
|
Economic history
|
|
Economic policy
|
|
Economic stabilization
|
|
Fiscal policy
|
| SUBJECT |
Ireland -- Economic conditions -- 21st century
|
|
Ireland -- Economic policy
|
| Subject |
Ireland
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. European Department, issuing body.
|
| ISBN |
9781452783345 |
|
1452783349 |
|
9781451963687 |
|
1451963688 |
|
1451997086 |
|
9781451997088 |
|
