Working Papers


  • 15-November-2010

    English

    Turkey's improving integration with the global capital market: Impacts on risk premia and capital costs

    Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs.

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  • 1-November-2010

    English

    Phasing out energy subsidies in Indonesia

    The oil price hike in 2007-08 underlined the vulnerability of Indonesia’s energy subsidy policy to oil price volatility. In addition to entailing significant economic and environmental costs, energy subsidies put pressure on the public budget and benefit mostly rich households.

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  • 25-October-2010

    English

    United States: Restoring fiscal sustainability

    The United States faces challenging budgetary prospects, as do most other OECD countries. The federal budget deficit widened considerably during the recession, reaching about 10% of GDP in both 2009 and 2010, reflecting the operation of automatic stabilizers and the policy response to the crisis

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  • 30-September-2010

    English

    Public-private partnerships and investment in infrastructure

    How can governments reap the potential benefits of public-private partnerships (PPPs) in the provision of infrastructure?

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  • 14-September-2010

    English

    Sustaining the Momentum of Fiscal Reform in Hungary

    Hungary has faced a considerable challenge to regain credibility following persistent and high fiscal deficits. Efforts during recent years have produced substantial results. These and other points are discussed in this working paper.

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  • 13-September-2010

    English

    A Simulation Model of Federal, Provincial and Territorial Government Accounts for the Analysis of Fiscal-Consolidation Strategies in Canada

    This paper presents a simulation model of the main budget aggregates of federal, provincial and territorial governments in Canada. It also contains an analysis of the cyclicality of Canadian governments’ fiscal policies between 1984 and 2007.

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  • 1-September-2010

    English

    The Consequences of Banking Crises for Public Debt

    The aim of this paper is to assess the consequences of banking crises for public debt. Using an unbalanced panel of 154 countries from 1980 to 2006, the paper shows that banking crises are associated with a significant and long-lasting increase in government debt.

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  • 30-July-2010

    English

    Korea: Health-care reform

    Korea’s health-care system has contributed to the marked improvement in health conditions, while limiting spending to one of the lowest levels in the OECD through high patient co-payments and limited coverage of public health insurance.

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  • 27-July-2010

    English

    Is there a case for carbon-based border tax adjustment? An applied general equilibrium analysis

    Concern that unilateral greenhouse gas emission reductions could foster carbon leakage and undermine the international competitiveness of domestic industry has led to growing calls for carbon-based border-tax adjustments (BTAs).

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  • 27-July-2010

    English

    Are global imbalances sustainable? Post-crisis scenarios

    This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends.

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