Fiscal Policy and the Macroeconomy Workshop

Fiscal Policy and the Macroeconomy
May 13, 2016


In the aftermath of the global financial crisis, fiscal policy has taken a front seat in policy discussions around the world. How effective is a fiscal expansion in stimulating output in times of distress? What factors determine the size of fiscal multipliers? As fiscal budgets have become overstretched, the need to build fiscal space through fiscal consolidation and strengthen fiscal institutions to allow countries to save in good times have also turned into critical public
policy issues. At this workshop practioners discussed what we have learned about these and related questions and identified future fiscal
challenges across the world economy. 

"Do Fiscal Multipliers Depend on the Fiscal Position?"
Raju Huidrom (WBG) and Ayhan Kose (WBG)

"Fiscal Policy and Inequality" 
Benedict J. Clements (IMF)

"Pitfalls in Identification and
Measurement of Tax Policy" 

Carlos Vegh (SAIS) and Guillermo Vuletin (IDB)

"Fiscal Pro-cyclicality and Over-optimism
in Official Forecasts"

Jeffrey Frankel (Harvard Kennedy School)

"Fiscal Policy Challenges in the Global Economy"
Celine Allard (IMF), Roberto Guimaraes-
Filho (IMF)
, Paolo Mauro (PIIE),
and Andrew Powell (IDB)