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Public Finances Today: Lessons Learned and Challenges Ahead

Salvador Barrios (), Serena Fatica (), Diego Martínez (), Gilles Mourre (), Ferhan Salman (), Elva Bova (), Christina Kolerus (), Jules S. Tapsoba (), Gilles Mourre (), Nikola Altiparmakov (), Lukas Reiss (), Mariano Bosch (), Angel Melguizo (), Carmen Pages-Serra (), Renee Philip (), Boris Courn� de (), Antoine Goujard (), Álvaro Pina, Wolfgang Merz (), Martin Larch (), Kristin Magnusson Bernard (), Balint Tatar (), Nicola Giammarioli (), Cristina Checherita-Westphal (), Alexander Klemm, Paul Viefers (), Pedro Hinojo (), Giovanni Ricco (), Giovanni Callegari (), Jacopo Cimadomo (), Enrico D�Elia (), Filippo Maria Pericoli (), Reda Cherif, Fuad Hasanov, Ernesto Rezk (), Diego Mart�nez L�pez (), Anna Kalbhenn (), Livio Stracca (), Luiz de Mello (), George Hondroyiannis (), Dimitrios Papaoikonomou (), Jan Babeck� (), Richard Morris (), Pietro Rizza (), Vladimir Borgy (), Kirstine Eibye Brandt (), Manuel Pereira (), Anna Jablecka (), Javier J. P�rez (), Lukas Reiss (), Morten Rasmussen (), Karim Triki (), Lara Wemens (), David Heald (), Ludov�t Ï¿½dor (), Tomasz Jedrzejowicz (), Marcin Kitala (), Xavier Debrun (), Tidiane Kinda (), Geert Langenus (), Fabrizio Balassone (), Sandro Momigliano, Marzia Romanelli, Pietro Tommasino (), Teresa Ter-Minassian (), Marco Buti (), Daniele Franco () and Karsten Wendorff ()
Additional contact information
Gilles Mourre: European Commission
Ferhan Salman: International Monetary Fund
Elva Bova: International Monetary Fund
Christina Kolerus: International Monetary Fund
Jules S. Tapsoba: International Monetary Fund
Gilles Mourre: European Commission
Nikola Altiparmakov: Fiscal Council - Republic of Serbia
Lukas Reiss: Oesterreische Nationalbank
Mariano Bosch: Inter-American Development Bank
Carmen Pages-Serra: Inter-American Development Bank
Renee Philip: New Zealand Treasury
Boris Courn� de: OECD
Wolfgang Merz: Federal Ministry of Finance � Berlin
Kristin Magnusson Bernard: European Commission
Balint Tatar: European Commission
Nicola Giammarioli: European Stability Mechanism
Cristina Checherita-Westphal: European Central Bank
Paul Viefers: Deutsches Institut f�r Wirtschaftsforschung - Berlin
Pedro Hinojo: Ministry of Economy and Competitiveness, Spain
Enrico D�Elia: Ministero dell'Economia e delle Finanze
Ernesto Rezk: National University of C�rdoba, Argentina
Diego Mart�nez L�pez: Universidad Pablo de Olavide, Sevilla
Anna Kalbhenn: European Central Bank
Livio Stracca: European Central Bank
Luiz de Mello: OECD
Jan Babeck�: Czech National Bank
Richard Morris: ECB
Vladimir Borgy: Banque de France
Kirstine Eibye Brandt: Danmarks Nationalbank
Anna Jablecka: Narodowy Bank Polski
Javier J. P�rez: Banco de Espa�a
Lukas Reiss: Oesterrichische Nationalbank
Morten Rasmussen: Danmarks Nationalbank
Karim Triki: Banque de France
Lara Wemens: Banco de Portugal
David Heald: University of Aberdeen
Ludov�t Ï¿½dor: Council for Budget Responsibility, Bratislava
Tomasz Jedrzejowicz: Narodowy Bank Polski
Marcin Kitala: Narodowy Bank Polski
Geert Langenus: National Bank of Belgium
Pietro Tommasino: Banca d'Italia
Teresa Ter-Minassian: Inter-American Development Bank
Marco Buti: European Commission
Karsten Wendorff: Deutsche Bundesbank

Authors registered in the RePEc Author Service: Ludovit Odor (), Javier J. Pérez (), Daniel Franco, Boris Cournède (), Gilles MOURRE (), Jan Babecký and Enrico D'Elia ()

No 19, Workshop and Conferences from Bank of Italy, Economic Research and International Relations Area

Abstract: The volume collects the essays presented at the 16th Workshop on Public Finance organised by Banca d�Italia in Perugia from 3 to 5 April 2014. The workshop had two main objectives: (i) examining the changes that public policies should undertake in the coming years to adapt to the challenging new environment; (ii) assessing policy responses to the crisis. In many countries the recent crisis accelerated pre-existing trends and made even more urgent a rethinking of the tax and welfare systems. The workshop contributed to this reassessment offering insights on the consequences of specific reforms carried out in Europe and elsewhere. The reaction to the euro-area sovereign debt crisis included fiscal adjustments as well as institutional reforms. In the workshop, theoretical and empirical works examined timing, effectiveness and composition of the fiscal consolidations carried out, as well as the recent reform of EU governance. The first session focused on the effects of both tax and expenditure policies on tax rates, work related tax expenditures, labor markets, the overall economy and pension reforms. Budgetary adjustments were at the core of the second session. Factors conducive to a successful exit from IMF official assistance, impact of government�s payment delays, propagation of government spending shocks, debt dynamics, the effects on public opinion of fiscal policy and fiscal multipliers were all given space and attention. The third session concentrated on recent changes in fiscal rules, fiscal councils and the possible establishment of an euro-area fiscal union. The panel discussion focused on the progress made and the characteristics of existing fiscal rules.

Keywords: arrears; accounts payable; caribbean; expenditure; fiscal policy; fiscal adjustment; financial crises; fiscal measures; fiscal policy uncertainty; fiscal reaction function; fiscal rules; fiscal transmission mechanism; government spending shock; imf lending; impact of public finance; informality; labor market; latin america; macroeconomic; national saving; public debt; public payment delays; impulse responses; payg vs. funded rates of return; pension privatization; pensions; revenue; var; unemployment gaps (search for similar items in EconPapers)
JEL-codes: C32 E6 E31 E60 E61 E62 D80 F33 G01 H6 H8 H60 H61 H62 H55 H63 H81 J08 (search for similar items in EconPapers)
Date: 2015-03
New Economics Papers: this item is included in nep-mac and nep-pbe
References: View references in EconPapers View complete reference list from CitEc
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:workpa:sec_19

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