A Framework for Assessing Fiscal Vulnerability

Murray Petrie () and Richard Hemming

No 2000/052, IMF Working Papers from International Monetary Fund

Abstract: Fiscal vulnerability describes a situation where a government is exposed to the possibility of failure to meet its aggregate fiscal policy objectives. The suggested framework for assessing vulnerability highlights four macro-fiscal aspects of vulnerability: incorrect specification of the initial fiscal position; sensitivity of short-term fiscal outcomes to risk; threats to longer-term fiscal sustainability; and structural or institutional weaknesses affecting the design and implementation of fiscal policy. Fiscal vulnerability indicators are suggested.

Keywords: WP; deficit; revenue; aggregate fiscal policy approach; fiscal policy objective (search for similar items in EconPapers)
Pages: 21
Date: 2000-03-01
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Citations: View citations in EconPapers (22)

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