Improving Surveillance Across the Cemac Region [electronic resource] Iossifov, Plamen.

Iossifov, Plamen.
Washington, D.C. : International Monetary Fund, 2009.
IMF eLibrary
IMF Working Papers; Working Paper No. 09/260.
IMF Working Papers; Working Paper No. 09/260
Government document
1 online resource (57 p.)
Local subjects:
Account deficits.
Aggregate demand.
Agricultural commodities.
Balance of payments.
Budget balance.
Budget balances.
Budget constraint.
Budget deficit.
Budget deficits.
Budgetary changes.
Central African Economic and Monetary Community.
Commodity exporters.
Commodity prices.
Common market.
Current account balance.
Cyclical fiscal policies.
Debt service.
Discretionary fiscal policy.
Domestic banks.
Domestic demand.
Domestic economy.
Domestic prices.
Domestic shocks.
Domestic suppliers.
Dynamic effects.
Dynamic impact.
Economic integration.
Excessive deficits.
Exchange rate fluctuations.
Exchange rate policies.
Exchange rate regime.
Exchange rate regimes.
Expansionary fiscal.
Expansionary fiscal policies.
Expansionary fiscal policy.
External financing.
External position.
External shocks.
External trade.
Factor markets.
Fiscal adjustments.
Fiscal arrangements.
Fiscal authorities.
Fiscal balance.
Fiscal balance in percent.
Fiscal budgets.
Fiscal convergence.
Fiscal convergence criteria.
Fiscal convergence criterion.
Fiscal criteria.
Fiscal criterion.
Fiscal deficit.
Fiscal deficits.
Fiscal developments.
Fiscal discipline.
Fiscal expenditure.
Fiscal impact.
Fiscal impulse.
Fiscal impulses.
Fiscal indicators.
Fiscal measures.
Fiscal performance.
Fiscal policies.
Fiscal policy.
Fiscal policy formulation.
Fiscal policy framework.
Fiscal policy objectives.
Fiscal policy response.
Fiscal policy responses.
Fiscal position.
Fiscal positions.
Fiscal revenue.
Fiscal revenues.
Fiscal rule.
Fiscal rules.
Fiscal shocks.
Fiscal spending.
Fiscal stance.
Fiscal stances.
Fiscal stimulus.
Fiscal surplus.
Fiscal surpluses.
Fiscal sustainability.
Fiscal tightening.
Fiscal variables.
Fiscal vulnerability.
Foreign borrowing.
Government budget.
Government budget balance.
Government budget constraint.
Government expenditure.
Government revenue.
Government spending.
Idiosyncratic shocks.
Long-term fiscal sustainability.
Member country.
Monetary union.
Monetary unions.
Multilateral surveillance.
Negative spillovers.
Nominal interest rate.
Nonoil sector.
Oil exporters.
Oil prices.
Oil revenues.
Oil-producing countries.
Optimum currency areas.
Output volatility.
Per capita income.
Political economy.
Political integration.
Primary deficit.
Primary expenditure.
Primary fiscal balance.
Primary fiscal deficit.
Primary fiscal deficits.
Public debt.
Public expenditure.
Public spending.
Ratio of government expenditure.
Regional integration.
Structural fiscal.
Tax cuts.
Tax increase.
Tax increases.
Tax rates.
Tax revenue.
Terms of trade.
Terms of trade shocks.
Terms-of-trade shocks.
Trade flows.
Trade sector.
Trade shocks.
Trading partner.
World economy.
World markets.
World prices.
Congo, Democratic Republic of the.
Equatorial Guinea.
In this paper, we consider the design of the surveillance, and, in particular, the fiscal criteria in the Central African Economic and Monetary Community (CEMAC) with the view to ensuring they are consistent with internal and external sustainability. This consistency is important within a monetary union because fiscal policy is the primary instrument through which national governments can influence macroeconomic performance. We comment on how surveillance might be improved by broadening the region''s current criteria through alternative fiscal indicators, some focus on the scope and nature of external shocks, and attention to the consistency of policies in assuring the viability of the union and its fixed exchange rate regime.
Description based on print version record.
Iossifov, Plamen.
Kinoshita, Noriaki.
Takebe, Misa.
York, Robert C.
Zhan, Zaijin.
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