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Budget deficits --- Fiscal policy --- United States --- Economic conditions
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Hungary's government has made great progress toward revealing the true fiscal cost of its budgetary and off-budget programs, containing the financial risks of its policies, and improving the management of public expenditures and contingent liabilities. Although far from complete, fiscal adjustment in Hungary has been successful not only in cutting the budget deficit but also in reducing less visible aspects of fiscal vulnerability.
Budget deficits --- Expenditures, Public --- Finance, Public --- Fiscal policy --- Risk
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Budget deficits --- Fiscal policy --- United States --- Economic conditions
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Governments' contingent liabilities increase fiscal vulnerability, but are omitted in traditional measures of the current deficit. In the Czech Republic this omission may mean that fiscal adjustment has been overstated by 3 to 4 percent of annual GDP, with future budgets having to pay for past guarantees. The stock of existing contingent liabilities in Macedonia could add 2 to 4 percent of GDP to that country's future deficits.
Budget deficits --- Budget deficits --- Contingent liabilities (Accounting) --- Contingent liabilities (Accounting) --- Finance, Public --- Finance, Public --- Fiscal policy --- Fiscal policy
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The recent Asian currency crisis was caused by large prospective fiscal deficits associated with implicit bailout guarantees to failing banking systems. Absent the political will to raise taxes or cut spending, governments must resort to seignorage revenues to pay for the bailout of the banking system. In a world of forward-looking agents, this makes a currency crisis inevitable.
Banks and banking --- Budget deficits --- Financial crises --- Econometric models. --- Econometric models. --- Econometric models.
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Budget --- Budget deficits --- Economic forecasting --- Government spending policy --- Forecasting --- United States --- United States. --- Economic conditions
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Budget --- Budget --- Budget deficits --- Economic forecasting --- Government spending policy --- Budget. --- Budget deficits. --- Budget --- Economic forecasting. --- Economic history --- Government spending policy. --- Forecasting --- Forecasting. --- Forecasting. --- United States --- United States. --- Economic conditions --- Forecasting
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Budget --- Budget --- Budget deficits --- Economic forecasting --- Government spending policy --- Budget. --- Budget deficits. --- Budget --- Economic forecasting. --- Economic history --- Government spending policy. --- Forecasting --- Forecasting. --- Forecasting. --- United States --- United States. --- Economic conditions --- Forecasting
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Budget --- Budget --- Budget deficits --- Economic forecasting --- Government spending policy --- Forecasting --- United States --- United States. --- Economic conditions --- Forecasting
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