Ce que je ne savais pas c’est l’endroit où son esprit était parti divaguer le temps que ma femme et moi préparions le repas de midi… :Un premier Mai, sous terre, à Berlin, le médecin est entré précédé de Madga, les six enfants dormaient encore, il était six heures quarante trois… la veille on leur avait fait boire trois cuillers de sirop sédatif et aucun d’eux ne s’était réveillé de toute la nuit. Leur mère pensa qu’il y avait longtemps que les plus jeunes n’avaient pas aussi bien ...

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews r...

Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. This note provides general guidance on the definition, measurement, and use of fiscal multipliers. It reviews the literature related to their size, persistence and determinants. For countries where no reliable estimate is available, the note proposes a simple method to come up ...

Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of an automatic fuel pricing mechanism can help to address this problem, and the incorporation of a price smoothing mechanism can ensure pass-through over the medium term but also avoid sharp increases (and decreases) in domestic prices. This technical note addresses the following ...