Achieving a soft landing : the role of fiscal policy /

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Bibliographic Details
Author / Creator:Leigh, Daniel, author.
Imprint:[Washington, D.C.?] : International Monetary Fund, ©2008.
Description:1 online resource (23 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/08/69
IMF working paper ; WP/08/69.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12496677
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Fiscal Affairs Department.
ISBN:1451913842
9781451913842
1462376991
9781462376995
1452751102
9781452751108
128284041X
9781282840416
9786612840418
6612840412
9781451869316
1451869312
Digital file characteristics:text file
Notes:Includes bibliographical references (pages 22-23).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper utilizes an open-economy New Keynesian overlapping generations model to assess the extent to which fiscal policy, along side an inflation-forecast-based monetary policy, could enhance macroeconomic stability in Colombia. The model simulations indicate that, in addition to stabilizing output and inflation, a stronger response of the fiscal balance to excess tax revenue would reduce the burden on the central bank of adjusting interest rates, lessen the associated degree of exchange rate volatility, and contribute to a more stable external current account balance. The analysis also assesses how the success of fiscal policy in enhancing macroeconomic stability depends on the type of shock, the response of monetary policy, and the length of fiscal policy implementation lags.
Other form:Print version: Leigh, Daniel. Achieving a soft landing. [Washington, D.C.?] : International Monetary Fund, ©2008
Standard no.:10.5089/9781451913842.001

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100 1 |a Leigh, Daniel,  |e author. 
245 1 0 |a Achieving a soft landing :  |b the role of fiscal policy /  |c Daniel Leigh. 
260 |a [Washington, D.C.?] :  |b International Monetary Fund,  |c ©2008. 
300 |a 1 online resource (23 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/08/69 
504 |a Includes bibliographical references (pages 22-23). 
520 3 |a This paper utilizes an open-economy New Keynesian overlapping generations model to assess the extent to which fiscal policy, along side an inflation-forecast-based monetary policy, could enhance macroeconomic stability in Colombia. The model simulations indicate that, in addition to stabilizing output and inflation, a stronger response of the fiscal balance to excess tax revenue would reduce the burden on the central bank of adjusting interest rates, lessen the associated degree of exchange rate volatility, and contribute to a more stable external current account balance. The analysis also assesses how the success of fiscal policy in enhancing macroeconomic stability depends on the type of shock, the response of monetary policy, and the length of fiscal policy implementation lags. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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588 0 |a Print version record. 
505 0 |a I. Introduction; II. Methodology; III. Results: Macroeconomic Effects of Fiscal Policy Tightening; Figures; 1. Domestic Risk Premium and the Debt-to-GDP Ratio; 2. Exogenous Permanent Cut in Public Consumption of 0.5 Percent of GDP; 3. Exogenous Permanent Cut in Public Investment of 0.5 Percent of GDP; IV. Results: Fiscal Policy and Macroeconomic Stability; 4. Private Savings Shock and Strength of Fiscal Policy Response; 5. Markup Shock and Strength of Fiscal Policy Response; 6. Efficiency Frontier: Markup Shock. 
505 8 |a 7. Efficiency Frontier for Different Monetary Policy Response Parameters8. Temporary Fall in Risk Premium by 100 Basis Points; 9. Risk Premium Shock and Strength of Fiscal Policy Response; V. Conclusions; References. 
546 |a English. 
650 0 |a Fiscal policy  |z Colombia  |x Econometric models. 
650 0 |a Monetary policy  |z Colombia  |x Econometric models. 
650 6 |a Politique fiscale  |z Colombie  |x Modèles économétriques. 
650 6 |a Politique monétaire  |z Colombie  |x Modèles économétriques. 
650 7 |a Fiscal policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst00925810 
650 7 |a Monetary policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst01025234 
651 7 |a Colombia.  |2 fast  |0 (OCoLC)fst01205916 
655 4 |a Electronic books. 
710 2 |a International Monetary Fund.  |b Fiscal Affairs Department. 
776 0 8 |i Print version:  |a Leigh, Daniel.  |t Achieving a soft landing.  |d [Washington, D.C.?] : International Monetary Fund, ©2008  |w (OCoLC)226233871 
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