To starve or not to starve the beast? /
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Author / Creator: | Kumhof, Michael, author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2010. |
Description: | 1 online resource (36 pages) : color illustrations |
Language: | English |
Series: | IMF working paper ; WP/10/199 IMF working paper ; WP/10/199. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12498672 |
Table of Contents:
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The Model; A. Households; B. Firms; 1. Manufacturers; 2. Distributors; 3. Retailers; C. Government; 1. Fiscal Policy; 2. Starving-the-Beast; 3. Monetary Policy; III. Calibration; IV. Welfare; A. Benchmark Welfare: No Government Spending in Utility; B. Alternative Welfare: With Government Spending in Utility; V. Results; 1. Base Case; 2. Slower Expenditure Adjustment; 3. Government Investment Cut; 4. Capital Income Tax Cut; 5. Longer Planning Horizons; 6. Inelastic Labor Supply; 7. Undoing the Tax Cut.
- 1. Macroeconomic Effects (in percent deviation from initial steady state)2. Benchmark Welfare
- No Government Spending in Utility Function; 3. Alternative Welfare
- With Government Spending in Utility Function; A. Baseline Experiment; B. Sensitivity Analysis; 1. Slower Expenditure Adjustment; 2. Government Investment Cut; 3. Capital Income Tax Cut; 4. Longer Planning Horizons; 5. Inelastic Labor Supply; 6. Undoing the Tax Cut; C. The Relationship between Welfare and Discount Rates; VI. Conclusions; References; Footnotes.