Fundamental Determinants of the Effects of Fiscal Policy /

Fundamental Determinants of the Effects of Fiscal Policy /

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Bibliographic Details
Author / Creator:	Kumar, Manmohan S.
Imprint:	Washington, D.C. : International Monetary Fund, 2006.
Description:	1 online resource (46 pages)
Language:	English
Series:	IMF Working Papers, 2227-8885 ; Working Paper No. 06/72 IMF Working Papers ; Working Paper no. 06/72.
Subject:	Fiscal policy -- Econometric models. Economic policy -- Econometric models. Economic policy -- Econometric models Fiscal policy -- Econometric models
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/14153799

Hidden Bibliographic Details
Other authors / contributors:	Botman, Dennis P. J. Kumar, Manmohan S. International Monetary Fund.
ISBN:	1451908687 9781451908688 9781451908688
Notes:	Available in PDF, ePUB, and Mobi formats on the Internet.
Summary:	We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings.
Standard no.:	10.5089/9781451908688.001

Table of Contents:

Contents
I. INTRODUCTION
II. KEY FEATURES OF THE GLOBAL FISCAL MODEL
III. CALIBRATING THE MODEL
IV. THE MACROECONOMIC EFFECTS OF GOVERNMENT DEBT
V. GOVERNMENT SPENDING SHOCKS AND PRIVATE CONSUMPTION
VI. TAX DISTORTIONS AND THE BENEFITS OF TAX REFORM
VII. THE EFFECTS OF PRIVATIZING RETIREMENT SAVING
VIII. CONCLUDING REMARKS
References