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Record Nr. |
UNINA9910788348103321 |
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Autore |
Eskesen Leif |
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Titolo |
The Role for Counter-Cyclical Fiscal Policy in Singapore / / Leif Eskesen |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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1-4623-0836-8 |
1-4527-9548-7 |
9786612842306 |
1-282-84230-7 |
1-4518-7155-4 |
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Descrizione fisica |
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1 online resource (18 p.) |
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Collana |
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Soggetti |
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Fiscal policy - Singapore |
Economic policy |
Econometrics |
Macroeconomics |
Public Finance |
Fiscal Policy |
Fiscal Policies and Behavior of Economic Agents: General |
National Government Expenditures and Related Policies: General |
Taxation, Subsidies, and Revenue: General |
Time-Series Models |
Dynamic Quantile Regressions |
Dynamic Treatment Effect Models |
Diffusion Processes |
State Space Models |
Public finance & taxation |
Econometrics & economic statistics |
Fiscal policy |
Expenditure |
Fiscal stimulus |
Revenue administration |
Structural vector autoregression |
Econometric analysis |
Expenditures, Public |
Revenue |
Singapore |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Cross-Country Evidence on the Counter-cyclical Role of Fiscal Policy; Figures; 1. Fiscal Multipliers from SVAR and Macroeconometric Models- Cross-Country Evidence; III. The Counter-cyclical Role of Fiscal Policy in Singapore; A. Empirical Approach; B. Empirical Results; 2. Fiscal Multipliers-SVAR Results; 3. Fiscal Multipliers-SVAR Results; IV. The Role for Fiscal Policy in the Current Downturn; V. Concluding Remarks; References |
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Sommario/riassunto |
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Singapore's policymakers have often used fiscal policy as a counter-cyclical tool. Empirical results based on a structural autoregression framework suggest that fiscal policy can be used for demand management, although the impact may be somewhat short lived. The short-lived impact could reflect a number of factors, including the absence of credit-constrained economic agents, a high propensity to save among households, monetary focus on price stability, and leakages due to economic openness. Notwithstanding, fiscal policy should still play a key stabilizing role in the current downturn given the downside risks to growth and the vast fiscal space. |
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