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Record Nr. |
UNINA9910788405503321 |
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Autore |
Kumar Manmohan |
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Titolo |
Fundamental Determinants of the Effects of Fiscal Policy / / Manmohan Kumar, Dennis Botman |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-0239-4 |
1-4527-2089-4 |
1-283-51542-3 |
1-4519-0868-7 |
9786613827876 |
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Descrizione fisica |
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1 online resource (48 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Fiscal policy - Econometric models |
Economic policy - Econometric models |
Banks and Banking |
Macroeconomics |
Public Finance |
Taxation |
Debt |
Debt Management |
Sovereign Debt |
Interest Rates: Determination, Term Structure, and Effects |
Macroeconomics: Consumption |
Saving |
Wealth |
Personal Income and Other Nonbusiness Taxes and Subsidies |
Fiscal Policy |
Public finance & taxation |
Finance |
Welfare & benefit systems |
Public debt |
Real interest rates |
Consumption |
Labor taxes |
Fiscal policy |
Debts, Public |
Interest rates |
Economics |
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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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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. 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"" |
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Sommario/riassunto |
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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. |
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