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Record Nr. |
UNINA9910788698903321 |
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Autore |
Vasishtha Garima |
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Titolo |
Fiscal and Monetary Nexus in Emerging Market Economies : : How Does Debt Matter? / / Garima Vasishtha, Taimur Baig, Manmohan Kumar, Edda Zoli |
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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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1-4623-3466-0 |
1-4527-9958-X |
1-283-51648-9 |
9786613828934 |
1-4519-8905-9 |
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Descrizione fisica |
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1 online resource (43 p.) |
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Collana |
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Altri autori (Persone) |
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BaigTaimur |
KumarManmohan |
ZoliEdda |
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Soggetti |
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Debts, Public |
Fiscal policy |
Banks and Banking |
Foreign Exchange |
Macroeconomics |
Public Finance |
Fiscal Policy |
Interest Rates: Determination, Term Structure, and Effects |
Debt |
Debt Management |
Sovereign Debt |
Currency |
Foreign exchange |
Finance |
Public finance & taxation |
Exchange rates |
Fiscal stance |
Long term interest rates |
Public debt |
Interest rates |
United States |
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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. FISCAL-MONETARY NEXUS: ANALYTICAL AND EMPIRICAL STUDIES""; ""III. CROSS-COUNTRY ANALYSIS""; ""IV. NEWS ANALYSIS""; ""V. CONCLUDING REMARKS""; ""APPENDIXES"" |
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Sommario/riassunto |
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This paper examines two main aspects of the interaction between fiscal and monetary policy in emerging market economies. First, it explores the interest rate-inflation relationship in economies with different levels of external and domestic public debt using panel- and crosssection data. The results show that interest rate-inflation elasticity weakens with debt/GDP and external debt/GDP. Second, it utilizes high-frequency data from Brazil, Turkey, and Poland to examine how market-determined variables react to economic news. The results suggest that when vulnerabilities are high, budget news has the most significant impact on country spreads and interest rates, and the impact of monetary policy is weakened. |
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