04050nam 2200625Ia 450 991046400200332120170817212504.01-4623-8200-21-4527-8639-91-282-84373-71-4518-7307-79786612843730(CKB)3170000000055313(EBL)1608378(SSID)ssj0001477276(PQKBManifestationID)11978820(PQKBTitleCode)TC0001477276(PQKBWorkID)11452779(PQKB)10353938(OCoLC)645199037(MiAaPQ)EBC1608378(EXLCZ)99317000000005531320090818d2009 uf 0engur|n|---|||||txtccrHow effective is fiscal policy response in systemic banking crises?[electronic resource] /Emanuele Baldacci, Sanjeev Gupta, Carlos Mulas-Granados[Washington, DC] International Monetary Fund20091 online resource (40 p.)IMF working paper ;09/160Description based upon print version of record.1-4519-1735-X Contents; I. Introduction; II. Literature Review; III. Fiscal Policy During Banking Crises; Figures; 1. Frequency and Duration of Banking Crises; 2. Economic Consequences of Banking Crises; Tables; 1. Fiscal Aggregates; IV. The Effectiveness of Fiscal Response; 2. Budget Composition: Revenues; 3. Budget Composition Expenditures; 3. Fiscal Policy and Crisis Length; 4. Fiscal Expansion Composition and Post-Crisis Growth; 5. Fiscal Policy, Resolution Policies, and Crisis Length; 6. Fiscal Policy Composition, Resolution Policies, and Crisis Length7. Fiscal Policy Composition, Resolution Policies, and Post-Crisis Growth8. Explaining Crisis Length Controlling for Initial Fiscal Conditions; 9. Explaining Crisis Length Controlling for Initial Economic Conditions; 10. Explaining Post-Crisis Growth Controlling for Initial Fiscal Conditions; 11. Explaining Post-Crisis Growth Controlling for Initial Economic Conditions; V. Robustness Analysis; VI. Conclusion; Appendixes; Appendix Tables; A1. Episodes of Banking Crisis in the World, 1980-2008; A2. Budget Composition: Revenues; A3. Budget Composition: ExpendituresA4. The Relationship Between Containment and Resolution Policies and Crisis LengthA5. Robustness Estimations: Different Definition of Crisis Duration Based on Stock Market Recovery; A6. Robustness Estimations: Focusing on Discretionary Expansionary Fiscal Policy; A7. Robustness Estimations: Controlling for Endogeneity; ReferencesThis paper studies the effects of fiscal policy response in 118 episodes of systemic banking crisis in advanced and emerging market countries during 1980-2008. It finds that timely countercyclical fiscal measures contribute to shortening the length of crisis episodes by stimulating aggregate demand. Fiscal expansions that rely mostly on measures to support government consumption are more effective in shortening the crisis duration than those based on public investment or income tax cuts. But these results do not hold for countries with limited fiscal space where fiscal expansions are preventedIMF working paper ;WP/09/160.Bank failuresCostsEconometric modelsFinancial crisesCostsEconometric modelsElectronic books.Bank failuresCostsEconometric models.Financial crisesCostsEconometric models.Baldacci Emanuele117934Gupta Sanjeev257292Mulas-Granados Carlos502576International Monetary Fund.Fiscal Affairs Dept.MiAaPQMiAaPQMiAaPQBOOK9910464002003321How effective is fiscal policy response in systemic banking crises1924024UNINA