05533oam 22014774 450 991081074830332120240515185928.01-4623-1651-41-4527-5721-61-283-51484-21-4519-0841-59786613827296(CKB)3360000000443657(EBL)3014319(SSID)ssj0000940022(PQKBManifestationID)11519257(PQKBTitleCode)TC0000940022(PQKBWorkID)10946749(PQKB)10865616(OCoLC)712989242(IMF)WPIEE2006045(MiAaPQ)EBC3014319(EXLCZ)99336000000044365720020129d2006 uf 0engur|n|---|||||txtccrA New-Open-Economy Macro Model for Fiscal Policy Evaluation /Dirk Muir, Douglas Laxton, Dennis Botman, Andrei Romanov1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (46 p.)IMF Working Papers"February 2006."1-4518-6305-5 Includes bibliographical references (p. 23-26).""Contents""; ""I. Introduction""; ""II. The Model""; ""III. The Effects of Tax Cuts in a Small and Large Open Economy""; ""IV. Sensitivity Analysis""; ""V. Conclusion""; ""References""We develop a New-Open-Economy-Macro model in which Ricardian equivalence does not hold because of (i) distortionary labor and corporate income taxation; (ii) limited asset market participation; and (iii) because the overlapping-generations structure results in a disconnect between current and future generations. We consider a permanent increase in government debt following a cut in labor or corporate income taxes in a small and large open economy. We analyze the sensitivity of the results to the key structural parameters of the model and argue that under plausible assumptions there will be significant crowding-out effects associated with permanent increases in government debt.IMF Working Papers; Working Paper ;No. 2006/045Fiscal policyEconometric modelsMacroeconomicsBanks and BankingimfMacroeconomicsimfPublic FinanceimfTaxationimfFiscal PolicyimfOpen Economy MacroeconomicsimfInternational Policy Coordination and TransmissionimfFiscal Policies and Behavior of Economic Agents: GeneralimfDebtimfDebt ManagementimfSovereign DebtimfInterest Rates: Determination, Term Structure, and EffectsimfPersonal Income and Other Nonbusiness Taxes and SubsidiesimfMacroeconomics: ConsumptionimfSavingimfWealthimfLabor Economics: GeneralimfPublic finance & taxationimfFinanceimfWelfare & benefit systemsimfLabourimfincome economicsimfPublic debtimfReal interest ratesimfLabor taxesimfConsumptionimfLaborimfFinancial servicesimfTaxesimfNational accountsimfDebts, PublicimfInterest ratesimfIncome taximfEconomicsimfLabor economicsimfUnited StatesimfFiscal policyEconometric models.Macroeconomics.Banks and BankingMacroeconomicsPublic FinanceTaxationFiscal PolicyOpen Economy MacroeconomicsInternational Policy Coordination and TransmissionFiscal Policies and Behavior of Economic Agents: GeneralDebtDebt ManagementSovereign DebtInterest Rates: Determination, Term Structure, and EffectsPersonal Income and Other Nonbusiness Taxes and SubsidiesMacroeconomics: ConsumptionSavingWealthLabor Economics: GeneralPublic finance & taxationFinanceWelfare & benefit systemsLabourincome economicsPublic debtReal interest ratesLabor taxesConsumptionLaborFinancial servicesTaxesNational accountsDebts, PublicInterest ratesIncome taxEconomicsLabor economicsMuir Dirk1621919Laxton Douglas1594457Botman Dennis901784Romanov Andrei1621920International Monetary Fund.Fiscal Affairs Dept.International Monetary Fund.Research Dept.DcWaIMFBOOK9910810748303321A New-Open-Economy Macro Model for Fiscal Policy Evaluation3955466UNINA