05570oam 22013454 450 991082608600332120200520144314.01-4623-7805-61-4527-6729-71-283-51291-21-4519-0932-29786613825360(CKB)3360000000443528(EBL)3014444(SSID)ssj0000943015(PQKBManifestationID)11528416(PQKBTitleCode)TC0000943015(PQKBWorkID)10975142(PQKB)11041574(OCoLC)694141100(MiAaPQ)EBC3014444(IMF)WPIEE2006219(IMF)WPIEA2006219(EXLCZ)99336000000044352820020129d2006 uf 0engur|n|---|||||txtccrPost-Crisis Recovery : When Does Increased Fiscal Discipline Work? /Pritha Mitra1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (45 p.)IMF Working Papers"September 2006."1-4518-6479-5 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. THE MODEL""; ""A. Households""; ""B. Firms""; ""C. Government""; ""D. Domestic Financial Intermediary""; ""E. Foreign Creditor""; ""IV. EQUILIBRIUM CONDITIONS""; ""V. PARAMETERS""; ""VI. SIMULATIONS""; ""A. The Base Case""; ""B. Application of Disciplined Fiscal Policy""; ""C. Application of Simulation Results to Korea and Thailand""; ""VII. CONCLUSIONS AND FURTHER RESEARCH""; ""References""; ""Appendix: Simulated Paths of Variables""Emerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign creditors and initially recommended disciplined fiscal policy during the height of crisis, countering standard Keynesian recommendations of expansionary fiscal stimulus. This paper formulates an open-economy general equilibrium model for resolving this policy conundrum and analyzing the impact of disciplined fiscal policy on post-crisis recovery. The model demonstrates via simulations that disciplined fiscal policy will improve (worsen) post-crisis recovery in the presence (absence) of appropriately defined production flexibility.IMF Working Papers; Working Paper ;No. 2006/219Financial crisesDeveloping countriesEconometric modelsFiscal policyDeveloping countriesEconometric modelsBanksimfCollateralimfDebt ManagementimfDebtimfDebts, PublicimfDepository InstitutionsimfFinanceimfFinancial institutionsimfFiscal PolicyimfFiscal policyimfGeneral Aggregative Models: GeneralimfIncome economicsimfIndustries: Financial ServicesimfLabor economicsimfLabor Economics: GeneralimfLaborimfLabourimfLoansimfMacroeconomic Aspects of International Trade and Finance: Forecasting and SimulationimfMacroeconomicsimfMicro Finance InstitutionsimfMortgagesimfOpen Economy MacroeconomicsimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfPublic debtimfPublic finance & taxationimfPublic FinanceimfRevenue administrationimfRevenueimfSovereign DebtimfTaxation, Subsidies, and Revenue: GeneralimfKorea, Republic ofimfFinancial crisesEconometric models.Fiscal policyEconometric models.BanksCollateralDebt ManagementDebtDebts, PublicDepository InstitutionsFinanceFinancial institutionsFiscal PolicyFiscal policyGeneral Aggregative Models: GeneralIncome economicsIndustries: Financial ServicesLabor economicsLabor Economics: GeneralLaborLabourLoansMacroeconomic Aspects of International Trade and Finance: Forecasting and SimulationMacroeconomicsMicro Finance InstitutionsMortgagesOpen Economy MacroeconomicsPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Public debtPublic finance & taxationPublic FinanceRevenue administrationRevenueSovereign DebtTaxation, Subsidies, and Revenue: GeneralMitra Pritha1769199International Monetary Fund.DcWaIMFBOOK9910826086003321Post-Crisis Recovery4237398UNINA