04908oam 22012854 450 991095902800332120250426110818.0978661382787697814623023901462302394978145272089014527208949781283515429128351542397814519086881451908687(CKB)3360000000443715(EBL)3014526(SSID)ssj0000941183(PQKBManifestationID)11587743(PQKBTitleCode)TC0000941183(PQKBWorkID)10963656(PQKB)10957437(OCoLC)694141229(IMF)WPIEE2006072(MiAaPQ)EBC3014526(IMF)WPIEA2006072WPIEA2006072(EXLCZ)99336000000044371520020129d2006 uf 0engur|n|---|||||txtccrFundamental Determinants of the Effects of Fiscal Policy /Manmohan Kumar, Dennis Botman1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (48 p.)IMF Working Papers"March 2006."9781451863321 1451863322 Includes bibliographical references.""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""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.IMF Working Papers; Working Paper ;No. 2006/072Fiscal policyEconometric modelsEconomic policyEconometric modelsBanks and BankingimfConsumptionimfDebt ManagementimfDebtimfDebts, PublicimfEconomicsimfFinanceimfFiscal PolicyimfFiscal policyimfIncome taximfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfLabor taxesimfMacroeconomicsimfMacroeconomics: ConsumptionimfPersonal Income and Other Nonbusiness Taxes and SubsidiesimfPublic debtimfPublic finance & taxationimfPublic FinanceimfReal interest ratesimfSavingimfSovereign DebtimfTaxationimfWealthimfWelfare & benefit systemsimfUnited StatesimfFiscal policyEconometric models.Economic policyEconometric models.Banks and BankingConsumptionDebt ManagementDebtDebts, PublicEconomicsFinanceFiscal PolicyFiscal policyIncome taxInterest ratesInterest Rates: Determination, Term Structure, and EffectsLabor taxesMacroeconomicsMacroeconomics: ConsumptionPersonal Income and Other Nonbusiness Taxes and SubsidiesPublic debtPublic finance & taxationPublic FinanceReal interest ratesSavingSovereign DebtTaxationWealthWelfare & benefit systemsKumar Manmohan1803826Botman Dennis901784International Monetary Fund.Fiscal Affairs Dept.DcWaIMFBOOK9910959028003321Fundamental Determinants of the Effects of Fiscal Policy4372447UNINA