LEADER 04050nam 2200625Ia 450 001 9910464002003321 005 20170817212504.0 010 $a1-4623-8200-2 010 $a1-4527-8639-9 010 $a1-282-84373-7 010 $a1-4518-7307-7 010 $a9786612843730 035 $a(CKB)3170000000055313 035 $a(EBL)1608378 035 $a(SSID)ssj0001477276 035 $a(PQKBManifestationID)11978820 035 $a(PQKBTitleCode)TC0001477276 035 $a(PQKBWorkID)11452779 035 $a(PQKB)10353938 035 $a(OCoLC)645199037 035 $a(MiAaPQ)EBC1608378 035 $a(EXLCZ)993170000000055313 100 $a20090818d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aHow effective is fiscal policy response in systemic banking crises?$b[electronic resource] /$fEmanuele Baldacci, Sanjeev Gupta, Carlos Mulas-Granados 210 $a[Washington, DC] $cInternational Monetary Fund$d2009 215 $a1 online resource (40 p.) 225 1 $aIMF working paper ;$v09/160 300 $aDescription based upon print version of record. 311 $a1-4519-1735-X 327 $aContents; 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 Length 327 $a7. 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: Expenditures 327 $aA4. 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; References 330 $aThis paper studies the effects of fiscal policy response in 118 episodes of systemic banking crisis in advanced and emerging market countries during 1980-2008. It finds that timely countercyclical fiscal measures contribute to shortening the length of crisis episodes by stimulating aggregate demand. Fiscal expansions that rely mostly on measures to support government consumption are more effective in shortening the crisis duration than those based on public investment or income tax cuts. But these results do not hold for countries with limited fiscal space where fiscal expansions are prevented 410 0$aIMF working paper ;$vWP/09/160. 606 $aBank failures$xCosts$xEconometric models 606 $aFinancial crises$xCosts$xEconometric models 608 $aElectronic books. 615 0$aBank failures$xCosts$xEconometric models. 615 0$aFinancial crises$xCosts$xEconometric models. 700 $aBaldacci$b Emanuele$0117934 701 $aGupta$b Sanjeev$0257292 701 $aMulas-Granados$b Carlos$0502576 712 02$aInternational Monetary Fund.$bFiscal Affairs Dept. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464002003321 996 $aHow effective is fiscal policy response in systemic banking crises$91924024 997 $aUNINA