LEADER 03178nam 2200625 450 001 9910464005103321 005 20170817212643.0 010 $a1-4623-7699-1 010 $a1-4527-5110-2 010 $a1-282-84041-X 010 $a1-4518-6931-2 010 $a9786612840418 035 $a(CKB)3170000000054990 035 $a(EBL)1607805 035 $a(SSID)ssj0000943965 035 $a(PQKBManifestationID)11503314 035 $a(PQKBTitleCode)TC0000943965 035 $a(PQKBWorkID)10982749 035 $a(PQKB)10356343 035 $a(OCoLC)647099025 035 $a(MiAaPQ)EBC1607805 035 $a(EXLCZ)993170000000054990 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aAchieving a soft landing $ethe role of fiscal policy /$fDaniel Leigh 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (25 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/69 300 $aDescription based upon print version of record. 311 $a1-4519-1384-2 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Methodology; III. Results: Macroeconomic Effects of Fiscal Policy Tightening; Figures; 1. Domestic Risk Premium and the Debt-to-GDP Ratio; 2. Exogenous Permanent Cut in Public Consumption of 0.5 Percent of GDP; 3. Exogenous Permanent Cut in Public Investment of 0.5 Percent of GDP; IV. Results: Fiscal Policy and Macroeconomic Stability; 4. Private Savings Shock and Strength of Fiscal Policy Response; 5. Markup Shock and Strength of Fiscal Policy Response; 6. Efficiency Frontier: Markup Shock 327 $a7. Efficiency Frontier for Different Monetary Policy Response Parameters8. Temporary Fall in Risk Premium by 100 Basis Points; 9. Risk Premium Shock and Strength of Fiscal Policy Response; V. Conclusions; References 330 $aThis paper utilizes an open-economy New Keynesian overlapping generations model to assess the extent to which fiscal policy, along side an inflation-forecast-based monetary policy, could enhance macroeconomic stability in Colombia. The model simulations indicate that, in addition to stabilizing output and inflation, a stronger response of the fiscal balance to excess tax revenue would reduce the burden on the central bank of adjusting interest rates, lessen the associated degree of exchange rate volatility, and contribute to a more stable external current account balance. The analysis also ass 410 0$aIMF Working Papers 606 $aFiscal policy$zColombia$xEconometric models 606 $aMonetary policy$zColombia$xEconometric models 608 $aElectronic books. 615 0$aFiscal policy$xEconometric models. 615 0$aMonetary policy$xEconometric models. 676 $a336.861 700 $aLeigh$b Daniel$0867941 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464005103321 996 $aAchieving a soft landing$92025806 997 $aUNINA