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100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aPost-Crisis Recovery : $eWhen Does Increased Fiscal Discipline Work? /$fPritha Mitra
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (45 p.)
225 1 $aIMF Working Papers
300   $a"September 2006."
311   $a1-4518-6479-5 
320   $aIncludes bibliographical references.
327   $a""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""
330 3 $aEmerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign creditors and initially recommended disciplined fiscal policy during the height of crisis, countering standard Keynesian recommendations of expansionary fiscal stimulus. This paper formulates an open-economy general equilibrium model for resolving this policy conundrum and analyzing the impact of disciplined fiscal policy on post-crisis recovery. The model demonstrates via simulations that disciplined fiscal policy will improve (worsen) post-crisis recovery in the presence (absence) of appropriately defined production flexibility.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/219
606   $aFinancial crises$zDeveloping countries$xEconometric models
606   $aFiscal policy$zDeveloping countries$xEconometric models
606   $aMacroeconomics$2imf
606   $aPublic Finance$2imf
606   $aIndustries: Financial Services$2imf
606   $aGeneral Aggregative Models: General$2imf
606   $aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)$2imf
606   $aFiscal Policy$2imf
606   $aOpen Economy Macroeconomics$2imf
606   $aMacroeconomic Aspects of International Trade and Finance: Forecasting and Simulation$2imf
606   $aDebt$2imf
606   $aDebt Management$2imf
606   $aSovereign Debt$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aLabor Economics: General$2imf
606   $aTaxation, Subsidies, and Revenue: General$2imf
606   $aPublic finance & taxation$2imf
606   $aFinance$2imf
606   $aLabour$2imf
606   $aincome economics$2imf
606   $aPublic debt$2imf
606   $aFiscal policy$2imf
606   $aCollateral$2imf
606   $aLabor$2imf
606   $aRevenue administration$2imf
606   $aFinancial institutions$2imf
606   $aDebts, Public$2imf
606   $aLoans$2imf
606   $aLabor economics$2imf
606   $aRevenue$2imf
607   $aKorea, Republic of$2imf
615  0$aFinancial crises$xEconometric models.
615  0$aFiscal policy$xEconometric models.
615  7$aMacroeconomics
615  7$aPublic Finance
615  7$aIndustries: Financial Services
615  7$aGeneral Aggregative Models: General
615  7$aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
615  7$aFiscal Policy
615  7$aOpen Economy Macroeconomics
615  7$aMacroeconomic Aspects of International Trade and Finance: Forecasting and Simulation
615  7$aDebt
615  7$aDebt Management
615  7$aSovereign Debt
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aLabor Economics: General
615  7$aTaxation, Subsidies, and Revenue: General
615  7$aPublic finance & taxation
615  7$aFinance
615  7$aLabour
615  7$aincome economics
615  7$aPublic debt
615  7$aFiscal policy
615  7$aCollateral
615  7$aLabor
615  7$aRevenue administration
615  7$aFinancial institutions
615  7$aDebts, Public
615  7$aLoans
615  7$aLabor economics
615  7$aRevenue
700   $aMitra$b Pritha$01574037
712 02$aInternational Monetary Fund.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788408203321
996   $aPost-Crisis Recovery$93850053
997   $aUNINA