LEADER 05567oam 22014894 450 001 9910810748303321 005 20200520144314.0 010 $a1-4623-1651-4 010 $a1-4527-5721-6 010 $a1-283-51484-2 010 $a1-4519-0841-5 010 $a9786613827296 035 $a(CKB)3360000000443657 035 $a(EBL)3014319 035 $a(SSID)ssj0000940022 035 $a(PQKBManifestationID)11519257 035 $a(PQKBTitleCode)TC0000940022 035 $a(PQKBWorkID)10946749 035 $a(PQKB)10865616 035 $a(OCoLC)712989242 035 $a(IMF)WPIEE2006045 035 $a(MiAaPQ)EBC3014319 035 $a(IMF)WPIEA2006045 035 $a(EXLCZ)993360000000443657 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 12$aA New-Open-Economy Macro Model for Fiscal Policy Evaluation /$fDirk Muir, Douglas Laxton, Dennis Botman, Andrei Romanov 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (46 p.) 225 1 $aIMF Working Papers 300 $a"February 2006." 311 $a1-4518-6305-5 320 $aIncludes bibliographical references (p. 23-26). 327 $a""Contents""; ""I. Introduction""; ""II. The Model""; ""III. The Effects of Tax Cuts in a Small and Large Open Economy""; ""IV. Sensitivity Analysis""; ""V. Conclusion""; ""References"" 330 3 $aWe develop a New-Open-Economy-Macro model in which Ricardian equivalence does not hold because of (i) distortionary labor and corporate income taxation; (ii) limited asset market participation; and (iii) because the overlapping-generations structure results in a disconnect between current and future generations. We consider a permanent increase in government debt following a cut in labor or corporate income taxes in a small and large open economy. We analyze the sensitivity of the results to the key structural parameters of the model and argue that under plausible assumptions there will be significant crowding-out effects associated with permanent increases in government debt. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/045 606 $aFiscal policy$xEconometric models 606 $aMacroeconomics 606 $aBanks and Banking$2imf 606 $aConsumption$2imf 606 $aDebt Management$2imf 606 $aDebt$2imf 606 $aDebts, Public$2imf 606 $aEconomics$2imf 606 $aFinance$2imf 606 $aFinancial services$2imf 606 $aFiscal Policies and Behavior of Economic Agents: General$2imf 606 $aFiscal Policy$2imf 606 $aIncome economics$2imf 606 $aIncome tax$2imf 606 $aInterest rates$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aInternational Policy Coordination and Transmission$2imf 606 $aLabor economics$2imf 606 $aLabor Economics: General$2imf 606 $aLabor taxes$2imf 606 $aLabor$2imf 606 $aLabour$2imf 606 $aMacroeconomics$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aNational accounts$2imf 606 $aOpen Economy Macroeconomics$2imf 606 $aPersonal Income and Other Nonbusiness Taxes and Subsidies$2imf 606 $aPublic debt$2imf 606 $aPublic finance & taxation$2imf 606 $aPublic Finance$2imf 606 $aReal interest rates$2imf 606 $aSaving$2imf 606 $aSovereign Debt$2imf 606 $aTaxation$2imf 606 $aTaxes$2imf 606 $aWealth$2imf 606 $aWelfare & benefit systems$2imf 607 $aUnited States$2imf 615 0$aFiscal policy$xEconometric models. 615 0$aMacroeconomics. 615 7$aBanks and Banking 615 7$aConsumption 615 7$aDebt Management 615 7$aDebt 615 7$aDebts, Public 615 7$aEconomics 615 7$aFinance 615 7$aFinancial services 615 7$aFiscal Policies and Behavior of Economic Agents: General 615 7$aFiscal Policy 615 7$aIncome economics 615 7$aIncome tax 615 7$aInterest rates 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aInternational Policy Coordination and Transmission 615 7$aLabor economics 615 7$aLabor Economics: General 615 7$aLabor taxes 615 7$aLabor 615 7$aLabour 615 7$aMacroeconomics 615 7$aMacroeconomics: Consumption 615 7$aNational accounts 615 7$aOpen Economy Macroeconomics 615 7$aPersonal Income and Other Nonbusiness Taxes and Subsidies 615 7$aPublic debt 615 7$aPublic finance & taxation 615 7$aPublic Finance 615 7$aReal interest rates 615 7$aSaving 615 7$aSovereign Debt 615 7$aTaxation 615 7$aTaxes 615 7$aWealth 615 7$aWelfare & benefit systems 700 $aMuir$b Dirk$01621919 701 $aBotman$b Dennis$0901784 701 $aLaxton$b Douglas$01594457 701 $aRomanov$b Andrei$01768575 712 02$aInternational Monetary Fund.$bFiscal Affairs Dept. 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910810748303321 996 $aA New-Open-Economy Macro Model for Fiscal Policy Evaluation$94230077 997 $aUNINA