LEADER 05179oam  22013094  450 
001 9910810750603321
005 20240515190110.0
010   $a1-4623-9822-7
010   $a1-4527-2793-7
010   $a1-283-51535-0
010   $a1-4519-0976-4
010   $a9786613827807
035   $a(CKB)3360000000443708
035   $a(EBL)3014360
035   $a(SSID)ssj0000940077
035   $a(PQKBManifestationID)11518981
035   $a(PQKBTitleCode)TC0000940077
035   $a(PQKBWorkID)10948363
035   $a(PQKB)11027616
035   $a(OCoLC)698585578
035   $a(IMF)WPIEE2006263
035   $a(MiAaPQ)EBC3014360
035   $a(EXLCZ)993360000000443708
100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aCan Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses /$fCeline Rochon, Andrew Feltenstein
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (27 p.)
225 1 $aIMF Working Papers
300   $a"November 2006".
311   $a1-4518-6523-6 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. CALIBRATION AND SIMULATIONS""; ""IV. POLICY""; ""V. CONCLUSION""; ""REFERENCES""
330 3 $aIn this paper, we study the impact of labor market restructuring and foreign direct investment on the banking sector, using a dynamic general equilibrium model with a financial sector. Numerical simulations are performed using stylized Chinese data, and banks failures are generated through increases in the growth rate of the labor force, a revaluation of the exchange rate or an increase in debt issue to finance the government deficit, as compared to a benchmark scenario in which banks remain solvent. Thus bank failures can result from what might seem to be either beneficial economic trends, or correct monetary and fiscal policies. We introduce fiscal policies that modify relative factor prices by lowering the capital tax rate and increasing the tax rate on labor. Such policies can prevent banking failures by raising the return to capital. It is shown that such fiscal policies are, in the short run, welfare reducing.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/263
606   $aBank failures
606   $aFiscal policy
606   $aBanks and Banking$2imf
606   $aBudgeting$2imf
606   $aExports and Imports$2imf
606   $aPublic Finance$2imf
606   $aIndustries: Financial Services$2imf
606   $aInternational Investment$2imf
606   $aLong-term Capital Movements$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aNational Budget$2imf
606   $aBudget Systems$2imf
606   $aDebt$2imf
606   $aDebt Management$2imf
606   $aSovereign Debt$2imf
606   $aFinancial Institutions and Services: General$2imf
606   $aFinance$2imf
606   $aBanking$2imf
606   $aBudgeting & financial management$2imf
606   $aPublic finance & taxation$2imf
606   $aForeign direct investment$2imf
606   $aBudget planning and preparation$2imf
606   $aGovernment debt management$2imf
606   $aDistressed institutions$2imf
606   $aInvestments, Foreign$2imf
606   $aBanks and banking$2imf
606   $aBudget$2imf
606   $aDebts, Public$2imf
606   $aFinancial services industry$2imf
607   $aChina, People's Republic of$2imf
615  0$aBank failures.
615  0$aFiscal policy.
615  7$aBanks and Banking
615  7$aBudgeting
615  7$aExports and Imports
615  7$aPublic Finance
615  7$aIndustries: Financial Services
615  7$aInternational Investment
615  7$aLong-term Capital Movements
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aNational Budget
615  7$aBudget Systems
615  7$aDebt
615  7$aDebt Management
615  7$aSovereign Debt
615  7$aFinancial Institutions and Services: General
615  7$aFinance
615  7$aBanking
615  7$aBudgeting & financial management
615  7$aPublic finance & taxation
615  7$aForeign direct investment
615  7$aBudget planning and preparation
615  7$aGovernment debt management
615  7$aDistressed institutions
615  7$aInvestments, Foreign
615  7$aBanks and banking
615  7$aBudget
615  7$aDebts, Public
615  7$aFinancial services industry
700   $aRochon$b Celine$01623776
701   $aFeltenstein$b Andrew$0897110
801  0$bDcWaIMF
906   $aBOOK
912   $a9910810750603321
996   $aCan Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses$93958392
997   $aUNINA