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010   $a9786612842801
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100   $a20041202d2009      uf         0
101 0 $aeng
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181   $ctxt
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200 10$aMonetary and fiscal policy options for dealing with external shocks $einsights from the GIMF for Colombia /$fprepared by Benedict Clements, Enrique Flores, and Daniel Leigh
205   $a1st ed.
210   $a[Washington D.C.] $cInternational Monetary Fund$d2009
215   $a1 online resource (19 p.)
225 1 $aIMF working paper ;$vWP/09/59
300   $aDescription based upon print version of record.
311   $a1-4519-1641-8 
320   $aIncludes bibliographical references.
327   $aCONTENTS; I. Introduction; II. The Model; III. Macroeconomic Effects of External Shocks and Alternative Policy Responses; Figures; 1. Macroeconomic Effects of a Decline in Demand for Colombian Exports Under Different Policy Responses; 2. Macroeconomic Response to a Decline in World Growth; 3. Macroeconomic Effects of Temporary Increase in Risk Premia; IV. The Role of Fiscal Policy Under Different Financing Conditions; 4. Macroeconomic Response to a Decline in the Demand for Colombian Exports under Adverse Financing Conditions; V. Summary of Policy Implications
327   $a5. Macroeconomic Response to a Decline in the Demand for Colombian Exports under a Prolonged Financing ShockReferences
330 3 $aThis paper utilizes an open-economy New Keynesian overlapping generations model, the Global Integrated Monetary and Fiscal Model (GIMF), to assess the macroeconomic effects of external shocks and the impact of various monetary and fiscal policy responses. The simulations assess the effect of shocks to trade, world income, and risk premia for public debt. The results suggest that under Colombia?s inflation targeting regime, which incorporates exchange rate flexibility and a highly responsive monetary policy, the economy is well poised to adjust to different external shocks. They also suggest that the potential role of fiscal policy in responding to shocks depends critically on financing conditions.
410  0$aIMF working paper ;$vWP/09/59.
606   $aDebts, External$zColombia
606   $aFiscal policy$zColombia
615  0$aDebts, External
615  0$aFiscal policy
676   $a332.152
700   $aClements$b Benedict J$0122914
701   $aLeigh$b Daniel$01603511
701   $aFlores$b Enrique$01637029
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910825977303321
996   $aMonetary and fiscal policy options for dealing with external shocks$94201279
997   $aUNINA