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100   $a20070507d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aPost-crisis recovery $ewhen does increased fiscal discipline work? /$fprepared by Pritha Mitra
205   $a1st ed.
210   $aWashington, D.C. $cInternational Monetary Fund, IMF Institute$dc2006
215   $a1 online resource (45 p.)
225 1 $aIMF working paper ;$vWP/06/219
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 paper ;$vWP/06/219.
606   $aFinancial crises$zDeveloping countries$xEconometric models
606   $aFiscal policy$zDeveloping countries$xEconometric models
615  0$aFinancial crises$xEconometric models.
615  0$aFiscal policy$xEconometric models.
700   $aMitra$b Pritha$f1974-$01760742
712 02$aInternational Monetary Fund.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910826086003321
996   $aPost-crisis recovery$94203928
997   $aUNINA