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010   $a9786612843211
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100   $a20041202d2009      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aFiscal stimulus with spending reversals /$fprepared by Giancarlo Corsetti, Andre Meier, and Gernot Muller
205   $a1st ed.
210   $a[Washington D.C.] $cInternational Monetary Fund$d2009
215   $a1 online resource (41 p.)
225 1 $aIMF working paper ;$vWP/09/106
300   $aDescription based upon print version of record.
311   $a1-4519-1683-3 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; II. Model; A. Final Good Firms; B. Intermediate Good Firms; C. Households; D. Government; E. Equilibrium; III. Fiscal Policy Transmission with Spending Reversals; A. Parameterization; Tables; 1. Parameterization of the Model; B. Quantitative Analysis; Figures; 1. Effect of Government Spending Shocks: Sticky Price vs. Flexible Price Allocation; 2. Effect of Government Spending Shocks: Debt-Stabilizing vs. Debt- Insensitive Spending Rule; 3. Effect of Government Spending Shocks: Model with Limited Participation in Asset Markets; IV. Time Series Evidence
327   $aA. VAR SpecificationB. Results; 4. Fiscal Policy Transmission According to VAR Model: Effects of VAR Shock; 5. Fiscal Policy Transmission According to VAR Model: Effects of Military Event; V. Conclusion; References; Appendices; I. More Simulation Results; Appendix Figures; A.1.  Effect of Government Spending Shocks: Debt-Stabilizing vs. Debt- Insensitive Government Spending under Complete Markets; A.2. Effects of Government Spending Shocks: High Debt Elasticity of Interest Rates vs. Baseline; II. Data; III. Sensitivity Analysis of VAR Results
327   $aA.3. Fiscal Policy Transmission According to VAR Model: Effects of VAR Shock. Sensitivity AnalysisA.4. Fiscal Policy Transmission According to VAR Model: Effects of Military Event. Sensitivity Analysis; A.5. Fiscal Policy Transmission According to VAR Model: Effects of VAR Shock in Nominal VAR; A.6. Fiscal Policy  Transmission According to VAR Model: Effects of Military Event in Nominal VAR
330 3 $aThe impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to a subsequent period of spending restraint. Accounting for such spending reversals brings an otherwise standard new Keynesian model in line with the stylized facts of fiscal transmission, including the crowding-in of consumption and the 'puzzle' of real exchange rate depreciation. Time series evidence for the U.S. supports the empirical relevance of spending reversals.
410  0$aIMF working paper ;$vWP/09/106.
606   $aExpenditures, Public
606   $aFiscal policy
615  0$aExpenditures, Public.
615  0$aFiscal policy.
676   $a332.1
700   $aCorsetti$b Giancarlo$0122773
701   $aMeier$b Andre$f1960-$0862014
701   $aMuller$b Gerno$f1943-$01755994
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910828974903321
996   $aFiscal stimulus with spending reversals$94193048
997   $aUNINA