LEADER 06942oam 22013094 450 001 9910960627703321 005 20250426110858.0 010 $a9786612842443 010 $a9781462309368 010 $a1462309364 010 $a9781452711737 010 $a1452711739 010 $a9781451871692 010 $a1451871694 010 $a9781282842441 010 $a1282842447 035 $a(CKB)3170000000055183 035 $a(EBL)1608141 035 $a(SSID)ssj0000942129 035 $a(PQKBManifestationID)11543355 035 $a(PQKBTitleCode)TC0000942129 035 $a(PQKBWorkID)10971846 035 $a(PQKB)10921618 035 $a(OCoLC)465418354 035 $a(IMF)WPIEE2009022 035 $a(MiAaPQ)EBC1608141 035 $a(IMF)WPIEA2009022 035 $aWPIEA2009022 035 $a(EXLCZ)993170000000055183 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$a?Monetary and Fiscal Rules in an Emerging Small Open Economy? /$fPaul Levine, Joseph Pearlman, Nicoletta Batini 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (80 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451916058 311 08$a1451916051 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. The Model; A. Households; B. Firms; C. The Government Budget Constraint and Foreign Asset Accumulation; D. The Equilibrium; E. Specialization of the Household's Utility Function; F. State Space Representation; G. The Small Open Economy; H. Calibration; III. Monetary Policy Interest Rate Rules; IV. Fiscal Rules; A. A Conventional Fiscal Rule; B. The Structural Fiscal Surplus Rule; V. Imposing the Nominal Interest Rate Zero Lower Bound; VI. Optimal Monetary and Fiscal Policy with Financial Frictions; A. Imposing the ZLB; Figures; 1. Imposition of ZLB: Model I 327 $a2. Imposition of ZLB: Model IIIB. Welfare Decomposition; C. Impulse Responses; 3. Impulse Responses to a-1 Percent Technology Shock. Models I, II, and III; VII. The Performance of Optimized Simple Rules; 4. Imposition of ZLB: Flex(D)+Conventional Fiscal Rule, Model I; 5. Imposition of ZLB: Flex(D)+Conventional Fiscal Rule: Model III; VIII. Conclusions; Tables; 1. Notation for Prices; 2. Welfare Outcomes Under Optimal Policy: No ZLB Constraint; 3. Optimal Policy with a ZLB Constraint: Monetary Policy Only for Model I 327 $a4. Optimal Commitment with a ZLB Constraint. Monetary Plus Fiscal Policy for Model I5. Welfare Outcomes Under Optimal Policy: ZLB Constraint; 6. Welfare Decomposition of Shocks; 7. Welfare Outcomes Under Optimized Simple Rules: FLEX (D) with a Conventional Fiscal Rule. Models I, II and III; 8. Welfare Outcomes Under Optimized Simple Rules: FIX with a Conventional Fiscal Rule. Models I, II and III; 9. Welfare Outcomes Under Optimized Simple Rules: FLEX(C) with a Conventional Fiscal Rule. Models I, II and III 327 $a10. Welfare Outcomes Under Optimized Simple Rules: FLEX(D) with a Modified SFSR. Models I, II and IIIAppendixes; 1. The Steady State; 2. Linearization; 3. Calibration and Estimation; 4. Quadratic Approximation of the Welfare Loss 330 3 $aWe develop a optimal rules-based interpretation of the 'three pillars macroeconomic policy framework': a combination of a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensures a stable government debt-GDP ratio around a specified long run. We show how such monetary-fiscal rules need to be adjusted to accommodate specific features of emerging market economies. The model takes the form of two-blocs, a DSGE emerging small open economy interacting with the rest of the world and features, in particular, financial frictions It is calibrated using Chile and US data. Alongside the optimal Ramsey policy benchmark, we model the three pillars as simple monetary and fiscal rules including and both domestic and CPI inflation targeting interest rate rules alongside a 'Structural Surplus Fiscal Rule' as followed recently in Chile. A comparison with a fixed exchange rate regime is made. We find that domestic inflation targeting is superior to partially or implicitly (through a CPI inflation target) or fully attempting to stabilizing the exchange rate. Financial frictions require fiscal policy to play a bigger role and lead to an increase in the costs associated with simple rules as opposed to the fully optimal policy. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/022 606 $aMonetary policy$zDeveloping countries 606 $aFiscal policy$zDeveloping countries 606 $aBanks and Banking$2imf 606 $aConsumption$2imf 606 $aCurrencies$2imf 606 $aEconomics$2imf 606 $aFinance$2imf 606 $aFiscal Policy$2imf 606 $aFiscal policy$2imf 606 $aFiscal rules$2imf 606 $aGovernment and the Monetary System$2imf 606 $aInterest rates$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aMacroeconomics$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aMonetary economics$2imf 606 $aMonetary Systems$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aPayment Systems$2imf 606 $aPublic Finance$2imf 606 $aRegimes$2imf 606 $aSaving$2imf 606 $aStandards$2imf 606 $aWealth$2imf 606 $aZero lower bound$2imf 607 $aChile$2imf 615 0$aMonetary policy 615 0$aFiscal policy 615 7$aBanks and Banking 615 7$aConsumption 615 7$aCurrencies 615 7$aEconomics 615 7$aFinance 615 7$aFiscal Policy 615 7$aFiscal policy 615 7$aFiscal rules 615 7$aGovernment and the Monetary System 615 7$aInterest rates 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aMacroeconomics 615 7$aMacroeconomics: Consumption 615 7$aMonetary economics 615 7$aMonetary Systems 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aPayment Systems 615 7$aPublic Finance 615 7$aRegimes 615 7$aSaving 615 7$aStandards 615 7$aWealth 615 7$aZero lower bound 676 $a332.4;332.41 700 $aLevine$b Paul$0127428 701 $aBatini$b Nicoletta$01815833 701 $aPearlman$b Joseph$01815991 801 0$bDcWaIMF 906 $aBOOK 912 $a9910960627703321 996 $a?Monetary and Fiscal Rules in an Emerging Small Open Economy?$94371628 997 $aUNINA LEADER 06010nam 22006615 450 001 9910921011703321 005 20250630101753.0 010 $a9783031766503 010 $a3031766504 024 7 $a10.1007/978-3-031-76650-3 035 $a(CKB)37122967500041 035 $a(MiAaPQ)EBC31868071 035 $a(Au-PeEL)EBL31868071 035 $a(OCoLC)1493053593 035 $a(DE-He213)978-3-031-76650-3 035 $a(EXLCZ)9937122967500041 100 $a20250101d2024 u| 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aModern Technologies in Energy and Transport II /$fedited by Sergii Boichenko, Artur Zaporozhets, Iryna Shkilniuk, Anna Yakovlieva 205 $a1st ed. 2024. 210 1$aCham :$cSpringer Nature Switzerland :$cImprint: Springer,$d2024. 215 $a1 online resource (339 pages) 225 1 $aStudies in Systems, Decision and Control,$x2198-4190 ;$v574 311 08$a9783031766497 311 08$a3031766490 327 $aPart I: Decisions for Alternative Energy Sources Use in Modern Transport -- 1.Studies in Systems of Hydrogen Admixtures for Converted Diesel Engines -- 2.Process of Integrating Solar Energy on Seagoing Ships Considering Optimization Strategies -- 3.Survey of Ship Energy Autonomy Technologies and Development Perspectives -- 4.Energy-Saving Method for Predicting the Residual Life Of an Electric Motor and Software Development -- Part II: Solutions for Reducing Negative Impact of Energy and Transport on Environment -- 5.Increasing the Level of Energy Security of Ukraine by Reducing Import Dependence of Oil Products -- 6.Implementation of Renewable Energy Sources as Strategic Direction for Development of Ukraine's Energy Sector -- 7.Formation of the Core Model of the Energy Consumption Management System of Production Systems -- 8.Protection of Landscape Infrastructure Under Conditions of Dynamic Influences -- 9.Decarbonization: Direction to the Sustainable Future in Industries -- 10.Development of Automated Environment Impact Monitoring System for Enterprise Efficiency Improvements in Transportation -- 11.Technological Overview and Perspectives of Wind Energy for Sustainable Maritime Transportation -- 12.Methodological Provisions of System Analysis in Researching the Problems of Involving Renewable Energy Sources in the Energy Balance of Ukraine -- Part III: Advance in Alternative Motor Fuels Technology and Energy Saving Technologies -- 13.Evolution of the Quality of Jet Fuels: Ukrainian Comparative Review From Traditional to Sustainable Aviation Fuels -- 14.Innovations in Oil Products Remediation -- 15.Non-Destructive Test Method for Diagnosing Turn-to-turn Circuits of Electric Motor Windings under Conditions of Local Reactive Power Compensation -- 16.Theoretical and Technical Aspects of Configuration of Primary Measuring Transducers of Power Consumption Modes. 330 $aThis book selectively defines the current state of technological development of the Ukrainian economy and the prospects for the deployment of energy-efficient technologies in the energy and transport spheres, in particular, in aviation. On the path of its socio-economic development, Ukraine has repeatedly passed through crisis moments that changed the scenarios and trends of the country's development. Today, Ukraine has to evaluate survival scenarios and, in extreme conditions, revise plans for the country's further development. The energy sector in Ukraine and the world exists in a dynamic environment and changes in response to internal and external challenges. Technological solutions for deploying the transition to clean renewable energy sources are already widely available in today's world and continue to develop rapidly. In Ukraine, the problem of energy transition is given special urgency and acuteness by the threat to energy security. The state of Ukraine's traditional energy industry determines the need to reach a modern technological level with the use of innovative renewable technologies for energy production. Increasing the level of domestic energy efficiency will contribute to the diversification of energy supply of central and distributed energy generating systems, which will ensure the creation of a low-carbon national economy and increase the role of domestic energy in the system of international cooperation, including access to international markets of energy goods and services. The book is composed of 16 chapters in total. All chapters presented by the authors (co-authors) are published in the author?s edition and aim to present an issue on how to achieve more sustainable and more environmentally safe development of the modern transport and energy sector. The contributions of the authors and reviewers in the preparation of this book are sincerely appreciated. 410 0$aStudies in Systems, Decision and Control,$x2198-4190 ;$v574 606 $aComputational intelligence 606 $aElectric power production 606 $aTransportation engineering 606 $aTraffic engineering 606 $aComputational Intelligence 606 $aElectrical Power Engineering 606 $aTransportation Technology and Traffic Engineering 615 0$aComputational intelligence. 615 0$aElectric power production. 615 0$aTransportation engineering. 615 0$aTraffic engineering. 615 14$aComputational Intelligence. 615 24$aElectrical Power Engineering. 615 24$aTransportation Technology and Traffic Engineering. 676 $a333.791309477 700 $aBoichenko$b Sergii$01453424 701 $aZaporozhets$b Artur$01437508 701 $aShkilniuk$b Iryna$01453426 701 $aYakovlieva$b Anna$01453425 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910921011703321 996 $aModern Technologies in Energy and Transport II$94308375 997 $aUNINA