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035   $a(OCoLC)469163928
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100   $a20020129d2009      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aMonetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia /$fEnrique Flores, Daniel Leigh, Benedict Clements
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2009.
215   $a1 online resource (19 p.)
225 1 $aIMF Working Papers
300   $aDescription based upon print version of record.
311 08$a9781451916416 
311 08$a1451916418 
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 Papers; Working Paper ;$vNo. 2009/059
606   $aDebts, External$zColombia
606   $aFiscal policy$zColombia
606   $aAutomatic stabilizers$2imf
606   $aCapacity$2imf
606   $aCapital$2imf
606   $aComparative or Joint Analysis of Fiscal and Monetary Policy$2imf
606   $aFiscal Policy$2imf
606   $aFiscal policy$2imf
606   $aFiscal stance$2imf
606   $aIntangible Capital$2imf
606   $aInvestment$2imf
606   $aInvestments: General$2imf
606   $aMacroeconomics$2imf
606   $aPublic finance & taxation$2imf
606   $aPublic Finance$2imf
606   $aReturn on investment$2imf
606   $aRevenue administration$2imf
606   $aRevenue$2imf
606   $aSaving and investment$2imf
606   $aStabilization$2imf
606   $aTaxation, Subsidies, and Revenue: General$2imf
606   $aTreasury Policy$2imf
607   $aColombia$2imf
615  0$aDebts, External
615  0$aFiscal policy
615  7$aAutomatic stabilizers
615  7$aCapacity
615  7$aCapital
615  7$aComparative or Joint Analysis of Fiscal and Monetary Policy
615  7$aFiscal Policy
615  7$aFiscal policy
615  7$aFiscal stance
615  7$aIntangible Capital
615  7$aInvestment
615  7$aInvestments: General
615  7$aMacroeconomics
615  7$aPublic finance & taxation
615  7$aPublic Finance
615  7$aReturn on investment
615  7$aRevenue administration
615  7$aRevenue
615  7$aSaving and investment
615  7$aStabilization
615  7$aTaxation, Subsidies, and Revenue: General
615  7$aTreasury Policy
676   $a332.152
700   $aFlores$b Enrique$01816600
701   $aClements$b Benedict$0122914
701   $aLeigh$b Daniel$01815832
801  0$bDcWaIMF
906   $aBOOK
912   $a9910960082003321
996   $aMonetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia$94372830
997   $aUNINA