Vai al contenuto principale della pagina
Autore: | Müller Gernot |
Titolo: | Fiscal Stimulus with Spending Reversals / / Gernot Müller, Giancarlo Corsetti, Andre Meier |
Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica: | 1 online resource (41 p.) |
Soggetto topico: | Expenditures, Public |
Fiscal policy | |
Banks and Banking | |
Foreign Exchange | |
Public Finance | |
National Government Expenditures and Related Policies: General | |
Interest Rates: Determination, Term Structure, and Effects | |
Fiscal Policy | |
Public finance & taxation | |
Finance | |
Currency | |
Foreign exchange | |
Macroeconomics | |
Expenditure | |
Real exchange rates | |
Real interest rates | |
Long term interest rates | |
Interest rates | |
Soggetto geografico: | United States |
Altri autori: | CorsettiGiancarlo MeierAndre |
Note generali: | Description based upon print version of record. |
Nota di bibliografia: | Includes bibliographical references. |
Nota di contenuto: | Contents; 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 |
A. 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 | |
A.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 | |
Sommario/riassunto: | The 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. |
Titolo autorizzato: | Fiscal Stimulus with Spending Reversals |
ISBN: | 1-4623-2954-3 |
1-4527-8336-5 | |
9786612843211 | |
1-282-84321-4 | |
1-4518-7253-4 | |
Formato: | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910788335603321 |
Lo trovi qui: | Univ. Federico II |
Opac: | Controlla la disponibilità qui |