Post-Crisis Recovery : : When Does Increased Fiscal Discipline Work? / / Pritha Mitra

• Autore: Mitra Pritha
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (45 p.)
• Soggetto topico: Financial crises - Developing countries - Econometric models; Fiscal policy - Developing countries - Econometric models; Banks; Collateral; Debt Management; Debt; Debts, Public; Depository Institutions; Finance; Financial institutions; Fiscal Policy; Fiscal policy; General Aggregative Models: General; Income economics; Industries: Financial Services; Labor economics; Labor Economics: General; Labor; Labour; Loans; Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation; Macroeconomics; Micro Finance Institutions; Mortgages; Open Economy Macroeconomics; Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data); Public debt; Public finance & taxation; Public Finance; Revenue administration; Revenue; Sovereign Debt; Taxation, Subsidies, and Revenue: General
• Soggetto geografico: Korea, Republic of
• Note generali: "September 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""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""
• Sommario/riassunto: Emerging 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.
• Titolo autorizzato: Post-Crisis Recovery
• ISBN: 1-4623-7805-6; 1-4527-6729-7; 1-283-51291-2; 1-4519-0932-2; 9786613825360
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910826086003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/219