Monetary and fiscal policy options for dealing with external shocks [[electronic resource] ] : insights from the GIMF for Colombia / / prepared by Benedict Clements, Enrique Flores, and Daniel Leigh

• Autore: Clements Benedict J
• Pubblicazione: [Washington D.C.], : International Monetary Fund, 2009
• Descrizione fisica: 1 online resource (19 p.)
• Soggetto topico: Debts, External - Colombia; Fiscal policy - Colombia
• Soggetto genere / forma: Electronic books.
• Altri autori: LeighDaniel FloresEnrique
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: CONTENTS; 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 ; 5. Macroeconomic Response to a Decline in the Demand for Colombian Exports under a Prolonged Financing ShockReferences
• Sommario/riassunto: This 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 th
• Titolo autorizzato: Monetary and fiscal policy options for dealing with external shocks
• ISBN: 1-4623-2853-9; 1-4527-9447-2; 1-4518-7206-2; 9786612842801; 1-282-84280-3
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910464064903321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/09/59.