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Monetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia / / Enrique Flores, Daniel Leigh, Benedict Clements



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Autore: Flores Enrique Visualizza persona
Titolo: Monetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia / / Enrique Flores, Daniel Leigh, Benedict Clements Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica: 1 online resource (19 p.)
Soggetto topico: Debts, External - Colombia
Fiscal policy - Colombia
Investments: General
Macroeconomics
Public Finance
Fiscal Policy
Taxation, Subsidies, and Revenue: General
Investment
Capital
Intangible Capital
Capacity
Comparative or Joint Analysis of Fiscal and Monetary Policy
Stabilization
Treasury Policy
Public finance & taxation
Fiscal policy
Fiscal stance
Revenue administration
Return on investment
Automatic stabilizers
Revenue
Saving and investment
Soggetto geografico: Colombia
Altri autori: LeighDaniel  
ClementsBenedict  
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 that the potential role of fiscal policy in responding to shocks depends critically on financing conditions.
Titolo autorizzato: Monetary and Fiscal Policy Options for Dealing with External Shocks - Insights from the GIMF for Colombia  Visualizza cluster
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.: 9910788338503321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/059