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“Monetary and Fiscal Rules in an Emerging Small Open Economy” / / Paul Levine, Joseph Pearlman, Nicoletta Batini
“Monetary and Fiscal Rules in an Emerging Small Open Economy” / / Paul Levine, Joseph Pearlman, Nicoletta Batini
Autore Levine Paul
Edizione [1st ed.]
Pubbl/distr/stampa Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica 1 online resource (80 p.)
Disciplina 332.4;332.41
Altri autori (Persone) PearlmanJoseph
BatiniNicoletta
Collana IMF Working Papers
Soggetto topico Monetary policy - Developing countries
Fiscal policy - Developing countries
Banks and Banking
Macroeconomics
Money and Monetary Policy
Public Finance
Fiscal Policy
Macroeconomics: Consumption
Saving
Wealth
Interest Rates: Determination, Term Structure, and Effects
Monetary Systems
Standards
Regimes
Government and the Monetary System
Payment Systems
Finance
Monetary economics
Consumption
Fiscal policy
Fiscal rules
Zero lower bound
Currencies
Economics
Interest rates
Money
ISBN 1-4623-0936-4
1-4527-1173-9
1-4518-7169-4
1-282-84244-7
9786612842443
Formato Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione eng
Nota di contenuto Contents; I. Introduction; II. The Model; A. Households; B. Firms; C. The Government Budget Constraint and Foreign Asset Accumulation; D. The Equilibrium; E. Specialization of the Household's Utility Function; F. State Space Representation; G. The Small Open Economy; H. Calibration; III. Monetary Policy Interest Rate Rules; IV. Fiscal Rules; A. A Conventional Fiscal Rule; B. The Structural Fiscal Surplus Rule; V. Imposing the Nominal Interest Rate Zero Lower Bound; VI. Optimal Monetary and Fiscal Policy with Financial Frictions; A. Imposing the ZLB; Figures; 1. Imposition of ZLB: Model I
2. Imposition of ZLB: Model IIIB. Welfare Decomposition; C. Impulse Responses; 3. Impulse Responses to a-1 Percent Technology Shock. Models I, II, and III; VII. The Performance of Optimized Simple Rules; 4. Imposition of ZLB: Flex(D)+Conventional Fiscal Rule, Model I; 5. Imposition of ZLB: Flex(D)+Conventional Fiscal Rule: Model III; VIII. Conclusions; Tables; 1. Notation for Prices; 2. Welfare Outcomes Under Optimal Policy: No ZLB Constraint; 3. Optimal Policy with a ZLB Constraint: Monetary Policy Only for Model I
4. Optimal Commitment with a ZLB Constraint. Monetary Plus Fiscal Policy for Model I5. Welfare Outcomes Under Optimal Policy: ZLB Constraint; 6. Welfare Decomposition of Shocks; 7. Welfare Outcomes Under Optimized Simple Rules: FLEX (D) with a Conventional Fiscal Rule. Models I, II and III; 8. Welfare Outcomes Under Optimized Simple Rules: FIX with a Conventional Fiscal Rule. Models I, II and III; 9. Welfare Outcomes Under Optimized Simple Rules: FLEX(C) with a Conventional Fiscal Rule. Models I, II and III
10. Welfare Outcomes Under Optimized Simple Rules: FLEX(D) with a Modified SFSR. Models I, II and IIIAppendixes; 1. The Steady State; 2. Linearization; 3. Calibration and Estimation; 4. Quadratic Approximation of the Welfare Loss
Record Nr. UNINA-9910825602303321
Levine Paul  
Washington, D.C. : , : International Monetary Fund, , 2009
Materiale a stampa
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