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Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints / / Michael Kumhof, Huixin Bi
| Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints / / Michael Kumhof, Huixin Bi |
| Autore | Kumhof Michael |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
| Descrizione fisica | 39 p |
| Altri autori (Persone) | BiHuixin |
| Collana | IMF Working Papers |
| Soggetto topico |
Fiscal policy
Economic policy Labor Macroeconomics Public Finance Fiscal Policy Taxation, Subsidies, and Revenue: General Macroeconomics: Consumption Saving Wealth Demand and Supply of Labor: General Public finance & taxation Labour income economics Revenue administration Consumption Fiscal rules Labor supply Revenue Economics Labor market |
| ISBN |
1-4623-5071-2
1-4518-7431-6 1-4527-2886-0 9786612844737 1-282-84473-3 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Record Nr. | UNINA-9910788221203321 |
Kumhof Michael
|
||
| Washington, D.C. : , : International Monetary Fund, , 2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints / / Michael Kumhof, Huixin Bi
| Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints / / Michael Kumhof, Huixin Bi |
| Autore | Kumhof Michael |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
| Descrizione fisica | 39 p |
| Disciplina | 336.3 |
| Altri autori (Persone) | BiHuixin |
| Collana | IMF Working Papers |
| Soggetto topico |
Fiscal policy
Economic policy Labor Macroeconomics Public Finance Fiscal Policy Taxation, Subsidies, and Revenue: General Macroeconomics: Consumption Saving Wealth Demand and Supply of Labor: General Public finance & taxation Labour income economics Revenue administration Consumption Fiscal rules Labor supply Revenue Economics Labor market |
| ISBN |
1-4623-5071-2
1-4518-7431-6 1-4527-2886-0 9786612844737 1-282-84473-3 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto | Intro -- Contents -- I. Introduction -- II. The Model -- A. Infinitely-Lived Households -- B. Borrowing-Constrained Households -- C. Firms -- D. Government -- 1. Monetary Policy -- 2. Budget Constraint -- 3. Fiscal Policy -- E. Competitive Equilibrium -- F. Aggregate Welfare -- III. Calibration -- IV. Results -- A. Impulse Responses -- 1. Fiscal Policy Rule Parameters -- 2. Monetary Policy Rule Parameters -- B. Welfare under Different Shocks -- C. Welfare and Volatility -- 1. Welfare and Volatility of Policy Instruments -- 2. Efficiency Frontiers -- 3. Alternative Fiscal Instruments -- 4. Alternative Fiscal Rules -- 5. Comparison with the Canonical Infinite-Horizon Case -- V. Conclusion -- References -- Tables -- 1. Moments of the Data and the Model -- Figures -- 1. Positive Technology Shock, Different dtax -- 2. Negative Investment Shock, Different dtax -- 3. Positive Consumption Shock, Different dtax -- 4. Positive Technology Shock, Different dpie -- 5. Positive Technology Shock, Different dpie, No Liquidity-Constrained Agents . -- 6. Positive Technology Shock, Different di -- 7. Welfare - Technology Shock -- 8. Welfare - Investment Shock -- 9. Welfare - Consumption Shock -- 10. Welfare - All Shocks -- 11. Welfare and Policy Instrument Volatility -- 12. Welfare-Fiscal Volatility Efficiency Frontier -- 13. Welfare Comparison across Fiscal Instruments -- 14. 100 Percent Infinitely-Lived Agents - Welfare - 2 Dimensional -- 15. 100 Percent Infinitely-Lived Agents - Welfare - 1 Dimensional. |
| Record Nr. | UNINA-9910829093203321 |
|
Kumhof Michael
|
||
| Washington, D.C. : , : International Monetary Fund, , 2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||