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Macroeconomic and welfare costs of U.S. fiscal imbalances [[electronic resource] /] / prepared by Bertrand Gruss and José L. Torres
| Macroeconomic and welfare costs of U.S. fiscal imbalances [[electronic resource] /] / prepared by Bertrand Gruss and José L. Torres |
| Autore | Gruss Bertrand |
| Pubbl/distr/stampa | [Washington D.C.], : International Monetary Fund, [2012] |
| Descrizione fisica | 1 online resource (37 p.) |
| Altri autori (Persone) | TorresJosé L |
| Collana | IMF working paper |
| Soggetto topico |
Fiscal policy - United States
Balance of payments - United States |
| Soggetto genere / forma | Electronic books. |
| ISBN |
1-4639-8823-0
1-4639-5149-3 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Contents; I. Introduction; II. The Model; A. Preferences; B. Occupational Choice; C. Consumer's Problem; D. Entrepreneur's Problem and Financial Intermediation; E. The Government; F. Aggregates; G. Market Clearance; H. Timing of Events; I. Equilibrium; III. Calibration; IV. The Policy Experiments; A. The Delay Scenario; B. The Adjust Scenarios; V. Results; A. The Long-Run Effects; B. The Transitional Dynamics; C. Overall Welfare Cost of Delaying Fiscal Consolidation; VI. Conclutions; Tables; 1. Calibration
2. Non-Interest Expenditures from the U.S. Federal Government as a percentage of GDP (2007)3. Steady State Comparison; Figures; 1. Projections from CBO alternative scenario, Long Term Budget Outlook of 2011; 2. Primary expenditures in the delay and adjust scenarios; 3. Primary deficit in the delay scenario and CBO's forecasts; 4. CBO's Alternative Fiscal Scenario and the Bowles-Simpson Commission's plan; 4. Differences in the percentage of total wealth held by the top percentiles in the delay and passive adjust scenarios 5. Discounted sum of utility in steady state by wealth percentiles in delay and passive adjust scenarios6. Model Simulations-Fiscal Variables; 7. Model Simulations-Main Macroeconomic Variables; 8. Share of Entrepreneurs in Economy; 9. Present Discounted Sum of Utility by Deciles; References |
| Record Nr. | UNINA-9910452775403321 |
Gruss Bertrand
|
||
| [Washington D.C.], : International Monetary Fund, [2012] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Macroeconomic and Welfare Costs of U.S. Fiscal Imbalances / / Bertrand Gruss, Jose L. Torres
| Macroeconomic and Welfare Costs of U.S. Fiscal Imbalances / / Bertrand Gruss, Jose L. Torres |
| Autore | Gruss Bertrand |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Descrizione fisica | 1 online resource (37 p.) |
| Altri autori (Persone) | TorresJose L |
| Collana | IMF Working Papers |
| Soggetto topico |
Fiscal policy - United States
Balance of payments - United States Macroeconomics Public Finance Labor Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) Fiscal Policy Fiscal Policies and Behavior of Economic Agents: General Forecasts of Budgets, Deficits, and Debt Economic Growth and Aggregate Productivity: General Debt Debt Management Sovereign Debt Macroeconomics: Consumption Saving Wealth Labor Economics: General Labor Demand Public finance & taxation Labour income economics Public debt Fiscal consolidation Consumption Fiscal policy National accounts Self-employment Debts, Public Economics Labor economics Self-employed |
| ISBN |
1-4639-8823-0
1-4639-5149-3 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Contents; I. Introduction; II. The Model; A. Preferences; B. Occupational Choice; C. Consumer's Problem; D. Entrepreneur's Problem and Financial Intermediation; E. The Government; F. Aggregates; G. Market Clearance; H. Timing of Events; I. Equilibrium; III. Calibration; IV. The Policy Experiments; A. The Delay Scenario; B. The Adjust Scenarios; V. Results; A. The Long-Run Effects; B. The Transitional Dynamics; C. Overall Welfare Cost of Delaying Fiscal Consolidation; VI. Conclutions; Tables; 1. Calibration
2. Non-Interest Expenditures from the U.S. Federal Government as a percentage of GDP (2007)3. Steady State Comparison; Figures; 1. Projections from CBO alternative scenario, Long Term Budget Outlook of 2011; 2. Primary expenditures in the delay and adjust scenarios; 3. Primary deficit in the delay scenario and CBO's forecasts; 4. CBO's Alternative Fiscal Scenario and the Bowles-Simpson Commission's plan; 4. Differences in the percentage of total wealth held by the top percentiles in the delay and passive adjust scenarios 5. Discounted sum of utility in steady state by wealth percentiles in delay and passive adjust scenarios6. Model Simulations-Fiscal Variables; 7. Model Simulations-Main Macroeconomic Variables; 8. Share of Entrepreneurs in Economy; 9. Present Discounted Sum of Utility by Deciles; References |
| Record Nr. | UNINA-9910779224203321 |
|
Gruss Bertrand
|
||
| Washington, D.C. : , : International Monetary Fund, , 2012 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Macroeconomic and Welfare Costs of U.S. Fiscal Imbalances / / Bertrand Gruss, Jose L. Torres
| Macroeconomic and Welfare Costs of U.S. Fiscal Imbalances / / Bertrand Gruss, Jose L. Torres |
| Autore | Gruss Bertrand |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2012 |
| Descrizione fisica | 1 online resource (37 p.) |
| Disciplina | 332.1/52 |
| Altri autori (Persone) | TorresJose L |
| Collana | IMF Working Papers |
| Soggetto topico |
Fiscal policy - United States
Balance of payments - United States Macroeconomics Public Finance Labor Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) Fiscal Policy Fiscal Policies and Behavior of Economic Agents: General Forecasts of Budgets, Deficits, and Debt Economic Growth and Aggregate Productivity: General Debt Debt Management Sovereign Debt Macroeconomics: Consumption Saving Wealth Labor Economics: General Labor Demand Public finance & taxation Labour income economics Public debt Fiscal consolidation Consumption Fiscal policy National accounts Self-employment Debts, Public Economics Labor economics Self-employed |
| ISBN |
1-4639-8823-0
1-4639-5149-3 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover; Contents; I. Introduction; II. The Model; A. Preferences; B. Occupational Choice; C. Consumer's Problem; D. Entrepreneur's Problem and Financial Intermediation; E. The Government; F. Aggregates; G. Market Clearance; H. Timing of Events; I. Equilibrium; III. Calibration; IV. The Policy Experiments; A. The Delay Scenario; B. The Adjust Scenarios; V. Results; A. The Long-Run Effects; B. The Transitional Dynamics; C. Overall Welfare Cost of Delaying Fiscal Consolidation; VI. Conclutions; Tables; 1. Calibration
2. Non-Interest Expenditures from the U.S. Federal Government as a percentage of GDP (2007)3. Steady State Comparison; Figures; 1. Projections from CBO alternative scenario, Long Term Budget Outlook of 2011; 2. Primary expenditures in the delay and adjust scenarios; 3. Primary deficit in the delay scenario and CBO's forecasts; 4. CBO's Alternative Fiscal Scenario and the Bowles-Simpson Commission's plan; 4. Differences in the percentage of total wealth held by the top percentiles in the delay and passive adjust scenarios 5. Discounted sum of utility in steady state by wealth percentiles in delay and passive adjust scenarios6. Model Simulations-Fiscal Variables; 7. Model Simulations-Main Macroeconomic Variables; 8. Share of Entrepreneurs in Economy; 9. Present Discounted Sum of Utility by Deciles; References |
| Record Nr. | UNINA-9910819369903321 |
|
Gruss Bertrand
|
||
| Washington, D.C. : , : International Monetary Fund, , 2012 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
The volatility costs of procyclical lending standards [[electronic resource] ] : an assessment using a DSGE model / / prepared by Bertrand Gruss and Silvia Sgherri
| The volatility costs of procyclical lending standards [[electronic resource] ] : an assessment using a DSGE model / / prepared by Bertrand Gruss and Silvia Sgherri |
| Autore | Gruss Bertrand |
| Pubbl/distr/stampa | [Washington D.C.], : International Monetary Fund, 2009 |
| Descrizione fisica | 1 online resource (39 p.) |
| Disciplina | 338.9669 |
| Altri autori (Persone) | SgherriSilvia |
| Collana | IMF working paper |
| Soggetto topico |
Credit control - Mathematical models
Loans - Standards - Mathematical models |
| Soggetto genere / forma | Electronic books. |
| ISBN |
1-4623-4871-8
1-4527-4099-2 1-282-84257-9 1-4518-7182-1 9786612842573 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; I. Introduction; II. Empirical Evidence; III. The Model; A. Home economy; B. Foreign economy; C. Shocks; D. Equilibrium and solution method; IV. Calibration; V. Policy experiment: altering the cyclical pattern of lending standards; A. Benchmark leverage level; B. Alternative leverage levels; VI. Sensitivity analysis; VII. Conclusions; Appendix; References; Tables; 1. Results from Estimating an AR(1) Processes to Demeaned LTVs; 2. Benchmark Calibration; Figures; 1. Time Variation in Loan-To-Value Ratios; 2. Share of Output Variation Explained by Credit and Asset Price Shocks
3. Degree of Cyclicality in Credit Innovations 4. Procyclicality in Credit Innovations and Sensitivity of Credit to Asset Price Shocks; 5. Procyclicality in Credit Innovations and Macroeconomic Volatility; 6. Increasing Reliance of Emerging Europe on Foreign Funding; 7. Concentration of Emerging Europe Exposure to Western Europe; 3. Business Cycle Moments from Simulated Series under Benchmark Calibration; 4. Policy Exercise Results (Average LTV = 0.4); 5. Policy Exercise Results (Average LTV = 0.7); 8. IRFs to a Negative Productivity Shock under Alternative Leverage Levels 9. IRFs to a Negative Shock to Lending Standards under Alternative Leverage Levels10. Sensitivity of Volatility to Different Degrees of Cyclicality in Lending Standards Under Alternative Leverage Levels; 6. Sensitivity Analysis |
| Record Nr. | UNINA-9910464064003321 |
|
Gruss Bertrand
|
||
| [Washington D.C.], : International Monetary Fund, 2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||