Fiscal and Monetary Policy During Downturns : : Evidence From the G7 / / Sven Jari Stehn, Daniel Leigh |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica | 1 online resource (23 p.) |
Altri autori (Persone) | LeighDaniel |
Collana | IMF Working Papers |
Soggetto topico |
Fiscal policy
Monetary policy Macroeconomics Public Finance Production and Operations Management Fiscal Policy Comparative or Joint Analysis of Fiscal and Monetary Policy Stabilization Treasury Policy National Government Expenditures and Related Policies: General Macroeconomics: Production Public finance & taxation Fiscal stance Fiscal stimulus Output gap Current spending Production Expenditure Economic theory Expenditures, Public |
ISBN |
1-4623-1542-9
1-4527-0668-9 1-4518-7198-8 9786612842726 1-282-84272-2 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction and Summary; II. Event-Study Analysis; A. Data and Methodology; B. Results; Tables; 1. How Often and Quickly did Fiscal Stimulus Arriva During Downturns?; III. Vector-Autoregression (VAR) Analysis; A. Methodology; 2. How Often and Quickly did Fiscal Stimulus Arrive During Upturns?; B. Baseline Results; Figures; 1. How Strongly do Fiscal and Monetary Policy Respond?; 2. How does the Response Vary Across Fiscal Instruments and G7 Members?; 3. How Robust is the Response to the Cyclical Indicator?; C. Asymmetry; 4. Is There a Bias Towards Easing in Downturn?
D. Policy in Real Time5. Errors in Identifying Negative Growth in the G7; 3. How Reliable are Preliminary Growth Estimates?; 6. Has Policy Erroneously Responded to Perceived Growth Shocks?; IV. Case Study: Have U.S. Tax Cuts Been Timely and Temporary?; V. Conclusion; 4. Legislated Tax Changes During Downturns; 5. Summary of Countercyclical Tax Changes; References |
Record Nr. | UNINA-9910788339003321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Fiscal and Monetary Policy During Downturns : : Evidence From the G7 / / Sven Jari Stehn, Daniel Leigh |
Autore | Stehn Sven Jari |
Edizione | [1st ed.] |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica | 1 online resource (23 p.) |
Disciplina | 338.283945 |
Altri autori (Persone) | LeighDaniel |
Collana | IMF Working Papers |
Soggetto topico |
Fiscal policy
Monetary policy Macroeconomics Public Finance Production and Operations Management Fiscal Policy Comparative or Joint Analysis of Fiscal and Monetary Policy Stabilization Treasury Policy National Government Expenditures and Related Policies: General Macroeconomics: Production Public finance & taxation Fiscal stance Fiscal stimulus Output gap Current spending Production Expenditure Economic theory Expenditures, Public |
ISBN |
1-4623-1542-9
1-4527-0668-9 1-4518-7198-8 9786612842726 1-282-84272-2 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction and Summary; II. Event-Study Analysis; A. Data and Methodology; B. Results; Tables; 1. How Often and Quickly did Fiscal Stimulus Arriva During Downturns?; III. Vector-Autoregression (VAR) Analysis; A. Methodology; 2. How Often and Quickly did Fiscal Stimulus Arrive During Upturns?; B. Baseline Results; Figures; 1. How Strongly do Fiscal and Monetary Policy Respond?; 2. How does the Response Vary Across Fiscal Instruments and G7 Members?; 3. How Robust is the Response to the Cyclical Indicator?; C. Asymmetry; 4. Is There a Bias Towards Easing in Downturn?
D. Policy in Real Time5. Errors in Identifying Negative Growth in the G7; 3. How Reliable are Preliminary Growth Estimates?; 6. Has Policy Erroneously Responded to Perceived Growth Shocks?; IV. Case Study: Have U.S. Tax Cuts Been Timely and Temporary?; V. Conclusion; 4. Legislated Tax Changes During Downturns; 5. Summary of Countercyclical Tax Changes; References |
Record Nr. | UNINA-9910817533303321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Fiscal incentive effects of the German equalization system [[electronic resource] /] / prepared by Sven Jari Stehn and Annalisa Fedelino |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | [Washington D.C.], : International Monetary Fund, 2009 |
Descrizione fisica | 1 online resource (31 p.) |
Altri autori (Persone) | FedelinoAnnalisa |
Collana | IMF working paper |
Soggetto topico |
Intergovernmental fiscal relations - Germany
Fiscal policy - Germany |
Soggetto genere / forma | Electronic books. |
ISBN |
1-4623-6989-8
1-4527-6116-7 1-282-84338-9 1-4518-7271-2 9786612843389 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; II. Fiscal Discipline and Fiscal Transfers: A Difficult Nexus; Figures; 1. Subnational Shares in Total Spending and Revenue, 2006; 2. Comparative Composition of Subnational Revenue; A. Germany's Transfer System; 3. Net Contributing and Net Receiving Länder; 4. Evolution of the Transfer System; B. Potential Implications of Transfers; 5. Debt by Government Level; 6: Länder Debt; III. Framework, Methodology, and Data; A. The Inter-Temporal Budget Constraint; B. Cyclicality; C. Data; IV. Empirical Analysis; Tables; 1. Germany: Descriptive Statistics, 1985-2007
A. Univariate Analysis: Fiscal Reaction Functions2. Fiscal Behavior of the Old Länder, 1985-2007; 3. Behavior of Primary Expenditure for Länder, 1985-2007; 4. Robustness Check I: Behavior of Primary Expenditure for Länder, 1985-2007; B. Multivariate Analysis: VARs; 5. Robustness Check II: Behavior of Primary Expenditure; 7. Länder Behavior and Average Received Transfers, 1985-2007; 8. Output Gap Shock; V. Policy Implications and Conclusions; 9. Primary Spending Shock; Appendix I; Appendix Table 6: Unit root tests; References |
Record Nr. | UNINA-9910464004003321 |
Stehn Sven Jari | ||
[Washington D.C.], : International Monetary Fund, 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Fiscal Incentive Effects of the German Equalization System / / Sven Jari Stehn, Annalisa Fedelino |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica | 1 online resource (31 p.) |
Altri autori (Persone) | FedelinoAnnalisa |
Collana | IMF Working Papers |
Soggetto topico |
Intergovernmental fiscal relations - Germany
Fiscal policy - Germany Macroeconomics Public Finance Production and Operations Management Fiscal Policy National Government Expenditures and Related Policies: General Macroeconomics: Production Taxation, Subsidies, and Revenue: General Public finance & taxation Expenditure Fiscal policy Output gap Fiscal sustainability Revenue administration Expenditures, Public Production Economic theory Revenue |
ISBN |
1-4623-6989-8
1-4527-6116-7 1-282-84338-9 1-4518-7271-2 9786612843389 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; II. Fiscal Discipline and Fiscal Transfers: A Difficult Nexus; Figures; 1. Subnational Shares in Total Spending and Revenue, 2006; 2. Comparative Composition of Subnational Revenue; A. Germany's Transfer System; 3. Net Contributing and Net Receiving Länder; 4. Evolution of the Transfer System; B. Potential Implications of Transfers; 5. Debt by Government Level; 6: Länder Debt; III. Framework, Methodology, and Data; A. The Inter-Temporal Budget Constraint; B. Cyclicality; C. Data; IV. Empirical Analysis; Tables; 1. Germany: Descriptive Statistics, 1985-2007
A. Univariate Analysis: Fiscal Reaction Functions2. Fiscal Behavior of the Old Länder, 1985-2007; 3. Behavior of Primary Expenditure for Länder, 1985-2007; 4. Robustness Check I: Behavior of Primary Expenditure for Länder, 1985-2007; B. Multivariate Analysis: VARs; 5. Robustness Check II: Behavior of Primary Expenditure; 7. Länder Behavior and Average Received Transfers, 1985-2007; 8. Output Gap Shock; V. Policy Implications and Conclusions; 9. Primary Spending Shock; Appendix I; Appendix Table 6: Unit root tests; References |
Record Nr. | UNINA-9910788333503321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Fiscal Incentive Effects of the German Equalization System / / Sven Jari Stehn, Annalisa Fedelino |
Autore | Stehn Sven Jari |
Edizione | [1st ed.] |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica | 1 online resource (31 p.) |
Disciplina | 332.1/52 |
Altri autori (Persone) | FedelinoAnnalisa |
Collana | IMF Working Papers |
Soggetto topico |
Intergovernmental fiscal relations - Germany
Fiscal policy - Germany Macroeconomics Public Finance Production and Operations Management Fiscal Policy National Government Expenditures and Related Policies: General Macroeconomics: Production Taxation, Subsidies, and Revenue: General Public finance & taxation Expenditure Fiscal policy Output gap Fiscal sustainability Revenue administration Expenditures, Public Production Economic theory Revenue |
ISBN |
1-4623-6989-8
1-4527-6116-7 1-282-84338-9 1-4518-7271-2 9786612843389 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; II. Fiscal Discipline and Fiscal Transfers: A Difficult Nexus; Figures; 1. Subnational Shares in Total Spending and Revenue, 2006; 2. Comparative Composition of Subnational Revenue; A. Germany's Transfer System; 3. Net Contributing and Net Receiving Länder; 4. Evolution of the Transfer System; B. Potential Implications of Transfers; 5. Debt by Government Level; 6: Länder Debt; III. Framework, Methodology, and Data; A. The Inter-Temporal Budget Constraint; B. Cyclicality; C. Data; IV. Empirical Analysis; Tables; 1. Germany: Descriptive Statistics, 1985-2007
A. Univariate Analysis: Fiscal Reaction Functions2. Fiscal Behavior of the Old Länder, 1985-2007; 3. Behavior of Primary Expenditure for Länder, 1985-2007; 4. Robustness Check I: Behavior of Primary Expenditure for Länder, 1985-2007; B. Multivariate Analysis: VARs; 5. Robustness Check II: Behavior of Primary Expenditure; 7. Länder Behavior and Average Received Transfers, 1985-2007; 8. Output Gap Shock; V. Policy Implications and Conclusions; 9. Primary Spending Shock; Appendix I; Appendix Table 6: Unit root tests; References |
Record Nr. | UNINA-9910828557303321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Optimal monetary and fiscal policy with limited asset market participation [[electronic resource] /] / prepared by Sven Jari Stehn |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | [Washington D.C.], : International Monetary Fund, 2009 |
Descrizione fisica | 1 online resource (36 p.) |
Altri autori (Persone) | NovoaAlicia |
Collana | IMF working paper |
Soggetto topico |
Consumption (Economics) - Government policy
Fiscal policy |
Soggetto genere / forma | Electronic books. |
ISBN |
1-4623-3458-X
1-4527-5713-5 1-4518-7284-4 9786612843518 1-282-84351-6 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; II. The Baseline Model; A. Households; B. Firms and Price Setting; C. Fiscal Policy; D. Aggregation and Market Clearing; E. Steady State and Linearisation; III.Equilibrium, Calibration and Determinacy; A. Equilibrium; B. Calibration; C. Determinacy; IV.Optimal Policy; Figures; 1. Determinacy in the baseline model; A. Social Welfare; B. Optimal Monetary Policy with Exogenous Fiscal Policy; C. Jointly Optimal Monetary and Fiscal Policy; 2. Optimal feedback coeffcients for different values of; 3. Impulse responses to a persistent cost-push shock in the baseline model
V. Extensions A. CRRA Preferences; B. Targeted Transfers; 4. Impulse responses to a persistent cost-push shock with CRRA utility, targeted transfers and equal lump-sum tax financing; C. Alternative Financing Assumptions; 5. Impulse responses to a persistent cost-push shock with government debt. .; VI.Conclusion; Appendix; A. Derivation of the Baseline Model; B. Derivation of the Social Welfare Function; C. Solving for Optimal Policy; D. Extensions; E. The 'non-Keynesian' Case; 6. Determinacy for the 'non-Keynesian case; References |
Record Nr. | UNINA-9910463990803321 |
Stehn Sven Jari | ||
[Washington D.C.], : International Monetary Fund, 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Optimal Monetary and Fiscal Policy with Limited Asset Market Participation / / Sven Jari Stehn |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica | 1 online resource (36 p.) |
Collana | IMF Working Papers |
Soggetto topico |
Consumption (Economics) - Government policy
Fiscal policy Finance: General Labor Macroeconomics Public Finance National Government Expenditures and Related Policies: General Fiscal Policy Wages, Compensation, and Labor Costs: General General Financial Markets: General (includes Measurement and Data) Macroeconomics: Consumption Saving Wealth Public finance & taxation Labour income economics Finance Expenditure Real wages Securities markets Consumption Expenditures, Public Wages Capital market Economics |
ISBN |
1-4623-3458-X
1-4527-5713-5 1-4518-7284-4 9786612843518 1-282-84351-6 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; II. The Baseline Model; A. Households; B. Firms and Price Setting; C. Fiscal Policy; D. Aggregation and Market Clearing; E. Steady State and Linearisation; III.Equilibrium, Calibration and Determinacy; A. Equilibrium; B. Calibration; C. Determinacy; IV.Optimal Policy; Figures; 1. Determinacy in the baseline model; A. Social Welfare; B. Optimal Monetary Policy with Exogenous Fiscal Policy; C. Jointly Optimal Monetary and Fiscal Policy; 2. Optimal feedback coeffcients for different values of; 3. Impulse responses to a persistent cost-push shock in the baseline model
V. Extensions A. CRRA Preferences; B. Targeted Transfers; 4. Impulse responses to a persistent cost-push shock with CRRA utility, targeted transfers and equal lump-sum tax financing; C. Alternative Financing Assumptions; 5. Impulse responses to a persistent cost-push shock with government debt. .; VI.Conclusion; Appendix; A. Derivation of the Baseline Model; B. Derivation of the Social Welfare Function; C. Solving for Optimal Policy; D. Extensions; E. The 'non-Keynesian' Case; 6. Determinacy for the 'non-Keynesian case; References |
Record Nr. | UNINA-9910788332203321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Optimal Monetary and Fiscal Policy with Limited Asset Market Participation / / Sven Jari Stehn |
Autore | Stehn Sven Jari |
Edizione | [1st ed.] |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2009 |
Descrizione fisica | 1 online resource (36 p.) |
Disciplina | 658.8;658.834 |
Collana | IMF Working Papers |
Soggetto topico |
Consumption (Economics) - Government policy
Fiscal policy Finance: General Labor Macroeconomics Public Finance National Government Expenditures and Related Policies: General Fiscal Policy Wages, Compensation, and Labor Costs: General General Financial Markets: General (includes Measurement and Data) Macroeconomics: Consumption Saving Wealth Public finance & taxation Labour income economics Finance Expenditure Real wages Securities markets Consumption Expenditures, Public Wages Capital market Economics |
ISBN |
1-4623-3458-X
1-4527-5713-5 1-4518-7284-4 9786612843518 1-282-84351-6 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; II. The Baseline Model; A. Households; B. Firms and Price Setting; C. Fiscal Policy; D. Aggregation and Market Clearing; E. Steady State and Linearisation; III.Equilibrium, Calibration and Determinacy; A. Equilibrium; B. Calibration; C. Determinacy; IV.Optimal Policy; Figures; 1. Determinacy in the baseline model; A. Social Welfare; B. Optimal Monetary Policy with Exogenous Fiscal Policy; C. Jointly Optimal Monetary and Fiscal Policy; 2. Optimal feedback coeffcients for different values of; 3. Impulse responses to a persistent cost-push shock in the baseline model
V. Extensions A. CRRA Preferences; B. Targeted Transfers; 4. Impulse responses to a persistent cost-push shock with CRRA utility, targeted transfers and equal lump-sum tax financing; C. Alternative Financing Assumptions; 5. Impulse responses to a persistent cost-push shock with government debt. .; VI.Conclusion; Appendix; A. Derivation of the Baseline Model; B. Derivation of the Social Welfare Function; C. Solving for Optimal Policy; D. Extensions; E. The 'non-Keynesian' Case; 6. Determinacy for the 'non-Keynesian case; References |
Record Nr. | UNINA-9910812317503321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2009 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Strategic interactions between an independent central bank and a myopic government with government debt / / Sven Jari Stehn and David Vines |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | [Washington, District of Columbia] : , : International Monetary Fund, , 2008 |
Descrizione fisica | 1 online resource (40 p.) |
Disciplina | 336.39 |
Altri autori (Persone) | VinesDavid |
Collana |
IMF Working Papers
IMF working paper |
Soggetto topico |
Expenditures, Public - Econometric models
Fiscal policy - Econometric models Banks and banking, Central - Econometric models Debts, Public - Econometric models Monetary policy - Econometric models |
Soggetto genere / forma | Electronic books. |
ISBN |
1-4623-3158-0
9786612841156 1-282-84115-7 1-4519-8526-6 1-4518-7022-1 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto | Contents; I. Introduction; II. The Model; A. Consumers; B. Price Setting; C. Aggregate Demand and Fiscal Policy; D. The System; E. Social Welfare; F. Policy Objectives; G. Calibration; III.Solving for Optimal Policy; A. Cooperative Policy; B. Non-Cooperative Policy under Discretion; Tables; 1. Optimal policy simulations for a transitory cost-push shock; IV.Optimal Policy when Lump-Sum Taxes are Available; A. Cooperative Policy; 1. Commitment; Figures; 1. Dynamic responses to a transitory cost-push shock under optimal policy. .; 2. Discretion |
Record Nr. | UNINA-9910463590003321 |
Stehn Sven Jari | ||
[Washington, District of Columbia] : , : International Monetary Fund, , 2008 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt / / Sven Jari Stehn, David Vines |
Autore | Stehn Sven Jari |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2008 |
Descrizione fisica | 1 online resource (40 p.) |
Disciplina | 336.39 |
Altri autori (Persone) | VinesDavid |
Collana |
IMF Working Papers
IMF working paper |
Soggetto topico |
Expenditures, Public - Econometric models
Fiscal policy - Econometric models Banks and banking, Central - Econometric models Debts, Public - Econometric models Monetary policy - Econometric models Banks and Banking Inflation Public Finance Price Level Deflation National Government Expenditures and Related Policies: General Fiscal Policy Debt Debt Management Sovereign Debt Banks Depository Institutions Micro Finance Institutions Mortgages Macroeconomics Public finance & taxation Banking Expenditure Fiscal policy Public debt Prices Expenditures, Public Debts, Public Banks and banking |
ISBN |
1-4623-3158-0
9786612841156 1-282-84115-7 1-4519-8526-6 1-4518-7022-1 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto | Contents; I. Introduction; II. The Model; A. Consumers; B. Price Setting; C. Aggregate Demand and Fiscal Policy; D. The System; E. Social Welfare; F. Policy Objectives; G. Calibration; III.Solving for Optimal Policy; A. Cooperative Policy; B. Non-Cooperative Policy under Discretion; Tables; 1. Optimal policy simulations for a transitory cost-push shock; IV.Optimal Policy when Lump-Sum Taxes are Available; A. Cooperative Policy; 1. Commitment; Figures; 1. Dynamic responses to a transitory cost-push shock under optimal policy. .; 2. Discretion |
Record Nr. | UNINA-9910788234503321 |
Stehn Sven Jari | ||
Washington, D.C. : , : International Monetary Fund, , 2008 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|