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Fiscal and Monetary Policy During Downturns : : Evidence From the G7 / / Sven Jari Stehn, Daniel Leigh
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
Opac: Controlla la disponibilità qui
Fiscal and Monetary Policy During Downturns : : Evidence From the G7 / / Sven Jari Stehn, Daniel Leigh
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
Opac: Controlla la disponibilità qui
Fiscal incentive effects of the German equalization system [[electronic resource] /] / prepared by Sven Jari Stehn and Annalisa Fedelino
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
Opac: Controlla la disponibilità qui
Fiscal Incentive Effects of the German Equalization System / / Sven Jari Stehn, Annalisa Fedelino
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
Opac: Controlla la disponibilità qui
Fiscal Incentive Effects of the German Equalization System / / Sven Jari Stehn, Annalisa Fedelino
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
Opac: Controlla la disponibilità qui
Optimal monetary and fiscal policy with limited asset market participation [[electronic resource] /] / prepared by Sven Jari Stehn
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
Opac: Controlla la disponibilità qui
Optimal Monetary and Fiscal Policy with Limited Asset Market Participation / / Sven Jari Stehn
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
Opac: Controlla la disponibilità qui
Optimal Monetary and Fiscal Policy with Limited Asset Market Participation / / Sven Jari Stehn
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
Opac: Controlla la disponibilità qui
Strategic interactions between an independent central bank and a myopic government with government debt / / Sven Jari Stehn and David Vines
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
Opac: Controlla la disponibilità qui
Strategic Interactions between an Independent Central Bank and a Myopic Government with Government Debt / / Sven Jari Stehn, David Vines
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
Opac: Controlla la disponibilità qui