Download or read book Useful Government Spending Direct Crowding Out and Fiscal Policy Interdependence written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Economics of the University of Warwick presents the full text of the research paper entitled "Useful Government Spending, Direct Crowding-Out and Fiscal Policy Interdependence," by Giovanni Ganelli that was published in January 2000. The paper is in PDF format. Ganelli discusses private and public consumption in a dynamic, open economy with imperfect competition and normal rigidities. The author offers an economic model in which government expenditure affects utility. Results show that the introduction of useful government spending tends to reduce consumption following domestic and foreign permanent expansions.
Download or read book Useful Government Spending Direct Crowding out and Fiscal Policy Interdependence written by Giovanni Ganelli and published by . This book was released on 2000 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Does Fiscal Policy Matter written by Alan S. Blinder and published by . This book was released on 1972 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Download or read book International Aspects of Fiscal Policies written by Jacob A. Frenkel and published by University of Chicago Press. This book was released on 2007-12-01 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together nine papers from a conference on international macroeconomics sponsored by the NBER in 1985. International economists as well as graduate students in the fields of global monetary economics, finance, and macroeconomics will find this an outstanding contribution to current research. It includes two commentaries for each paper, written by experts in the field, and Frenkel's detailed introduction, which serves as a reader's guide to the arguments made, the models employed, and the issues raised by each contributor. The studies analyze national fiscal policies within the context of the international economic order. Malcolm D. Knight and Paul R. Masson use an empirical model to show that fiscal changes in recent years in the United States, West Germany, and Japan have caused major disturbances in net savings and investment flows. Linda S. Kole uses a two-country simulation model to examine the effects of a large nation's expansion on exchange rates, interest rates, and the balance of payments. In other studies, Warwick J. McKibbin and Jeffrey D. Sachs discuss the influences of different currency regimes on the international transmission of inflation; Kent P. Kimbrough analyzes the interaction between optimal tax policies and international trade; Sweder van Wijnbergen investigates the interrelation of fiscal policies, trade intervention, and world interest rates; and Willem H. Buiter uses an analytical model to look at fiscal interdependence and optimal policy design. David Backus, Michael Devereux, and Douglas Purvis develop a theoretical model to investigate effects of different fiscal policies in an open economy. Alan C. Stockman looks at the influence of policy anticipation in the private sector, while Lawrence H. Summers shows the effects of differential tax policy on international competitiveness.
Download or read book Economic Policy in Theory and Practice written by Assaf Razin and published by Springer. This book was released on 1987-03-02 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Policy and Management in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-02-15 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
Download or read book Public Spending Management and Macroeconomic Interdependence written by Giovanni Ganelli and published by International Monetary Fund. This book was released on 2004-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies, in the context of a New Open Economy Macroeconomics (NOEM) model, the effects of "public competition policies" aimed at improving the efficiency of public spending. Such measures are modeled as an increase in the price elasticity of public consumption. The paper finds that public competition policies significantly affect macroeconomic interdependence across countries. Following a domestic fiscal expansion, an higher public price elasticity increases the substitutability between goods purchased by the domestic and the foreign governments. The same exchange rate variation can therefore sustain larger shifts in relative demand for goods. The expenditure-switching effect is magnified, implying a larger change in relative output. In welfare terms, countries with a larger government sector have an incentive to promote public competition policies.
Download or read book Fundamental Determinants of the Effects of Fiscal Policy written by Dennis Petrus Johannes Botman and published by International Monetary Fund. This book was released on 2006 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings.
Download or read book Public Investment Efficiency and Sectoral Economic Growth in Pakistan written by Ahmed, Qazi Masood and published by Intl Food Policy Res Inst. This book was released on with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compares the effects of aggregate and sectoral public investments on sectoral private investment, output, and employment. We estimate the elasticities of private investment with respect to aggregate and sectoral public investments to find crowding-out or crowding-in phenomena in Pakistan. The study also reveals the changes in labor absorption or replacement due to additional capital and the effects on output. Our data covers eight sectors of the Pakistan economy and uses annual time series data from 1964 to 2011. This study uses vector autoregressive (VAR) techniques, as applied by Pereira (2000, 2001), which allows measuring the dynamic feedback effects among the variables.
Download or read book Fiscal Indicators written by Banca d'Italia. Servizio studi and published by . This book was released on 2006 with total page 1172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of International Money and Finance written by and published by . This book was released on 2003 with total page 1182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Earlier place of publication varies.
Download or read book Fiscal Sustainability written by and published by . This book was released on 2000 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dynamic General Equilibrium Analysis written by Giovanni Ganelli and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Sustainability written by Banca d'Italia and published by . This book was released on 2008 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book IMF Research Bulletin written by and published by . This book was released on 2004 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
