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Author | : Farrokh K. Langdana |
Publisher | : Springer Science & Business Media |
Total Pages | : 299 |
Release | : 2013-03-09 |
Genre | : Business & Economics |
ISBN | : 1475736460 |
Download Macroeconomic Policy Book in PDF, ePub and Kindle
This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2010-05-01 |
Genre | : Business & Economics |
ISBN | : 1455200808 |
Download Fiscal Policy and the Current Account Book in PDF, ePub and Kindle
This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal balance by 1 percentage point of GDP is associated with a current account improvement of 0.2–0.3 percentage point of GDP. This association is as strong in emerging and low-income countries as it is in advanced economies; and significantly higher when output is above potential.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 1988-11-16 |
Genre | : Business & Economics |
ISBN | : 145194862X |
Download Fiscal Expansion and External Current Account Balance Book in PDF, ePub and Kindle
This paper analyzes, in a general equilibrium framework, how fiscal policy transmits its effects to the current account of the balance of payments. In discussing the role of fiscal policies in the Fund’s stabilization programs, the paper compares different approaches to explain the determination of the external balance. The model presented here is based on intertemporal optimization and focuses on the behavior of private and public agents. Some empirical evidence is also presented, based on data from ten Latin American countries. Finally, an appendix presents an integrated system of financial, external, and government accounts.
Author | : Mr.J. D. Pitchford |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 1992-07-01 |
Genre | : Business & Economics |
ISBN | : 1451847432 |
Download Current Account Deficits, External Liabilities and Economic Policy Book in PDF, ePub and Kindle
This paper assesses the policy significance of foreign liabilities and the current account deficits that give rise to them. Current account imbalances are shown to have some capacity to indicate difficulties elsewhere in the economy, but are imperfect indicators and subject to potential misinterpretation. The paper concludes that successful pursuit of internal balance could be an important factor in stabilizing current account balances, but, beyond that, there seems no good reason for using macroeconomic policy to target the current account as such. However, there may be grounds for microeconomic action to remedy specifically identified problems.
Author | : Mr.Michael Kumhof |
Publisher | : International Monetary Fund |
Total Pages | : 37 |
Release | : 2009-10-01 |
Genre | : Business & Economics |
ISBN | : 1451873840 |
Download Fiscal Deficits and Current Account Deficits Book in PDF, ePub and Kindle
The effectiveness of recent fiscal stimulus packages significantly depends on the assumption of non-Ricardian savings behavior. We show that, under the same assumption, fiscal deficits can have worrisome implications if they turn out to be permanent. First, if they occur in large countries they significantly raise the world real interest rate. Second, they cause a short run current account deterioration equal to around 50 percent of the fiscal deficit deterioration. Third, the longer run current account deterioration equals almost 75 percent for a large economy such as the United States, and almost 100 percent for a small open economy.
Author | : Klaas Knot |
Publisher | : Edward Elgar Publishing |
Total Pages | : 232 |
Release | : 1996-01-01 |
Genre | : Business & Economics |
ISBN | : 9781781959657 |
Download Fiscal Policy and Interest Rates in the European Union Book in PDF, ePub and Kindle
This is an extensive study concerned with the potential effects of fiscal policy on financial markets in the EU. It takes into account the gradual liberalization of capital movements through Western Europe & the framework of the European Monetary System.
Author | : |
Publisher | : |
Total Pages | : 0 |
Release | : 2010 |
Genre | : Balance of payments |
ISBN | : |
Download Fiscal Policy and the Current Account Book in PDF, ePub and Kindle
Author | : Mr.Yehenew Endegnanew |
Publisher | : International Monetary Fund |
Total Pages | : 27 |
Release | : 2012-02-01 |
Genre | : Business & Economics |
ISBN | : 1463937121 |
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This paper examines the empirical link between fiscal policy and the current account focusing on microstates defined as countries with a population of less than 2 million between 1970 and 2009. The paper employs panel regression and panel vector autoregression (VAR) on 155 countries of which 42 are microstates. Panel regression results show that a percentage point improvement in the fiscal balance improves the current account balance by 0.4 percentage points of GDP. The real effective exchange rate has no significant impact on the current account in microstates but the coefficient is significant in the global sample. Panel VAR results show that an increase in government consumption results in real exchange appreciation but the effect on the current account after an initial deterioration dies out quicker in microstates than in the global sample. The result implies that fiscal policy has little effect on the current account in microstates beyond its direct impact on imports. Overall, the results suggest that the weak relative price effects make the effect of fiscal adjustment on the current account much more difficult in microstates.
Author | : |
Publisher | : |
Total Pages | : 30 |
Release | : 2010 |
Genre | : Balance of payments |
ISBN | : |
Download Fiscal policy and the current account Book in PDF, ePub and Kindle
This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector auto-regressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal balance by 1 percentage point of GDP is associated with a current account improvement of 0.2-0.3 percentage point of GDP. This association is as strong in emerging and low-income countries as it is in advanced economies; and significantly higher when output is above potential.
Author | : Mr.Mario I. Bléjer |
Publisher | : International Monetary Fund |
Total Pages | : 404 |
Release | : 1989-06-15 |
Genre | : Business & Economics |
ISBN | : 9781557750341 |
Download Fiscal Policy, Stabilization, and Growth in Developing Countries Book in PDF, ePub and Kindle
Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.