Fundamental Determinants of the Effects of Fiscal Policy / Manmohan Kumar, Dennis Botman.

Format:

Book

Government document

Author/Creator:

Kumar, Manmohan.

Contributor:

Botman, Dennis.

International Monetary Fund. Fiscal Affairs Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/072

IMF Working Papers

Language:

English

Subjects (All):

Fiscal policy--Econometric models.

Fiscal policy.

Economic policy--Econometric models.

Economic policy.

Physical Description:

1 online resource (48 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

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.

Contents:

""Contents""; ""I. INTRODUCTION""; ""II. KEY FEATURES OF THE GLOBAL FISCAL MODEL""; ""III. CALIBRATING THE MODEL""; ""IV. THE MACROECONOMIC EFFECTS OF GOVERNMENT DEBT""; ""V. GOVERNMENT SPENDING SHOCKS AND PRIVATE CONSUMPTION ""; ""VI. TAX DISTORTIONS AND THE BENEFITS OF TAX REFORM""; ""VII. THE EFFECTS OF PRIVATIZING RETIREMENT SAVING""; ""VIII. CONCLUDING REMARKS""; ""References""

Notes:

"March 2006."

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613827876

9781462302390

1462302394

9781452720890

1452720894

9781283515429

1283515423

9781451908688

1451908687

OCLC:

694141229