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Author : Kye-Sik Lee
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book Crowding Out and Efficacy of Fiscal Policy in Korea written by Kye-Sik Lee and published by . This book was released on 1988 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Leif Lybecker Eskesen
Publisher : International Monetary Fund
ISBN 13 : 1451873964
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)
Download or read book Countering the Cycle—The Effectiveness of Fiscal Policy in Korea written by Mr.Leif Lybecker Eskesen and published by International Monetary Fund. This book was released on 2009-11-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Korean authorities having taken decisive and proactive fiscal measures to help stem the fallout from the current global economic and financial crisis, with the size of the fiscal stimulus well-above the average response of other G20 economies. In this context, a key question is how effective fiscal policy is as a stabilization tool, especially considering the high openness of Korea's economy. Results based on a macroeconomic model calibrated for Korea provide a strong case for using counter-cyclical fiscal policy, especially if measures appropriately focus on spending with a direct demand impact such as investment and targeted transfers. It also demonstrates the importance a complementary monetary response and the benefits to an open economy such as Korea's of global coordination of fiscal stimulus.
Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author :
Publisher :
ISBN 13 :
Total Pages : 496 pages
Book Rating : 4.:/5 (318 download)
Download or read book Seoul Journal of Economics written by and published by . This book was released on 1988 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
ISBN 13 : 0821396315
Total Pages : 285 pages
Book Rating : 4.8/5 (213 download)
Download or read book Is Fiscal Policy the Answer? written by Blanca Moreno-Dodson and published by World Bank Publications. This book was released on 2012-11-15 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.
Author : Mr.Abdul Abiad
Publisher : International Monetary Fund
ISBN 13 : 1484361555
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Macroeconomic Effects of Public Investment written by Mr.Abdul Abiad and published by International Monetary Fund. This book was released on 2015-05-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
Author : Takatoshi Ito
Publisher : University of Chicago Press
ISBN 13 : 0226387062
Total Pages : 471 pages
Book Rating : 4.2/5 (263 download)
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.
Author : Anis Chowdhury
Publisher : Routledge
ISBN 13 : 1134861397
Total Pages : 303 pages
Book Rating : 4.1/5 (348 download)
Download or read book The Newly Industrializing Economies of East Asia written by Anis Chowdhury and published by Routledge. This book was released on 2005-08-09 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a careful synthesis of a vast and disparate literature and makes it accessible to student readership. Points to the need to take a closer look at the future evolution of the East Asian NIEs in an era of democratisation.
Author : Guillermo E. Perry
Publisher : World Bank Publications
ISBN 13 : 0821370855
Total Pages : 354 pages
Book Rating : 4.8/5 (213 download)
Download or read book Fiscal Policy, Stabilization, and Growth written by Guillermo E. Perry and published by World Bank Publications. This book was released on 2007-10-19 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
Author :
Publisher :
ISBN 13 :
Total Pages : 382 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Journal of the Korean Economy written by and published by . This book was released on 2001 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jaejoon Woo
Publisher : International Monetary Fund
ISBN 13 : 145520157X
Total Pages : 49 pages
Book Rating : 4.4/5 (552 download)
Download or read book Public Debt and Growth written by Jaejoon Woo and published by International Monetary Fund. This book was released on 2010-07-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451822251
Total Pages : 52 pages
Book Rating : 4.4/5 (518 download)
Download or read book Republic of Korea written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-08-20 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2009 Article IV Consultation highlights that like other open economies, Korea was hard hit by the global financial crisis during the last quarter of 2008. The authorities responded with a timely and comprehensive set of financial market and macrostabilization measures. Executive Directors have commended the authorities for their speedy and comprehensive measures, which have successfully stabilized the economy and the financial system. Directors have also supported the sizable and frontloaded fiscal stimulus package and the intention to maintain fiscal stimulus in 2010 given the uncertain outlook.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513569678
Total Pages : 92 pages
Book Rating : 4.5/5 (135 download)
Download or read book Global Financial Stability Report, April 2021 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-04-06 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks. Chapter 1 warns that there is a pressing need to act to avoid a legacy of vulnerabilities while avoiding a broad tightening of financial conditions. Actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities. The recovery is also expected to be asynchronous and divergent between advanced and emerging market economies. Given large external financing needs, several emerging markets face challenges, especially if a persistent rise in US rates brings about a repricing of risk and tighter financial conditions. The corporate sector in many countries is emerging from the pandemic overindebted, with notable differences depending on firm size and sector. Concerns about the credit quality of hard-hit borrowers and profitability are likely to weigh on the risk appetite of banks. Chapter 2 studies leverage in the nonfinancial private sector before and during the COVID-19 crisis, pointing out that policymakers face a trade-off between boosting growth in the short term by facilitating an easing of financial conditions and containing future downside risks. This trade-off may be amplified by the existing high and rapidly building leverage, increasing downside risks to future growth. The appropriate timing for deployment of macroprudential tools should be country-specific, depending on the pace of recovery, vulnerabilities, and policy tools available. Chapter 3 turns to the impact of the COVID-19 crisis on the commercial real estate sector. While there is little evidence of large price misalignments at the onset of the pandemic, signs of overvaluation have now emerged in some economies. Misalignments in commercial real estate prices, especially if they interact with other vulnerabilities, increase downside risks to future growth due to the possibility of sharp price corrections.
Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 : 1484341635
Total Pages : 118 pages
Book Rating : 4.4/5 (843 download)
Download or read book Republic of Korea written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-02-13 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues chapter outlines a strategy to facilitate this and navigate the more challenging monetary environment, involving enhanced communication of policy interest rate intentions and inflation-forecast targeting. The reduction in the inflation target by a percentage point to 2 percent in January 2016 weakened the nominal anchor. Monetary policy can play a role rebuilding the credibility of the anchor more rapidly through the adoption of inflation-forecast targeting. This strengthening of the monetary policy framework involves enhancing communications. An effective, credible monetary policy cannot address all macroeconomic challenges facing Korea. Rather, it can foster robust growth with low inflation, providing a stable and predictable environment that allows other policies to work more effectively. These other policies play a complementary role. Fiscal policy can reinforce the effectiveness of monetary policy, as illustrated by model scenarios. Structural policies can also support monetary policy by, for example, boosting potential growth.
Author : Anis Chowdhury
Publisher : Psychology Press
ISBN 13 : 0415097495
Total Pages : 304 pages
Book Rating : 4.4/5 (15 download)
Download or read book The Newly Industrialising Economies of East Asia written by Anis Chowdhury and published by Psychology Press. This book was released on 1993 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: In surveying the vast range of writing on the East Asian NIEs and their development paths, this book evaluates the competing roles of neo-classical approaches and central government intervention in guiding economic development.
Author : L. Randall Wray
Publisher : Springer
ISBN 13 : 1137539925
Total Pages : 322 pages
Book Rating : 4.1/5 (375 download)
Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2015-09-22 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
