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Author : Alan J. Auerbach
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (12 download)
Download or read book Dynamic Fiscal Policy written by Alan J. Auerbach and published by . This book was released on 1988 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wayne Robert Hickenbottom
Publisher :
ISBN 13 :
Total Pages : 340 pages
Book Rating : 4.:/5 (319 download)
Download or read book Dynamic Fiscal Policy with Endogenous Human Capital written by Wayne Robert Hickenbottom and published by . This book was released on 1992 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marcus Hagedorn
Publisher :
ISBN 13 :
Total Pages : 145 pages
Book Rating : 4.:/5 (231 download)
Download or read book Dynamic Fiscal Policy written by Marcus Hagedorn and published by . This book was released on 2001 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Duane J. Trojniak
Publisher :
ISBN 13 :
Total Pages : 214 pages
Book Rating : 4.:/5 (279 download)
Download or read book Dynamic Fiscal Policy in a Monetary Economy written by Duane J. Trojniak and published by . This book was released on 1992 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kim Heng Tan
Publisher : Routledge
ISBN 13 : 1134870051
Total Pages : 238 pages
Book Rating : 4.1/5 (348 download)
Download or read book Fiscal Policy in Dynamic Economies written by Kim Heng Tan and published by Routledge. This book was released on 2016-06-03 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of fiscal policy in short-run macroeconomic stabilization is, by now, well known in the academic literature and in policy circles. However, this focus on the short-run, especially in a democracy, means that much less attention has been paid to the other consequences of the use of fiscal policy. By studying the intergenerational-welfare aspects of fiscal policy, this book deals with some fundamental issues of fiscal policy. Why does public debt tend to rise over time in democracies? Why is there a tendency for government spending on consumption and on social security to grow? Why do governments fail to invest in public capital adequately? Should a dollar transferred from the young be treated as a dollar transferred to the old? By studying the international aspects of fiscal policy, the book establishes international differences in fiscal policy as determinants of persistent trade imbalances and international indebtedness. It also considers some basic questions on international transfers and austerity in open economies. What criteria should be used to define a successful foreign-aid programme? Why is foreign aid likely to fail in a world of global wealth disparity? Can reliance be placed on the international coordination of austerity to improve welfare in the long run? Is austerity accompanied by international transfers superior to austerity unaccompanied by international transfers? This book based on the OLG model fills a gap on fiscal-policy issues in the recent spate of books on overlapping generations.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451931239
Total Pages : 33 pages
Book Rating : 4.4/5 (519 download)
Download or read book Dynamics of Devaluation and "Equivalent" Fiscal Policies for a Small Open Economy written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-01-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In pursuing a steady-state reserve target, policymakers in small open economies can resort to devaluation or to temporary increases in public saving. This paper contrasts the dynamic implications of these alternative policies in a model with optimizing agents who possess perfect foresight. In general, the private sector cannot be insulated from the effects of the government’s reserve-accumulation policies. The dynamic effects of devaluation depend on the fiscal policy rule in effect. In contrast to devaluation, the “equivalent” fiscal policies imply discontinuities in private consumption and temporary tax increases may cause key macroeconomic variables to overshoot their steady-state values.
Author : William G. Gale
Publisher : Oxford University Press
ISBN 13 : 0190645431
Total Pages : 256 pages
Book Rating : 4.1/5 (96 download)
Download or read book Fiscal Therapy written by William G. Gale and published by Oxford University Press. This book was released on 2019-03-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keeping the economy strong will require addressing two distinct but related problems. Steadily rising federal debt makes it harder to grow our economy, boost our living standards, respond to wars or recessions, address social needs, and maintain our role as a global leader. At the same time, we have let critical investments lag and left many people behind even as overall prosperity has grown. In Fiscal Therapy, William Gale, a leading authority on how federal tax and budget policy affects the economy, provides a trenchant discussion of the challenges posed by the imbalances between spending and revenue. America is facing a gradual decline as debt accumulates and delay raises the costs of action. But there is hope: fiscal responsibility aligns with both conservative and liberal goals and citizens of all stripes can support the notion of making life better for our children and grandchildren. Gale provides a plan to make the economy and nation stronger, one that controls entitlement spending but preserves and enhances their anti-poverty and social insurance roles, increases public investments on human and physical capital, and raises and reforms taxes to pay for government services in a fair and efficient way. What is needed, he argues, is to balance today's needs against tomorrow's obligations. We face significant fiscal challenges but, if we are wise enough to seize our opportunities, we can strengthen our economy, increase opportunity, reduce inequality, and build better lives for our children and grandchildren. We do not have to kill popular programs or starve government. Indeed, one main goal of fiscal reform is to maintain the vital functions that government provides. We need to act responsibly, pay for the government we want, and shape that government in ways that serve us best.
Author : Aleh Tsyvinski
Publisher :
ISBN 13 :
Total Pages : 326 pages
Book Rating : 4.:/5 (319 download)
Download or read book Optimal Dynamic Fiscal Policy written by Aleh Tsyvinski and published by . This book was released on 2003 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Narayana R. Kocherlakota
Publisher : Princeton University Press
ISBN 13 : 1400835275
Total Pages : 230 pages
Book Rating : 4.4/5 (8 download)
Download or read book The New Dynamic Public Finance written by Narayana R. Kocherlakota and published by Princeton University Press. This book was released on 2010-07-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.
Author : Antonia María Ruiz Jiménez
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (129 download)
Download or read book Dynamic fiscal policy written by Antonia María Ruiz Jiménez and published by . This book was released on 1987 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Zsolt Becsi
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (293 download)
Download or read book Wealth Effects, Heterogeneity and Dynamic Fiscal Policy written by Zsolt Becsi and published by . This book was released on 1993 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew Brociner
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.X/5 (2 download)
Download or read book Fiscal Policy Coordination and EMU written by Andrew Brociner and published by . This book was released on 1992 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wayne R. Hickenbottom
Publisher :
ISBN 13 :
Total Pages : 160 pages
Book Rating : 4.:/5 (29 download)
Download or read book Dynamic fiscal policy with endogenous human capital written by Wayne R. Hickenbottom and published by . This book was released on 1994 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Challis A. Hall
Publisher :
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.:/5 (6 download)
Download or read book Fiscal Policy for Stable Growth written by Challis A. Hall and published by . This book was released on 1960 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jean-Pascal Bénassy
Publisher : MIT Press
ISBN 13 : 0262026139
Total Pages : 215 pages
Book Rating : 4.2/5 (62 download)
Download or read book Money, Interest, and Policy written by Jean-Pascal Bénassy and published by MIT Press. This book was released on 2007 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: An important recent advance in macroeconomics is the development of dynamic stochastic general equilibrium (DSGE) macromodels. The use of DSGE models to study monetary policy, however, has led to paradoxical and puzzling results on a number of central monetary issues including price determinacy and liquidity effects. In Money, Interest, and Policy, Jean-Pascal Benassy argues that moving from the standard DSGE models - which he calls "Ricardian" because they have the famous "Ricardian equivalence" property-to another, "non-Ricardian" model would resolve many of these issues. A Ricardian model represents a household as a homogeneous family of infinitely lived individuals, and Benassy demonstrates that a single modification-the assumption that new agents are born over time (which makes the model non-Ricardian)-can bridge the current gap between monetary intuitions and facts, on one hand, and rigorous modeling, on the other. After comparing Ricardian and non-Ricardian models, Benassy introduces a model that synthesizes the two approaches, incorporating both infinite lives and the birth of new agents. Using this model, he considers a number of issues in monetary policy, including liquidity effects, interest rate rules and price determinacy, global determinacy, the Taylor principle, and the fiscal theory of the price level. Finally, using a simple overlapping generations model, he analyzes optimal monetary and fiscal policies, with a special emphasis on optimal interest rate rules
Author : Michael Carlberg
Publisher : Springer Science & Business Media
ISBN 13 : 3642476899
Total Pages : 196 pages
Book Rating : 4.6/5 (424 download)
Download or read book Monetary and Fiscal Dynamics written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: As a response to the shock, the central bank continuouslyadapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be sustained? Or will public debt tend to explode, thereby driving the stock of capial down to zero?
Author :
Publisher :
ISBN 13 : 9789289935302
Total Pages : pages
Book Rating : 4.9/5 (353 download)
Download or read book Dynamic Fiscal Limits and Monetary-fiscal Policy Interactions written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the impact of monetary policy on public debt sustainability through the lens of a general equilibrium model with fiscal limits. We find that the mere possibility of a binding ZLB may have detrimental effects on debt sustainability, as a kink in the Laffer curve induces a dead-weight loss in the present discounted value of future primary surpluses. Moreover, debt sustainability improves with monetary policy activeness, that is, with the elasticity of the interest rate to changes in inflation and the output gap. On this basis, we assess the trade-off between economic stabilization and debt sustainability depending on the monetary policy environment. In normal times, large public spending shocks may engender perverse debt dynamics and cause economic contractions. At the ZLB, a muted trade-off between stabilization and sustainability instead expands the fiscal margin, especially if coupled with a commitment to a more active monetary policy during normal times.
