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Fiscal Policy Capital Accumulation And Debt In An Open Economy
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Book Synopsis Fiscal Policy, Capital Accumulation, and Debt in an Open Economy by : Stephen J. Turnovsky
Download or read book Fiscal Policy, Capital Accumulation, and Debt in an Open Economy written by Stephen J. Turnovsky and published by . This book was released on 1990 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the effects of changes in government expenditures on both a domestically produced and an imported good in an open economy based on intertemporal optimizing behavior. The dynamic adjustment is characterized in detail and the critical role played by the accumulating capital stock is highlighted. The evolution of the current account is seen to mirror that of capital. The welfare of such policies is also assessed in tans of the intertemporal utility of the representative agent. Both permanent and temporary policy changes are considered, with the latter being shown to have a permanent effect on the economy.
Book Synopsis Growth, Debt, and Sovereign Risk in a Small, Open Economy by : Jagdeep S. Bhandari
Download or read book Growth, Debt, and Sovereign Risk in a Small, Open Economy written by Jagdeep S. Bhandari and published by World Bank Publications. This book was released on 1989 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a macroeconomic model for a small, open, developing economy that borrows abroad - to study the dynamic interaction between debt and growth and the impacts of various policies and exogenous shocks on the rate of capital accumulation, the current account, and debt. Adjustment policies that increase productivity and efficient use of capital increase both growth and the stock of external debt - but the new level of debt may be sustainable in the long run.
Book Synopsis Growth, External Debt and Sovereign Risk in a Small Open Economy by : International Monetary Fund
Download or read book Growth, External Debt and Sovereign Risk in a Small Open Economy written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-06-23 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper constructs and analyzes an optimizing model of a highly-indebted small open economy. An important innovation in the model is the incorporation of sovereign risk through the specification of an upward-sloping foreign debt supply function. The model is used to examine the interaction between external debt and growth in response to various policies and exogenous disturbances. It is shown that structural policies intended to reduce the fiscal deficit or increase productivity can lead to tradeoffs in their effect on capital accumulation and the stock of debt.
Book Synopsis Monetary and Fiscal Policy in a Growing Economy by : Duncan K. Foley
Download or read book Monetary and Fiscal Policy in a Growing Economy written by Duncan K. Foley and published by [New York] : Macmillan. This book was released on 1971 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: October 2004
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
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.
Book Synopsis The Economics of public finance by :
Download or read book The Economics of public finance written by and published by Atlantic Publishers & Distri. This book was released on 1974 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal Policy and Long-Run Growth by : Mr.Vito Tanzi
Download or read book Fiscal Policy and Long-Run Growth written by Mr.Vito Tanzi and published by International Monetary Fund. This book was released on 1996-10-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries’ economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution. It reviews both the conceptual linkages between each of the instruments and growth and the empirical evidence on such relationships. It broadly concludes that fiscal policy could play a fundamental role in affecting the long-run growth performance of countries.
Book Synopsis Taxation and the Deficit Economy by : Dwight R. Lee
Download or read book Taxation and the Deficit Economy written by Dwight R. Lee and published by Pacific Studies in Public Poli. This book was released on 1986 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: This texts contains essays written by economists who review the effects of past government actions & reforms needed to avoid long term economic stagnation. Topics discussed include social security, the military industrial complex, & private vs. political entrpreneurship. Generally, the topics include such topics as the economic effects of taxation, spending, deficits, & other forms of hidden taxation, & taxation & individual rights.
Book Synopsis Public Debt and Growth by : Jaejoon Woo
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.
Book Synopsis The Effectiveness of Fiscal Policy in Stimulating Economic Activity by : Richard Hemming
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.
Book Synopsis Fiscal Policy and Economic Growth by : Alfred Greiner
Download or read book Fiscal Policy and Economic Growth written by Alfred Greiner and published by . This book was released on 1996 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work analyzes the impact of fiscal policy on the growth rate of market economies. Two frameworks are considered: in the first, human capital is seen as a by-product of gross investment; in the second, government is seen to influence growth by investing in public capital.
Book Synopsis Public Finance in an Overlapping Generations Economy by : T. Ihori
Download or read book Public Finance in an Overlapping Generations Economy written by T. Ihori and published by Springer. This book was released on 1996-11-20 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a theoretically-based comprehensive analysis of macroeconomic consequences of fiscal policy using a popular economic model: the overlapping generations growth model. A wide range of essential public finance issues is analyzed, including the effects of tax reform on dynamic efficiency, positive and normative effects of public spending, considerations of taxes on fixed assets and monetary holdings, and sustainability of deficits. A unique approach is applied in the study of public finance: one expected to generate substantial interest among current graduate students and active researchers.
Book Synopsis Fiscal Policy, Public Debt and the Term Structure of Interest Rates by : Roland Demmel
Download or read book Fiscal Policy, Public Debt and the Term Structure of Interest Rates written by Roland Demmel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of the thesis consists of four parts: first, we motivate our chosen macroeconomic setting by looking at some real world phenomena. For a better understanding of these phenomena, we argue that the mutual dynamic interactions between flScal policy and financial markets need to be closely examined in a macroeconomic framework. Second, we review different strands of the economic literature in order to show that most of the literature has so far exclusively concentrated either on fmancial market dynamics or on flScal policy issues. We conclude that a more integrated model setting is called for in order to explain the dynamic interactions observed in reality. Third, we discuss at length the economic assumptions underlying our model. This avoids multiple repetition later on. Finally, we outline the structure of the thesis and the objectives we pursue in the different chapters. 1. 1 Motivation Fiscal policy and financial market reactions are increasingly receiving world wide attention. The most recent examples are the Maastricht criteria about flScal control, the South-East Asia financial crisis and the resulting IMF policy stance, the high level of public debt in developed and developing countries and the effect on interest rates and economic growth. In contrast to the still underdeveloped theoretical literature on these dynamic links, finding empirical evidence that supports the existence of these links is not a very hard task.
Book Synopsis Public Debt, Sustainability and Economic Growth by : Alfred Greiner
Download or read book Public Debt, Sustainability and Economic Growth written by Alfred Greiner and published by Springer. This book was released on 2014-10-14 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public debt has become a severe problem for a great many economies. While the effects of tax policies on the allocation of resources are readily derived, the mechanisms that make public deficits and debt influence the economy are not so easily understood. This book elaborates on the effects of public debt starting from the intertemporal budget constraint of the government. It is shown under which conditions a government can stick to the intertemporal budget constraint and then, demonstrated how public debt affects the growth process and welfare in market economies. The effects are derived for models with complete labor markets as well as taking into account labor market imperfections. The focus in this book is on fiscal policy issues, but it also deals with monetary policy aspects. The theoretical analysis is complemented with empirical time series analyses on debt sustainability and with panel studies dealing with the relationship between public debt and economic growth.
Book Synopsis Fiscal and Monetary Policies, Capital Formation and Economic Activity by : James Tobin
Download or read book Fiscal and Monetary Policies, Capital Formation and Economic Activity written by James Tobin and published by . This book was released on 1981 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The State and Capital Accumulation in Latin America by : Christian Anglade
Download or read book The State and Capital Accumulation in Latin America written by Christian Anglade and published by Springer. This book was released on 1985-06-18 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Monetary and Fiscal Policy in an Economy with Endogenous Public Debt by : Sheung Kan Luk
Download or read book Optimal Monetary and Fiscal Policy in an Economy with Endogenous Public Debt written by Sheung Kan Luk and published by . This book was released on 2015 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a New Keynesian framework to study the coordination of fiscal and monetary policies, in response to an inflation shock when the policymaker acts with commitment. We first show that, in the simplest New Keynesian model, fiscal policy plays no part in the optimal policy response, because of the comparative advantage which monetary policy has in the control of inflation. We then add endogenous public debt and show that the above result is no longer true. When the initial stock of debt is low, it is optimal for government spending to remain largely inactive, but when the initial stock of debt is high, government spending should play a significant stabilisation role in the first period. This finding is robust to adding endogenous capital accumulation and inflation persistence in the Phillips curve.
