Author : Mr.Tamim Bayoumi
Publisher : International Monetary Fund
ISBN 13 : 1451851790
Total Pages : 27 pages
Book Rating : 4.4/5 (518 download)
Book Synopsis Liberating Supply-Fiscal Policy and Technological innovation in a Multicountry Model by : Mr.Tamim Bayoumi
Download or read book Liberating Supply-Fiscal Policy and Technological innovation in a Multicountry Model written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1998-06-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how endogenizing technological progress in a multicountry macroeconometric model affects the analysis of fiscal policies. It uses an expanded version of the IMF’s multicountry model, MULTIMOD, in which total factor productivity (TFP) is endogenized as a function of domestic research and development (R&D) expenditures, R&D expenditures of trading partners, and trade. Compared with the standard version of the model with exogenous TFP, fiscal policies have much larger and long-lived effects on the domestic economy and on other countries.