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Why Do Fiscal Multipliers Depend on Fiscal Positions?
Huidrom, Raju - 2019
reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is implemented from a weak fiscal …
Persistent link: https://www.econbiz.de/10012889900
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Do Fiscal Multipliers Depend on Fiscal Positions?
Huidrom, Raju - 2017
Ricardian channel through which households reduce consumption in anticipation of future fiscal adjustments …
Persistent link: https://www.econbiz.de/10012968730
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Coordinating Public Debt Management with Fiscal and Monetary Policies : An Analytical Framework
Togo, Eriko - 2007
This paper proposes a sovereign asset and liability management framework for analyzing the inter-relationships between debt management, fiscal and monetary policies. It illustrates the consequences of uncoordinated policy mix and extends Sargent and Wallace (1981 and 1993) by including debt...
Persistent link: https://www.econbiz.de/10012775523
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Why Some Countries Can Escape the Fiscal Pro-Cyclicality Trap and Others Cannot?
Herrera, Santiago - 2019
This paper analyzes the procyclicality of fiscal policy on the tax and spending sides in a sample of 116 developing countries between 2000 and 2016. About 20 percent of the countries in the sample switched from procyclical to countercyclical policy stance. In Sub-Saharan Africa, 30 of 39...
Persistent link: https://www.econbiz.de/10012865086
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How Small Should an Economy's Fiscal Deficit Be? - a Monetary Programming Approach
Beckerman, Paul - 2017
The author describes a spread-sheet planning model to help determine the government deficit consistent with a policymaker's "vector" of principal macroeconomic objectives (including real GDP growth, inflation, exchange rate, and international reserve accumulation). The model focuses on the...
Persistent link: https://www.econbiz.de/10012971024
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The 2014-16 Oil Price Collapse in Retrospect : Sources and Implications
Stocker, Marc - 2018
With the benefit of hindsight, this paper provides a fresh and comprehensive look at the causes of the 2014-16 collapse in oil prices and its impact on the global economy. It disentangles the contribution of supply and demand factors, assesses the impact on activity in oil exporters and oil...
Persistent link: https://www.econbiz.de/10012920304
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When is the Government Transfer Multiplier Large?
Pennings, Steven Michael - 2017
Transfers to individuals were a larger part of the 2009 U.S. stimulus package than government purchases. Using a two-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained households is (i) larger than the purchase multiplier...
Persistent link: https://www.econbiz.de/10012948280
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Growth of Global Corporate Debt : Main Facts and Policy Challenges
Abraham, Facundo - 2020
This paper surveys the literature to document the main stylized facts, risks, and policy challenges related to the expansion of global nonfinancial corporate debt after the 2008–09 global financial crisis. Nonfinancial corporate debt steadily increased after the crisis, especially in emerging...
Persistent link: https://www.econbiz.de/10012823367
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Diamonds are Not Forever : Botswana Medium-Term Fiscal Sustainability
Kojo, Naoko C. - 2010
This paper analyzes Botswana's medium-term fiscal sustainability in view of the expected depletion of diamonds in the future. The analysis shows that in the absence of policy adjustments, Botswana's current fiscal policy strategy is unsustainable over the longer term, which could endanger...
Persistent link: https://www.econbiz.de/10013135944
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Consumption Smoothing and Shock Persistence : Optimal Simple Fiscal Rules for Commodity Exporters
Galego Mendes, Arthur - 2017
A common criticism of balanced budget fiscal rules is that they increase the consumption volatility of financially … constrained households who are unable to smooth consumption. This paper evaluates the welfare consequences of simple fiscal rules … to perfectly smooth constrained households? consumption without adversely affecting unconstrained households …
Persistent link: https://www.econbiz.de/10012957780