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Optimal Taxation Policies in the EMS : A Two-Country Model of Public Finance

International Monetary Fund - 1989

This paper analyzes, in a public finance context, how the optimal use of the inflation and the consumption tax is affected by incorporating into the model constraints on policy decisions that are likely to develop in the context of the EMS by 1992. Two main questions are addressed: first, how...

Persistent link: https://www.econbiz.de/10014396346

Neglected Heterogeneity and Dynamics in Cross-Country Savings Regressions

International Monetary Fund - 1999

This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing … for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that … neglecting heterogeneity and dynamics can lead to misleading inferences about the key determinants of savings behavior. The …

Persistent link: https://www.econbiz.de/10014400163

Saving-Investment Correlations : Immobile Capital. Government Policy or Endogenous Behavior?

International Monetary Fund - 1989

This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over time. It is concluded that the main reason for the observed high correlations over the recent period is probably government policy

Persistent link: https://www.econbiz.de/10014396226

Fiscal Policy and Private Sector Saving Behavior : Tests of Ricardian Equivalence in Some Developing Economies

International Monetary Fund - 1987

Tax or debt financing of a given rate of government expenditures would, according to the now well-known Ricardian Equivalence proposition, have equivalent effects on aggregate demand. Among the reasons for a deviation from the equivalence is the possibility that the government and the private...

Persistent link: https://www.econbiz.de/10014396483

Optimal Fiscal Policy and Government Provision of Contingent Liabilities : The Example of Government Loan and Deposit Guarantees

International Monetary Fund - 1989

sector’s loan portfolio to eliminate risk, full government guarantee of private sector loans (or deposits) is suboptimal. The …

Persistent link: https://www.econbiz.de/10014395814

Asset Prices and Time-Varying Risk

International Monetary Fund - 1988

time-varying risk. Some work by Abel provided us with the insights needed to produce such formulas. This paper gives a …

Persistent link: https://www.econbiz.de/10014396175

Model Uncertainty. Learning, and the Gains from Coordination

International Monetary Fund - 1988

The paper considers gains from international economic policy coordination when there is uncertainty concerning the functioning of the world economy, but also learning about the “true” model on the part of policymakers. The paper reports estimates of plausible alternative versions of a...

Persistent link: https://www.econbiz.de/10014395854

Government Spending, Rights, and Civil Liberties

International Monetary Fund - 2000

Government spending plays a critical role in protecting and enforcing rights and civil liberties. Empirical evidence for a sample of industrial and developing countries shows that government expenditures on defense, law and order, social security, education, and health care are associated with...

Persistent link: https://www.econbiz.de/10014400244

Corruption and the Rate of Temptation : Do Low Wages in the Civil Service Cause Corruption?

International Monetary Fund - 1997

This paper develops and tests two efficiency wage models of corruption in the civil service. Under fair wage models, civil service wages are an important determinant of corruption. Under shirking models, the level of wages is of secondary importance, as potential bribes dwarf wage income. The...

Persistent link: https://www.econbiz.de/10014400303

A Simple Dge Model for Inflation Targeting

International Monetary Fund - 2007

The paper presents a DGE model designed as a core projection tool to support monetary policy in inflation-targeting (IT) emerging market economies. The paper uses a particularly simple and flexible general equilibrium model structure that can be amended to account for various phenomena that...

Persistent link: https://www.econbiz.de/10014400322

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