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Reflating Japan : time to get unconventional?

Arbatli, Elif; Botman, Dennis P. J.; Clinton, Kevin; … - 2016

Japan has ambitious economic goals: 3 percent nominal growth; 2 percent inflation; and a primary budget surplus …

Persistent link: https://www.econbiz.de/10011715113

DSGE Modeling At the Fund : Applications and Further Developments

Botman, Dennis P. J. - 2007

Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large...

Persistent link: https://www.econbiz.de/10014400433

Is Japan’s population aging deflationary?

Anderson, Derek; Botman, Dennis P. J.; Hunt, Benjamin F. - 2014

Persistent link: https://www.econbiz.de/10010441739

Is Japan’s Population Aging Deflationary?

Anderson, Derek - 2014

Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the …

Persistent link: https://www.econbiz.de/10014411443

Portfolio rebalancing in Japan : constraints and implications for quantitative easing

Arslanalp, Serkan; Botman, Dennis P. J. - 2015

Portfolio rebalancing is a key transmission channel of quantitative easing in Japan. We construct a realistic …

Persistent link: https://www.econbiz.de/10011373924

Global Aging Pressures : Impact of Fiscal Adjustment, Policy Cooperation, and Structural Reforms

Kumar, Manmohan S. - 2007

Demographic pressures will materialize in many economies over the next few decades. We examine the macroeconomic impact of alternative fiscal adjustment and structural reform strategies to address these global aging pressures using the IMF''s Global Fiscal Model (GFM). The results suggest...

Persistent link: https://www.econbiz.de/10014400215

Options for Fiscal Consolidation in the United Kingdom

Botman, Dennis P. J. - 2006

This paper examines the macroeconomic effects of different timing and composition of fiscal adjustment in the United Kingdom using the IMF’s Global Fiscal Model. Early consolidation dampens aggregate demand in the short term, but increases output in the long term as smaller primary surpluses...

Persistent link: https://www.econbiz.de/10014400532

Fundamental Determinants of the Effects of Fiscal Policy

Kumar, Manmohan S. - 2006

We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the...

Persistent link: https://www.econbiz.de/10014402971

A New-Open-Economy Macro Model for Fiscal Policy Evaluation

Muir, Dirk - 2006

We develop a New-Open-Economy-Macro model in which Ricardian equivalence does not hold because of (i) distortionary labor and corporate income taxation; (ii) limited asset market participation; and (iii) because the overlapping-generations structure results in a disconnect between current and...

Persistent link: https://www.econbiz.de/10014399890

Strategies for Fiscal Consolidation in Japan

Botman, Dennis P. J. - 2007

Japan''s key fiscal challenge is to put public finances on a more sustainable footing. This paper investigates the … macroeconomic implications of alternative fiscal strategies for Japan using the IMF''s Global Fiscal Model. The results suggest that … of the world from consolidation in Japan are positive in the medium term, but modest …

Persistent link: https://www.econbiz.de/10014400688