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Bank Failures and Fiscal Austerity : Policy Presecriptions for a Developing Country

Feltenstein, Andrew - 2000

This work employs a dynamic general equilibrium model to evaluate the causes and implications of bank insolvencies. The model is applied to stylized data from several South Asian countries. It derives conclusions about policy instruments designed to alleviate the impact of insolvencies. Firms...

Persistent link: https://www.econbiz.de/10014399931

Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

Stehn, Sven Jari - 2009

This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each period. With full asset market participation, the optimal policy relies entirely on...

Persistent link: https://www.econbiz.de/10014402237

Fiscal and Monetary Policy During Downturns : Evidence From the G7

Stehn, Sven Jari - 2009

This paper analyzes how fiscal and monetary policy typically respond during downturns in G7 countries. It evaluates whether discretionary fiscal responses to downturns are timely and temporary, and compares the response of fiscal policy to that of monetary policy. The results suggest that while...

Persistent link: https://www.econbiz.de/10014404290

How big are fiscal multipliers in Latin America?

Restrepo L., Jorge Enrique - 2020

This paper uses the strategy and data of Blanchard and Perotti (BP) to identify fiscal shocks and estimate fiscal multipliers for the United States. With these results, it computes the cumulative multiplier of Ramey and Zubairy (2018), now common in the literature. It finds that, contrary to the...

Persistent link: https://www.econbiz.de/10012170143

Efficiency-adjusted public capital and growth

Gupta, Sanjeev; Kangur, Alvar; Papageorgiou, Chris; … - 2011

Persistent link: https://www.econbiz.de/10009422427

Infrastructure Aid, Deindustrialization, and Welfare

Choi, Eun Kwan - 2005

This paper investigates the deindustrialization and welfare effects of infrastructure aid in developing countries. In … the short run, cost-saving infrastructure aid in the export sector increases the domestic wage rate, whereas the same aid … infrastructure aid. Infrastructure aid in the nontraded sector has no effect on domestic factor prices. Laborsaving infrastructure …

Persistent link: https://www.econbiz.de/10014400615

Efficiency-Adjusted Public Capital and Growth

Gupta, Sanjeev - 2011

This paper constructs an efficiency-adjusted public capital stock series and re-examines the public capital and growth relationship for 52 developing countries. The results show that public capital is a significant contributor to economic growth. Although the estimated coefficient for the income...

Persistent link: https://www.econbiz.de/10014398314

Fiscal Stimulus and Credibility in Emerging Countries

Kandil, Magda E. - 2010

Across a sample of thirty four emerging countries, the evidence shows the frequent existence of a pro-cyclical fiscal impulse. However, the scope for countercyclical policy increases with the availability of international reserves as it enhances credibility and mitigates concerns about the...

Persistent link: https://www.econbiz.de/10014403225

Investing to mitigate and adapt to climate change : a framework model

Bonen, Anthony; Loungani, Prakash; Semmler, Willi; … - 2016

We propose a macroeconomic model to assess optimal public policy decisions in the the face of competing funding demands for climate change action versus traditional welfare-enhancing capital investment. How to properly delineate the costs and benefits of traditional versus adaption-focused...

Persistent link: https://www.econbiz.de/10011715124

Monetary policy transmission in emerging markets and developing economies

Brandao Marques, Luis; Gelos, Gaston; Harjes, Thomas; … - 2020

Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often...

Persistent link: https://www.econbiz.de/10012177610

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