Fundamental determinants of the effects of fiscal policy /
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 characteristics...
Saved in:
| Main Authors: | , |
|---|---|
| Corporate Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund, Fiscal Affairs Dept.,
2006.
|
| Series: | IMF working paper ;
WP/06/72. |
| Subjects: | |
| Online Access: | Full text (Emerson users only) Full text (Emmanuel users only) Full text (NECO users only) Full text (MCPHS users only) Full text (Wentworth users only) |
| Summary: | 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 characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings. |
|---|---|
| Physical Description: | 1 online resource (46 pages) : illustrations |
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
| Bibliography: | Includes bibliographical references. |
| ISBN: | 1283515423 9781283515429 9781451908688 1451908687 |