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...

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Bibliographic Details
Main Authors: Botman, Dennis (Dennis Petrus Johannes) (Author), Kumar, Manmohan S. (Author)
Corporate Author: International Monetary Fund. Fiscal Affairs Department
Format: Electronic eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept., 2006.
Series:IMF working paper ; WP/06/72.
Subjects:
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245 1 0 |a Fundamental determinants of the effects of fiscal policy /  |c prepared by Dennis Botman and Manmohan S. Kumar. 
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505 0 |a Contents -- I. INTRODUCTION -- II. KEY FEATURES OF THE GLOBAL FISCAL MODEL -- III. CALIBRATING THE MODEL -- IV. THE MACROECONOMIC EFFECTS OF GOVERNMENT DEBT -- V. GOVERNMENT SPENDING SHOCKS AND PRIVATE CONSUMPTION -- VI. TAX DISTORTIONS AND THE BENEFITS OF TAX REFORM -- VII. THE EFFECTS OF PRIVATIZING RETIREMENT SAVING -- VIII. CONCLUDING REMARKS -- References 
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520 |a 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. 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
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650 0 |a Fiscal policy  |x Econometric models. 
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710 2 |a International Monetary Fund.  |b Fiscal Affairs Department. 
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776 0 8 |i Print version:  |a Botman, Dennis (Dennis Petrus Johannes).  |t Fundamental determinants of the effects of fiscal policy.  |d [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept., 2006  |w (OCoLC)74114051 
830 0 |a IMF working paper ;  |v WP/06/72. 
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