Fundamental determinants of the effects of fiscal policy

Fundamental determinants of the effects of fiscal policy /

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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:
Fiscal policy > Econometric models.
Economic policy > Econometric models.
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Table of Contents:
  • 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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