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Author: Jacob A. Frenkel
Publisher: University of Chicago Press
ISBN: 0226262545
Category : Business & Economics
Languages : en
Pages : 422
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Book Description
This volume brings together nine papers from a conference on international macroeconomics sponsored by the NBER in 1985. International economists as well as graduate students in the fields of global monetary economics, finance, and macroeconomics will find this an outstanding contribution to current research. It includes two commentaries for each paper, written by experts in the field, and Frenkel's detailed introduction, which serves as a reader's guide to the arguments made, the models employed, and the issues raised by each contributor. The studies analyze national fiscal policies within the context of the international economic order. Malcolm D. Knight and Paul R. Masson use an empirical model to show that fiscal changes in recent years in the United States, West Germany, and Japan have caused major disturbances in net savings and investment flows. Linda S. Kole uses a two-country simulation model to examine the effects of a large nation's expansion on exchange rates, interest rates, and the balance of payments. In other studies, Warwick J. McKibbin and Jeffrey D. Sachs discuss the influences of different currency regimes on the international transmission of inflation; Kent P. Kimbrough analyzes the interaction between optimal tax policies and international trade; Sweder van Wijnbergen investigates the interrelation of fiscal policies, trade intervention, and world interest rates; and Willem H. Buiter uses an analytical model to look at fiscal interdependence and optimal policy design. David Backus, Michael Devereux, and Douglas Purvis develop a theoretical model to investigate effects of different fiscal policies in an open economy. Alan C. Stockman looks at the influence of policy anticipation in the private sector, while Lawrence H. Summers shows the effects of differential tax policy on international competitiveness.
Author: Jacob A. Frenkel
Publisher: University of Chicago Press
ISBN: 0226262545
Category : Business & Economics
Languages : en
Pages : 422
Get Book
Book Description
This volume brings together nine papers from a conference on international macroeconomics sponsored by the NBER in 1985. International economists as well as graduate students in the fields of global monetary economics, finance, and macroeconomics will find this an outstanding contribution to current research. It includes two commentaries for each paper, written by experts in the field, and Frenkel's detailed introduction, which serves as a reader's guide to the arguments made, the models employed, and the issues raised by each contributor. The studies analyze national fiscal policies within the context of the international economic order. Malcolm D. Knight and Paul R. Masson use an empirical model to show that fiscal changes in recent years in the United States, West Germany, and Japan have caused major disturbances in net savings and investment flows. Linda S. Kole uses a two-country simulation model to examine the effects of a large nation's expansion on exchange rates, interest rates, and the balance of payments. In other studies, Warwick J. McKibbin and Jeffrey D. Sachs discuss the influences of different currency regimes on the international transmission of inflation; Kent P. Kimbrough analyzes the interaction between optimal tax policies and international trade; Sweder van Wijnbergen investigates the interrelation of fiscal policies, trade intervention, and world interest rates; and Willem H. Buiter uses an analytical model to look at fiscal interdependence and optimal policy design. David Backus, Michael Devereux, and Douglas Purvis develop a theoretical model to investigate effects of different fiscal policies in an open economy. Alan C. Stockman looks at the influence of policy anticipation in the private sector, while Lawrence H. Summers shows the effects of differential tax policy on international competitiveness.
Author: Charles Amo-Yartey
Publisher: Nova Science Publishers
ISBN: 9781634824088
Category : Fiscal policy
Languages : en
Pages : 0
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Book Description
Fiscal policy is an important factor influencing the growth performance of countries. However, compared to the large empirical literature on the effects of monetary policy on economic activity, fiscal policy has received less attention. In this book, the authors present current research in the study of fiscal policy and the macroeconomy as well as the challenges of fiscal policy in the current global environment. The book brings a global perspective to the practice of fiscal policy by presenting case studies from the United States, the European Union, and the Caribbean. Topics discussed in the book include international dimensions of fiscal policy, public debt and the economy, austerity versus stimulus and economic growth, the correction of economic imbalances in Europe, the long term impact of fiscal devaluation, the cyclicality of fiscal policy, the appropriate debt ceilings for small states, lessons from the banking union framework in the Euro Area, fiscal policy and competitiveness, policy lessons from debt restructuring in Jamaica, estimating the structural fiscal balance in small islands and fiscal policy rules and fiscal performance.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451960239
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
International coordination of macroeconomic policies has attracted much attention in recent years. The main issue has been whether economic performance can be improved by coordination Although it is still a controversial issue many economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the requirements for successful fiscal coordination. It concludes that those requirements are such that the best fiscal policies that countries can pursue are those aimed at putting their houses in order.
Author: Charles Amo Yartey
Publisher:
ISBN: 9781634824224
Category : Fiscal policy
Languages : en
Pages : 320
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Book Description
Fiscal policy is an important factor influencing the growth performance of countries. However, compared to the large empirical literature on the effects of monetary policy on economic activity, fiscal policy has received less attention. In this book, the authors present current research in the study of fiscal policy and the macroeconomy as well as the challenges of fiscal policy in the current global environment. The book brings a global perspective to the practice of fiscal policy by presenting case studies from the United States, the European Union, and the Caribbean. Topics discussed in the book include international dimensions of fiscal policy, public debt and the economy, austerity versus stimulus and economic growth, the correction of economic imbalances in Europe, the long term impact of fiscal devaluation, the cyclicality of fiscal policy, the appropriate debt ceilings for small states, lessons from the banking union framework in the Euro Area, fiscal policy and competitiveness, policy lessons from debt restructuring in Jamaica, estimating the structural fiscal balance in small islands and fiscal policy rules and fiscal performance.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 145194862X
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This paper analyzes, in a general equilibrium framework, how fiscal policy transmits its effects to the current account of the balance of payments. In discussing the role of fiscal policies in the Fund’s stabilization programs, the paper compares different approaches to explain the determination of the external balance. The model presented here is based on intertemporal optimization and focuses on the behavior of private and public agents. Some empirical evidence is also presented, based on data from ten Latin American countries. Finally, an appendix presents an integrated system of financial, external, and government accounts.
Author: Vito Tanzi
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
Collection of contributions on the fiscal issues in economics in transition. It consists of three parts dealing with: general efects of fiscal policy, revenue aspects, and public expenditure.
Author: Jacob A. Frenkel
Publisher: MIT Press
ISBN: 9780262061438
Category : Business & Economics
Languages : en
Pages : 268
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Book Description
In this book the authors provide a new treatment of international taxation, one that focuses on the interactions between fiscal policies of sovereign nations and the magnitude and directions of international capital and goods flow in an integrated world economy.
Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 0226387062
Category : Business & Economics
Languages : en
Pages : 471
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Book Description
Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author: Mr.Mario I. Bléjer
Publisher: International Monetary Fund
ISBN: 9781557750341
Category : Business & Economics
Languages : en
Pages : 404
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Book Description
Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.
