Achieving a soft landing : the role of fiscal policy /

This paper utilizes an open-economy New Keynesian overlapping generations model to assess the extent to which fiscal policy, along side an inflation-forecast-based monetary policy, could enhance macroeconomic stability in Colombia. The model simulations indicate that, in addition to stabilizing outp...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Leigh, Daniel (Autor)
Autor Corporativo: International Monetary Fund. Fiscal Affairs Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.?] : International Monetary Fund, ©2008.
Colección:IMF working paper ; WP/08/69.
Temas:
Fiscal policy > Colombia > Econometric models.
Monetary policy > Colombia > Econometric models.
Politique fiscale > Colombie > Modèles économétriques.
Politique monétaire > Colombie > Modèles économétriques.
Fiscal policy > Econometric models
Monetary policy > Econometric models
Colombia
Acceso en línea:Texto completo
Tabla de Contenidos:
  • I. Introduction; II. Methodology; III. Results: Macroeconomic Effects of Fiscal Policy Tightening; Figures; 1. Domestic Risk Premium and the Debt-to-GDP Ratio; 2. Exogenous Permanent Cut in Public Consumption of 0.5 Percent of GDP; 3. Exogenous Permanent Cut in Public Investment of 0.5 Percent of GDP; IV. Results: Fiscal Policy and Macroeconomic Stability; 4. Private Savings Shock and Strength of Fiscal Policy Response; 5. Markup Shock and Strength of Fiscal Policy Response; 6. Efficiency Frontier: Markup Shock.
  • 7. Efficiency Frontier for Different Monetary Policy Response Parameters8. Temporary Fall in Risk Premium by 100 Basis Points; 9. Risk Premium Shock and Strength of Fiscal Policy Response; V. Conclusions; References.

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