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Original Sin and Procylical Fiscal Policy.
The paper develops a simple model of sovereign debt where default both through direct repudiation and through inflation are possible and give rise to (endogenous) constraints on the currency composition and the level of public debt. This set up allows to show that procyclicality of fiscal policy in...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2008.
|
| Colección: | IMF Working Papers.
|
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 049 | |a UAMI | ||
| 100 | 1 | |a Adler, Gustavo. | |
| 245 | 1 | 0 | |a Original Sin and Procylical Fiscal Policy. |
| 260 | |a Washington : |b International Monetary Fund, |c 2008. | ||
| 300 | |a 1 online resource (29 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a 1. Introduction; 2. Model; 2.1 Households; 2.2 Firms; 2.3 Government; 2.4 Equilibrium Path; 3. The Ramsey Problem; 3.1 The Commitment Case; 3.2 No Commitment; 4. A Stationary Economy; 5. A Temporary Shock; 6. Concluding Remarks; Table; 1; Appendix; A; References. | |
| 520 | |a The paper develops a simple model of sovereign debt where default both through direct repudiation and through inflation are possible and give rise to (endogenous) constraints on the currency composition and the level of public debt. This set up allows to show that procyclicality of fiscal policy in EMEs can arise as a by-product of the ""original sin"" and both can be explained by the presence of weak monetary institutions which cannot commit to price stability. The paper suggests that, as monetary institutions in EMEs strengthen, the ""original sin"" would fade away and the cyclical propertie. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Fiscal policy |x Econometric models. | |
| 650 | 0 | |a Business cycles |x Econometric models. | |
| 650 | 0 | |a Financial crises |x Econometric models. | |
| 650 | 6 | |a Politique fiscale |x Modèles économétriques. | |
| 650 | 6 | |a Cycles économiques |x Modèles économétriques. | |
| 650 | 7 | |a Business cycles |x Econometric models |2 fast | |
| 650 | 7 | |a Financial crises |x Econometric models |2 fast | |
| 650 | 7 | |a Fiscal policy |x Econometric models |2 fast | |
| 758 | |i has work: |a Original Sin and Procylical Fiscal Policy (Text) |1 https://id.oclc.org/worldcat/entity/E39PCYBDYVKtpmgg3bh7WRXMmq |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Adler, Gustavo. |t Original Sin and Procylical Fiscal Policy: Two Sides of the Same Coin? |d Washington : International Monetary Fund, ©2008 |z 9781451870671 |
| 830 | 0 | |a IMF Working Papers. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608010 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL1608010 | ||
| 938 | |a YBP Library Services |b YANK |n 11617770 | ||
| 994 | |a 92 |b IZTAP | ||