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Monetary and Fiscal Policy Options for Dealing with External Shocks.

This paper utilizes an open-economy New Keynesian overlapping generations model, the Global Integrated Monetary and Fiscal Model (GIMF), to assess the macroeconomic effects of external shocks and the impact of various monetary and fiscal policy responses. The simulations assess the effect of shocks...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Flores, Enrique
Otros Autores: Leigh, Daniel, Clements, Benedict J.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Acceso en línea:Texto completo
Descripción
Sumario:This paper utilizes an open-economy New Keynesian overlapping generations model, the Global Integrated Monetary and Fiscal Model (GIMF), to assess the macroeconomic effects of external shocks and the impact of various monetary and fiscal policy responses. The simulations assess the effect of shocks to trade, world income, and risk premia for public debt. The results suggest that under Colombia's inflation targeting regime, which incorporates exchange rate flexibility and a highly responsive monetary policy, the economy is well poised to adjust to different external shocks. They also suggest th.
Notas:5. Macroeconomic Response to a Decline in the Demand for Colombian Exports under a Prolonged Financing ShockReferences.
Descripción Física:1 online resource (19 pages)
ISBN:9781451916416
1451916418
1451872062
9781451872064