Fiscal Policy and Development
نویسندگان
چکیده
منابع مشابه
Commentary: Fiscal Policy and the Fiscal Position
As economics has developed, a number of different fiscal principles have been suggested. Perhaps the oldest principle was that the Government should balance its books. This principle was adopted by the 1979 Conservative Government but they delivered a budget in balance or in surplus only in 1988/89 and 1989/90. The same principle has been adopted in the Stability and Growth Pact, albeit with an...
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This paper explores the interaction between fiscal policy and unemployment. It develops a novel dynamic model in which unemployment can arise but can be mitigated by tax cuts and public spending increases. Such policies are fiscally costly, but can be financed by issuing government debt. In the context of this model, the paper analyzes the simultaneous determination of fiscal policy and unemplo...
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Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers for government purchases are significantly higher under learning, and fall within empirical bounds reported in the literature (in sharp contrast to the implausibly low values ...
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The last two decades of the 20 century have seen major shifts in the size of cross-border capital flows (see figure 1.). FDI flows to developing countries and economies in transition have proved to be the source of economic growth. FDI inward increased from 50,1 billions of dollars annual average in 1985-95 to 199 billions in 1998 and 207 billions in 1999. In same time, FDI inward stocks increa...
متن کاملMonetary Policy, Labor Markets, and Fiscal Policy
The argument behind the first proposition is very general. The argument behind the second proposition is model dependent. It is exactly true in some of the simpler models we use to think about monetary policy, such as the benchmark New-Keynesian model. In that model, there is, as Jordi Gali and I have christened it, a “divine coincidence”: Stabilizing inflation in the face of either taste or te...
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ژورنال
عنوان ژورنال: Staff Discussion Notes
سال: 2019
ISSN: 2221-030X
DOI: 10.5089/9781484388914.006