Fundamental Determinants of the Effects of Fiscal Policy. IMF |
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Instituto de Investigaciones Económicas, UNAM Centro de Documentación e Información Programa de Servicios de Bancos de Información
INTER t i p s ... 2 0 0 6 en información económica Victor Medina
Fundamental Determinants of the Effects of Fiscal Policy. IMF, March 1, 2006
Author/Editor: | Botman, Dennis P. J. | Kumar, Manmohan S. | Authorized for Distribution: | March 1, 2006 | Electronic Access: | Full Text in PDF format. (PDF file size is 722KB) | Series: Working Paper No. 06/72
Summary: We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings.
Texto completo en formato pdf: http://www.imf.org/external/pubs/ft/wp/2006/wp0672.pdf
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