How Small Should an Economy's Fiscal Deficit Be?: A Monetary Programming Approach
March 2000 - A spreadsheet planning model to help determine the government deficit consistent with a specified vector of country macroeconomic objectives. Beckerman describes a spreadsheet planning model to help determine the government deficit consistent with a policymaker's vector of principa...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
The World Bank
1999
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Schlagworte: | |
Online-Zugang: | Volltext |
Zusammenfassung: | March 2000 - A spreadsheet planning model to help determine the government deficit consistent with a specified vector of country macroeconomic objectives. Beckerman describes a spreadsheet planning model to help determine the government deficit consistent with a policymaker's vector of principal macroeconomic objectives (including real GDP growth, inflation, exchange rate, and international reserve accumulation). The model focuses on the monetary accounts, applying balance-of-payments forecasts formulated separately but based on the same macroeconomic objectives. The model is a consistency exercise, intended as part of a broader consistency exercise for a given macroeconomy. It offers one more perspective on the question of how large a government deficit should be - a perspective that can be used in conjunction with others. For each forecast period, the model determines consistent period-end and period-average stocks for the economy's outstanding central bank assets and liabilities and government obligations. It applies forecasting assumptions about interest rates to forecast central bank profit-and-loss flows, and takes account of these in determining the overall flow of resources that would be available to finance the government deficit. An annex describes a (purely illustrative) simulation carried out during 1999 for Ecuador. This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to strengthen the tools for macroeconomic policy analysis and planning in the region's economies. The author may be contacted at pbeckerman@worldbank.org |
Beschreibung: | Weitere Ausgabe: Beckerman, Paul : How Small Should an Economy's Fiscal Deficit Be? |
Beschreibung: | 1 Online-Ressource (38 Seiten) |
Internformat
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520 | 1 | |a March 2000 - A spreadsheet planning model to help determine the government deficit consistent with a specified vector of country macroeconomic objectives. Beckerman describes a spreadsheet planning model to help determine the government deficit consistent with a policymaker's vector of principal macroeconomic objectives (including real GDP growth, inflation, exchange rate, and international reserve accumulation). The model focuses on the monetary accounts, applying balance-of-payments forecasts formulated separately but based on the same macroeconomic objectives. The model is a consistency exercise, intended as part of a broader consistency exercise for a given macroeconomy. It offers one more perspective on the question of how large a government deficit should be - a perspective that can be used in conjunction with others. For each forecast period, the model determines consistent period-end and period-average stocks for the economy's outstanding central bank assets and liabilities and government obligations. It applies forecasting assumptions about interest rates to forecast central bank profit-and-loss flows, and takes account of these in determining the overall flow of resources that would be available to finance the government deficit. An annex describes a (purely illustrative) simulation carried out during 1999 for Ecuador. This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to strengthen the tools for macroeconomic policy analysis and planning in the region's economies. The author may be contacted at pbeckerman@worldbank.org | |
534 | |c 1999 | ||
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653 | |a Fiscal Defic Future | ||
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physical | 1 Online-Ressource (38 Seiten) |
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spellingShingle | Beckerman, Paul Ely How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach |
title | How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach |
title_auth | How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach |
title_exact_search | How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach |
title_full | How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach Beckerman, Paul |
title_fullStr | How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach Beckerman, Paul |
title_full_unstemmed | How Small Should an Economy's Fiscal Deficit Be? A Monetary Programming Approach Beckerman, Paul |
title_short | How Small Should an Economy's Fiscal Deficit Be? |
title_sort | how small should an economy s fiscal deficit be a monetary programming approach |
title_sub | A Monetary Programming Approach |
url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2308 |
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