Sovereign debt risk premia and fiscal policy in Sweden:
This paper takes a step toward providing a general equilibrium framework within which to study the nub of the current fiscal debate around the world: what are the tradeoffs between short-run stabilization and long-run sustainability when the perceived riskiness of government debt depends, in part, o...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
c2010
|
| Schriftenreihe: | NBER working paper series
15810 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper takes a step toward providing a general equilibrium framework within which to study the nub of the current fiscal debate around the world: what are the tradeoffs between short-run stabilization and long-run sustainability when the perceived riskiness of government debt depends, in part, on the current and expected fiscal environment in place? We calibrate a simple model to Swedish fiscal data in two periods: before and after the financial crisis of the early 1990s. We compute the dynamic fiscal limit, which depends on the peak of the Laffer curve, for the pre-crisis and three alternative post-crisis fiscal policies. The model simulates the macroeconomic consequences of alternative policies in the face of the sequence of bad output shocks that Sweden experienced from 1991-1997 |
| Beschreibung: | "March 2010.". - Title from http://www.nber.org/papers/w15810 viewed Mar. 19, 2010 Includes bibliographical references (p. 40-45) |
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| 520 | |a This paper takes a step toward providing a general equilibrium framework within which to study the nub of the current fiscal debate around the world: what are the tradeoffs between short-run stabilization and long-run sustainability when the perceived riskiness of government debt depends, in part, on the current and expected fiscal environment in place? We calibrate a simple model to Swedish fiscal data in two periods: before and after the financial crisis of the early 1990s. We compute the dynamic fiscal limit, which depends on the peak of the Laffer curve, for the pre-crisis and three alternative post-crisis fiscal policies. The model simulates the macroeconomic consequences of alternative policies in the face of the sequence of bad output shocks that Sweden experienced from 1991-1997 | ||
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| language | English |
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| publishDate | 2010 |
| publishDateSearch | 2010 |
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| publisher | National Bureau of Economic Research |
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| spelling | Bi, Huixin Verfasser (DE-588)141027614 aut Sovereign debt risk premia and fiscal policy in Sweden Huixin Bi, ; Eric M. Leeper Cambridge, Mass. National Bureau of Economic Research c2010 txt rdacontent n rdamedia nc rdacarrier NBER working paper series 15810 "March 2010.". - Title from http://www.nber.org/papers/w15810 viewed Mar. 19, 2010 Includes bibliographical references (p. 40-45) This paper takes a step toward providing a general equilibrium framework within which to study the nub of the current fiscal debate around the world: what are the tradeoffs between short-run stabilization and long-run sustainability when the perceived riskiness of government debt depends, in part, on the current and expected fiscal environment in place? We calibrate a simple model to Swedish fiscal data in two periods: before and after the financial crisis of the early 1990s. We compute the dynamic fiscal limit, which depends on the peak of the Laffer curve, for the pre-crisis and three alternative post-crisis fiscal policies. The model simulates the macroeconomic consequences of alternative policies in the face of the sequence of bad output shocks that Sweden experienced from 1991-1997 Fiscal policy / Sweden Wirtschaft Ökonometrisches Modell Sweden / Economic conditions / Econometric models Schweden Leeper, Eric M. Verfasser (DE-588)124565913 aut NBER working paper series 15810 (DE-604)BV002801238 15810 http://www.nber.org/papers/w15810 kostenfrei Volltext |
| spellingShingle | Bi, Huixin Leeper, Eric M. Sovereign debt risk premia and fiscal policy in Sweden NBER working paper series Fiscal policy / Sweden Wirtschaft Ökonometrisches Modell |
| title | Sovereign debt risk premia and fiscal policy in Sweden |
| title_auth | Sovereign debt risk premia and fiscal policy in Sweden |
| title_exact_search | Sovereign debt risk premia and fiscal policy in Sweden |
| title_full | Sovereign debt risk premia and fiscal policy in Sweden Huixin Bi, ; Eric M. Leeper |
| title_fullStr | Sovereign debt risk premia and fiscal policy in Sweden Huixin Bi, ; Eric M. Leeper |
| title_full_unstemmed | Sovereign debt risk premia and fiscal policy in Sweden Huixin Bi, ; Eric M. Leeper |
| title_short | Sovereign debt risk premia and fiscal policy in Sweden |
| title_sort | sovereign debt risk premia and fiscal policy in sweden |
| topic | Fiscal policy / Sweden Wirtschaft Ökonometrisches Modell |
| topic_facet | Fiscal policy / Sweden Wirtschaft Ökonometrisches Modell Sweden / Economic conditions / Econometric models Schweden |
| url | http://www.nber.org/papers/w15810 |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT bihuixin sovereigndebtriskpremiaandfiscalpolicyinsweden AT leeperericm sovereigndebtriskpremiaandfiscalpolicyinsweden |