Successful austerity in the United States, Europe and Japan:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.]
International Monetary Fund
©2012
|
| Schriftenreihe: | IMF working paper
WP/12/190 |
| Schlagworte: | |
| Online-Zugang: | FAW01 FAW02 FLA01 |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed Jul. 26, 2012). - "EUR.". - "July 2012." The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the United States, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities of recessions derived in association with different-sized and different types of consolidation shocks (expenditure- versus tax-based). We use these estimates to understand how consolidations should be designed to be most effective in terms of permanently and rapidly reducing a country's debt-to-GDP ratio. The main finding is that smooth and gradual consolidations are to be preferred to front loaded or aggressive consolidations, especially for economies in recession facing high risk premia on public debt, because sheltering growth is key to the success of fiscal consolidation in these cases Includes bibliographical references (pages 33-37) |
| Beschreibung: | 60 pages |
| ISBN: | 1475537921 9781475537925 |
Internformat
MARC
| LEADER | 00000nmm a2200000zcb4500 | ||
|---|---|---|---|
| 001 | BV043960017 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 161213s2012 |||| o||u| ||||||eng d | ||
| 020 | |a 1475537921 |9 1-4755-3792-1 | ||
| 020 | |a 9781475537925 |9 978-1-4755-3792-5 | ||
| 035 | |a (ZDB-4-EBA)ocn801825281 | ||
| 035 | |a (OCoLC)801825281 | ||
| 035 | |a (DE-599)BVBBV043960017 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-1047 |a DE-1046 | ||
| 082 | 0 | |a 339.52 |2 23 | |
| 100 | 1 | |a Batini, Nicoletta |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Successful austerity in the United States, Europe and Japan |c prepared by Nicoletta Batini, Giovanni Callegari and Giovanni Melina |
| 264 | 1 | |a [Washington, D.C.] |b International Monetary Fund |c ©2012 | |
| 300 | |a 60 pages | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a IMF working paper |v WP/12/190 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed Jul. 26, 2012). - "EUR.". - "July 2012." | ||
| 500 | |a The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the United States, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities of recessions derived in association with different-sized and different types of consolidation shocks (expenditure- versus tax-based). We use these estimates to understand how consolidations should be designed to be most effective in terms of permanently and rapidly reducing a country's debt-to-GDP ratio. The main finding is that smooth and gradual consolidations are to be preferred to front loaded or aggressive consolidations, especially for economies in recession facing high risk premia on public debt, because sheltering growth is key to the success of fiscal consolidation in these cases | ||
| 500 | |a Includes bibliographical references (pages 33-37) | ||
| 650 | 7 | |a BUSINESS & ECONOMICS / Economics / Macroeconomics |2 bisacsh | |
| 650 | 7 | |a POLITICAL SCIENCE / Economic Conditions |2 bisacsh | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Ökonometrisches Modell | |
| 650 | 4 | |a Multiplier (Economics) |x Econometric models | |
| 650 | 4 | |a Fiscal policy |z United States |x Econometric models | |
| 650 | 4 | |a Fiscal policy |z Europe |x Econometric models | |
| 650 | 4 | |a Fiscal policy |z Japan |x Econometric models | |
| 651 | 4 | |a Europa | |
| 651 | 4 | |a USA | |
| 700 | 1 | |a Callegari, Giovanni |e Sonstige |4 oth | |
| 700 | 1 | |a Melina, Giovanni |e Sonstige |4 oth | |
| 710 | 2 | |a International Monetary Fund |e Sonstige |4 oth | |
| 912 | |a ZDB-4-EBA | ||
| 999 | |a oai:aleph.bib-bvb.de:BVB01-029368721 | ||
| 966 | e | |u http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568195 |l FAW01 |p ZDB-4-EBA |q FAW_PDA_EBA |x Aggregator |3 Volltext | |
| 966 | e | |u http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568195 |l FAW02 |p ZDB-4-EBA |q FAW_PDA_EBA |x Aggregator |3 Volltext | |
| 966 | e | |u http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568195 |l FLA01 |p ZDB-4-EBA |q FLA_PDA_EBA |x Aggregator |3 Volltext | |
Datensatz im Suchindex
| _version_ | 1804176916424425472 |
|---|---|
| any_adam_object | |
| author | Batini, Nicoletta |
| author_facet | Batini, Nicoletta |
| author_role | aut |
| author_sort | Batini, Nicoletta |
| author_variant | n b nb |
| building | Verbundindex |
| bvnumber | BV043960017 |
| collection | ZDB-4-EBA |
| ctrlnum | (ZDB-4-EBA)ocn801825281 (OCoLC)801825281 (DE-599)BVBBV043960017 |
| dewey-full | 339.52 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 339 - Macroeconomics and related topics |
| dewey-raw | 339.52 |
| dewey-search | 339.52 |
| dewey-sort | 3339.52 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03366nmm a2200541zcb4500</leader><controlfield tag="001">BV043960017</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">161213s2012 |||| o||u| ||||||eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">1475537921</subfield><subfield code="9">1-4755-3792-1</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9781475537925</subfield><subfield code="9">978-1-4755-3792-5</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-4-EBA)ocn801825281</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)801825281</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV043960017</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-1047</subfield><subfield code="a">DE-1046</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">339.52</subfield><subfield code="2">23</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Batini, Nicoletta</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Successful austerity in the United States, Europe and Japan</subfield><subfield code="c">prepared by Nicoletta Batini, Giovanni Callegari and Giovanni Melina</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">[Washington, D.C.]</subfield><subfield code="b">International Monetary Fund</subfield><subfield code="c">©2012</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">60 pages</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">IMF working paper</subfield><subfield code="v">WP/12/190</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Title from PDF title page (IMF Web site, viewed Jul. 26, 2012). - "EUR.". - "July 2012."</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the United States, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities of recessions derived in association with different-sized and different types of consolidation shocks (expenditure- versus tax-based). We use these estimates to understand how consolidations should be designed to be most effective in terms of permanently and rapidly reducing a country's debt-to-GDP ratio. The main finding is that smooth and gradual consolidations are to be preferred to front loaded or aggressive consolidations, especially for economies in recession facing high risk premia on public debt, because sheltering growth is key to the success of fiscal consolidation in these cases</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references (pages 33-37)</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">BUSINESS & ECONOMICS / Economics / Macroeconomics</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">POLITICAL SCIENCE / Economic Conditions</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Wirtschaft</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Ökonometrisches Modell</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Multiplier (Economics)</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Fiscal policy</subfield><subfield code="z">United States</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Fiscal policy</subfield><subfield code="z">Europe</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Fiscal policy</subfield><subfield code="z">Japan</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">Europa</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">USA</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Callegari, Giovanni</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Melina, Giovanni</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="710" ind1="2" ind2=" "><subfield code="a">International Monetary Fund</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-4-EBA</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-029368721</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568195</subfield><subfield code="l">FAW01</subfield><subfield code="p">ZDB-4-EBA</subfield><subfield code="q">FAW_PDA_EBA</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568195</subfield><subfield code="l">FAW02</subfield><subfield code="p">ZDB-4-EBA</subfield><subfield code="q">FAW_PDA_EBA</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568195</subfield><subfield code="l">FLA01</subfield><subfield code="p">ZDB-4-EBA</subfield><subfield code="q">FLA_PDA_EBA</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| geographic | Europa USA |
| geographic_facet | Europa USA |
| id | DE-604.BV043960017 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:39:47Z |
| institution | BVB |
| isbn | 1475537921 9781475537925 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029368721 |
| oclc_num | 801825281 |
| open_access_boolean | |
| owner | DE-1047 DE-1046 |
| owner_facet | DE-1047 DE-1046 |
| physical | 60 pages |
| psigel | ZDB-4-EBA ZDB-4-EBA FAW_PDA_EBA ZDB-4-EBA FLA_PDA_EBA |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF working paper |
| spelling | Batini, Nicoletta Verfasser aut Successful austerity in the United States, Europe and Japan prepared by Nicoletta Batini, Giovanni Callegari and Giovanni Melina [Washington, D.C.] International Monetary Fund ©2012 60 pages txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/12/190 Title from PDF title page (IMF Web site, viewed Jul. 26, 2012). - "EUR.". - "July 2012." The output effects of 2009 fiscal expansions have been hotly debated. But the discussion of fiscal multipliers is even more relevant now that several European countries have had to quickly retract their stimulus measures in an effort to regain market confidence. Using regime-switching VARs we estimate the impact of fiscal adjustment on the United States, Europe and Japan allowing for fiscal multipliers to vary across recessions and booms. We also estimate ex ante probabilities of recessions derived in association with different-sized and different types of consolidation shocks (expenditure- versus tax-based). We use these estimates to understand how consolidations should be designed to be most effective in terms of permanently and rapidly reducing a country's debt-to-GDP ratio. The main finding is that smooth and gradual consolidations are to be preferred to front loaded or aggressive consolidations, especially for economies in recession facing high risk premia on public debt, because sheltering growth is key to the success of fiscal consolidation in these cases Includes bibliographical references (pages 33-37) BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh Wirtschaft Ökonometrisches Modell Multiplier (Economics) Econometric models Fiscal policy United States Econometric models Fiscal policy Europe Econometric models Fiscal policy Japan Econometric models Europa USA Callegari, Giovanni Sonstige oth Melina, Giovanni Sonstige oth International Monetary Fund Sonstige oth |
| spellingShingle | Batini, Nicoletta Successful austerity in the United States, Europe and Japan BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh Wirtschaft Ökonometrisches Modell Multiplier (Economics) Econometric models Fiscal policy United States Econometric models Fiscal policy Europe Econometric models Fiscal policy Japan Econometric models |
| title | Successful austerity in the United States, Europe and Japan |
| title_auth | Successful austerity in the United States, Europe and Japan |
| title_exact_search | Successful austerity in the United States, Europe and Japan |
| title_full | Successful austerity in the United States, Europe and Japan prepared by Nicoletta Batini, Giovanni Callegari and Giovanni Melina |
| title_fullStr | Successful austerity in the United States, Europe and Japan prepared by Nicoletta Batini, Giovanni Callegari and Giovanni Melina |
| title_full_unstemmed | Successful austerity in the United States, Europe and Japan prepared by Nicoletta Batini, Giovanni Callegari and Giovanni Melina |
| title_short | Successful austerity in the United States, Europe and Japan |
| title_sort | successful austerity in the united states europe and japan |
| topic | BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh Wirtschaft Ökonometrisches Modell Multiplier (Economics) Econometric models Fiscal policy United States Econometric models Fiscal policy Europe Econometric models Fiscal policy Japan Econometric models |
| topic_facet | BUSINESS & ECONOMICS / Economics / Macroeconomics POLITICAL SCIENCE / Economic Conditions Wirtschaft Ökonometrisches Modell Multiplier (Economics) Econometric models Fiscal policy United States Econometric models Fiscal policy Europe Econometric models Fiscal policy Japan Econometric models Europa USA |
| work_keys_str_mv | AT batininicoletta successfulausterityintheunitedstateseuropeandjapan AT callegarigiovanni successfulausterityintheunitedstateseuropeandjapan AT melinagiovanni successfulausterityintheunitedstateseuropeandjapan AT internationalmonetaryfund successfulausterityintheunitedstateseuropeandjapan |