Verfügbarkeit: Countering the Cycle

Countering the Cycle: The Effectiveness of Fiscal Policy in Korea

The Korean authorities having taken decisive and proactive fiscal measures to help stem the fallout from the current global economic and financial crisis, with the size of the fiscal stimulus well-above the average response of other G20 economies. In this context, a key question is how effective fis...

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1. Verfasser:	Eskesen, Leif Lybecker (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2009
Schriftenreihe:	IMF Working Papers Working Paper No. 09/249
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	The Korean authorities having taken decisive and proactive fiscal measures to help stem the fallout from the current global economic and financial crisis, with the size of the fiscal stimulus well-above the average response of other G20 economies. In this context, a key question is how effective fiscal policy is as a stabilization tool, especially considering the high openness of Korea''s economy. Results based on a macroeconomic model calibrated for Korea provide a strong case for using counter-cyclical fiscal policy, especially if measures appropriately focus on spending with a direct demand impact such as investment and targeted transfers. It also demonstrates the importance a complementary monetary response and the benefits to an open economy such as Korea''s of global coordination of fiscal stimulus
Beschreibung:	1 Online-Ressource (28 p)
ISBN:	1451873964 9781451873962

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spelling	Eskesen, Leif Lybecker Verfasser aut Countering the Cycle The Effectiveness of Fiscal Policy in Korea Eskesen, Leif Lybecker Washington, D.C International Monetary Fund 2009 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/249 The Korean authorities having taken decisive and proactive fiscal measures to help stem the fallout from the current global economic and financial crisis, with the size of the fiscal stimulus well-above the average response of other G20 economies. In this context, a key question is how effective fiscal policy is as a stabilization tool, especially considering the high openness of Korea''s economy. Results based on a macroeconomic model calibrated for Korea provide a strong case for using counter-cyclical fiscal policy, especially if measures appropriately focus on spending with a direct demand impact such as investment and targeted transfers. It also demonstrates the importance a complementary monetary response and the benefits to an open economy such as Korea''s of global coordination of fiscal stimulus Online-Ausg http://elibrary.imf.org/view/IMF001/10553-9781451873962/10553-9781451873962/10553-9781451873962.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Eskesen, Leif Lybecker Countering the Cycle The Effectiveness of Fiscal Policy in Korea
title	Countering the Cycle The Effectiveness of Fiscal Policy in Korea
title_auth	Countering the Cycle The Effectiveness of Fiscal Policy in Korea
title_exact_search	Countering the Cycle The Effectiveness of Fiscal Policy in Korea
title_exact_search_txtP	Countering the Cycle The Effectiveness of Fiscal Policy in Korea
title_full	Countering the Cycle The Effectiveness of Fiscal Policy in Korea Eskesen, Leif Lybecker
title_fullStr	Countering the Cycle The Effectiveness of Fiscal Policy in Korea Eskesen, Leif Lybecker
title_full_unstemmed	Countering the Cycle The Effectiveness of Fiscal Policy in Korea Eskesen, Leif Lybecker
title_short	Countering the Cycle
title_sort	countering the cycle the effectiveness of fiscal policy in korea
title_sub	The Effectiveness of Fiscal Policy in Korea
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