Verfügbarkeit: Fiscal Stimulus with Spending Reversals

Fiscal Stimulus with Spending Reversals:

The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to a s...

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1. Verfasser:	Müller, Gernot (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2009
Schriftenreihe:	IMF Working Papers Working Paper No. 09/106
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 impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to a subsequent period of spending restraint. Accounting for such spending reversals brings an otherwise standard new Keynesian model in line with the stylized facts of fiscal transmission, including the crowding-in of consumption and the ''puzzle'' of real exchange rate depreciation. Time series evidence for the U.S. supports the empirical relevance of spending reversals
Beschreibung:	1 Online-Ressource (39 p)
ISBN:	1451872534 9781451872538

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spelling	Müller, Gernot Verfasser aut Fiscal Stimulus with Spending Reversals Müller, Gernot Washington, D.C International Monetary Fund 2009 1 Online-Ressource (39 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/106 The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to a subsequent period of spending restraint. Accounting for such spending reversals brings an otherwise standard new Keynesian model in line with the stylized facts of fiscal transmission, including the crowding-in of consumption and the ''puzzle'' of real exchange rate depreciation. Time series evidence for the U.S. supports the empirical relevance of spending reversals Online-Ausg Corsetti, Giancarlo Sonstige oth Meier, André Sonstige oth http://elibrary.imf.org/view/IMF001/10115-9781451872538/10115-9781451872538/10115-9781451872538.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Müller, Gernot Fiscal Stimulus with Spending Reversals
title	Fiscal Stimulus with Spending Reversals
title_auth	Fiscal Stimulus with Spending Reversals
title_exact_search	Fiscal Stimulus with Spending Reversals
title_exact_search_txtP	Fiscal Stimulus with Spending Reversals
title_full	Fiscal Stimulus with Spending Reversals Müller, Gernot
title_fullStr	Fiscal Stimulus with Spending Reversals Müller, Gernot
title_full_unstemmed	Fiscal Stimulus with Spending Reversals Müller, Gernot
title_short	Fiscal Stimulus with Spending Reversals
title_sort	fiscal stimulus with spending reversals
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