Fiscal Policies And Growth In The World Economy

Author : Jacob A. Frenkel,Assaf Razin
Publisher : MIT Press
Page : 668 pages
File Size : 40,5 Mb
Release : 1996
Category : Business & Economics
ISBN : 0262561042

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Fiscal Policies and Growth in the World Economy by Jacob A. Frenkel,Assaf Razin Pdf

Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview. Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended. Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy, especially the convergence of income and growth levels across countries.

Author : Cheryl Williamson Gray,Tracey Lane,Aristomène Varoudakis
Publisher : World Bank Publications
Page : 358 pages
File Size : 42,8 Mb
Release : 2007
Category : Political Science
ISBN : 9780821371824

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Fiscal Policy and Economic Growth by Cheryl Williamson Gray,Tracey Lane,Aristomène Varoudakis Pdf

Worldwide experience highlights public finance policies that promote economic growth while meeting the need for fundamental public goods. Macroeconomic stability is essential, as large budget deficits retard growth, followed by moderate levels of public spending - around one-third of GDP or less - especially when governance and public administration are weak; that in turn requires efficiency, particularly in areas such as infrastructure, health, education, and social protection; finally, lower income and payroll tax rates can spur investment and employment. The Eastern European and Central Asia countries pioneered flat income taxes without generally suffering revenue losses as a result, but they have not addressed the problem of high payroll taxes and still face many hurdles in improving the efficiency and effectiveness of public spending and revenue generation.

Author : Mr.Vito Tanzi,Mr.Howell H. Zee
Publisher : International Monetary Fund
Page : 36 pages
File Size : 53,5 Mb
Release : 1996-10-01
Category : Business & Economics
ISBN : 9781451854121

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Fiscal Policy and Long-Run Growth by Mr.Vito Tanzi,Mr.Howell H. Zee Pdf

This paper discusses in a systematic and comprehensive way the existing literature on the relationship between the growth of countries’ economies and various public finance instruments, such as tax policy, expenditure policy, and overall budgetary policy, from the perspectives of allocative efficiency, macroeconomic stability, and income distribution. It reviews both the conceptual linkages between each of the instruments and growth and the empirical evidence on such relationships. It broadly concludes that fiscal policy could play a fundamental role in affecting the long-run growth performance of countries.

Author : Delano Villanueva
Publisher : International Monetary Fund
Page : 36 pages
File Size : 54,5 Mb
Release : 1993-07-01
Category : Business & Economics
ISBN : 9781451965780

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Openness, Human Development, and Fiscal Policies by Delano Villanueva Pdf

The model developed here postulates that learning through experience plays a critical role in raising labor productivity over time, with three major consequences. First, the steady-state growth rate (of output) becomes endogenous and is influenced by government policies. Second, the speed of adjustment to steady-state growth is faster, and enhanced learning further reduces adjustment time. Third, both steady-state growth and the optimal net rate of return to capital are higher than the sum of exogenous rates of technical change and population growth. Simulation results confirm the model’s faster speed of adjustment, while regression analysis explains a large part of divergent growth patterns across countries in terms of the extent of openness and human development and of the quality of fiscal policies.

Author : Farrokh Langdana
Publisher : Springer Science & Business Media
Page : 298 pages
File Size : 52,6 Mb
Release : 2009-04-05
Category : Business & Economics
ISBN : 9780387776668

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Macroeconomic Policy by Farrokh Langdana Pdf

This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 257 pages
File Size : 47,5 Mb
Release : 2015-04-20
Category : Business & Economics
ISBN : 9781498344654

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Fiscal Policy and Long-Term Growth by International Monetary Fund Pdf

This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

Author : Horst Siebert
Publisher : Springer Science & Business Media
Page : 364 pages
File Size : 51,7 Mb
Release : 2004-08-02
Category : Business & Economics
ISBN : 354021917X

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Macroeconomic Policies in the World Economy by Horst Siebert Pdf

The integration of goods and financial markets has progressed on a global scale in recent years. Thus, the cyclical patterns in the world economy may have changed too. Against this background, experts in international economics analyze the synchronization of business cycles and their volatility in this book. Is there an European business cycle? What is the role of multinational corporations and monetary policy in transmitting business cycles? Further, they discuss the need and feasibility of internationally coordinating monetary and exchange rate policies and the quantitative effects of tax competition.

Author : Mr.Philip R. Gerson
Publisher : International Monetary Fund
Page : 75 pages
File Size : 43,9 Mb
Release : 1998-01-01
Category : Business & Economics
ISBN : 9781451841602

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The Impact of Fiscal Policy Variables on Output Growth by Mr.Philip R. Gerson Pdf

This paper surveys the theoretical and empirical literature on the relationship between taxation and public expenditure and economic growth. Particular attention is paid to the effect of taxation and government expenditure on the supply and productivity of labor and physical capital. Studies suggest that well-targeted government expenditures on health, education, and infrastructure should have a positive impact on growth. By contrast, the impact of taxation on the supplies of labor and capital, and on output growth, is more muted.

Author : Jacob A. Frenkel
Publisher : Unknown
Page : 128 pages
File Size : 54,9 Mb
Release : 1986
Category : Electronic
ISBN : OCLC:600415269

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Fiscal Policies in the World Economy by Jacob A. Frenkel Pdf

Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 285 pages
File Size : 55,7 Mb
Release : 2012-11-15
Category : Business & Economics
ISBN : 9780821396315

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Is Fiscal Policy the Answer? by Blanca Moreno-Dodson Pdf

The effects of fiscal policy measures, both taxes and public spending, adopted by developing countries in response to the 2009 global crisis are still uncertain. This book discusses them using an analytical framework that allows for distilling possible implications on growth and social welfare.

Author : Mr.Mario I. Bléjer,Mr.Ke-young Chu
Publisher : International Monetary Fund
Page : 404 pages
File Size : 41,8 Mb
Release : 1989-06-15
Category : Business & Economics
ISBN : 1557750343

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Fiscal Policy, Stabilization, and Growth in Developing Countries by Mr.Mario I. Bléjer,Mr.Ke-young Chu Pdf

Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 40 pages
File Size : 53,5 Mb
Release : 1988-08-04
Category : Business & Economics
ISBN : 9781451960235

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International Coordination of Fiscal Policies by International Monetary Fund Pdf

International coordination of macroeconomic policies has attracted much attention in recent years. The main issue has been whether economic performance can be improved by coordination Although it is still a controversial issue many economists have argued that coordination would make a positive contribution to economic performance. This paper deals with the requirements for successful fiscal coordination. It concludes that those requirements are such that the best fiscal policies that countries can pursue are those aimed at putting their houses in order.

Author : Mr.Benedict J. Clements,Ruud A. de Mooij,Mr.Sanjeev Gupta,Mr.Michael Keen
Publisher : International Monetary Fund
Page : 450 pages
File Size : 55,6 Mb
Release : 2015-09-21
Category : Business & Economics
ISBN : 9781513567754

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Inequality and Fiscal Policy by Mr.Benedict J. Clements,Ruud A. de Mooij,Mr.Sanjeev Gupta,Mr.Michael Keen Pdf

The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.

Author : Leightner Jonathan Edward
Publisher : World Scientific
Page : 304 pages
File Size : 53,6 Mb
Release : 2014-09-05
Category : Business & Economics
ISBN : 9789814571890

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Limits Of Fiscal, Monetary, And Trade Policies, The: International Comparisons And Solutions by Leightner Jonathan Edward Pdf

Sixteen countries across the world — including the United States and many European nations — have fallen into economic crises since the late 1990s. In The Limits of Fiscal, Monetary, and Trade Policies: International Comparisons and Solutions, Jonathan E Leightner convincingly argues that the fundamental cause of the global malaise is a surplus of savings. He provides compelling evidence (via statistical estimates) that fiscal, monetary, and trade policies cannot solve the resulting problems since their effectiveness has plummeted. Leightner also shows that the solution to the current global economic woes is a “consumption driven growth model” (which China advocates but has yet to fully implement) because when there is insufficient consumption, excess savings will remain idle, seek a return from rent or deception, or fund speculative bubbles.

Author : Mr.Benedict J. Clements,Ruud A. de Mooij,Mr.Sanjeev Gupta,Mr.Michael Keen
Publisher : International Monetary Fund
Page : 32 pages
File Size : 46,8 Mb
Release : 2015-09-09
Category : Business & Economics
ISBN : 9781513521541

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Excerpt: Inequality and Fiscal Policy by Mr.Benedict J. Clements,Ruud A. de Mooij,Mr.Sanjeev Gupta,Mr.Michael Keen Pdf

This paper is an excerpt from Inequality and Fiscal Policy. The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought issues on equity and distribution to the top of the policy agenda. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects household consumption directly and indirectly. An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country case studies demonstrate the diversity of challenges and the diverging ways to use fiscal policy for redistribution. The analysis presented in the book builds on work by IMF economists and leading academics.