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Fiscal and monetary policy during downturns : evidence from the G7
Leigh, Daniel (Avtor), Stehn, Sven Jari (Avtor)

URLURL - Predstavitvena datoteka, za dostop obiščite http://www.imf.org/external/pubs/ft/wp/2009/wp0950.pdf Novo okno

Izvleček
This paper analyzes how fiscal and monetary policy typically respond during downturns in G7 countries. It evaluates whether discretionary fiscal responses to downturns are timely and temporary, and compares the response of fiscal policy to that of monetary policy. The results suggest that while responding more weakly and less quickly than monetary policy, discretionary fiscal policy is more timely than conventional wisdom would suggest, particularly in "Anglo-Saxon" countries, but the response differs substantially across fiscal instruments. Both fiscal and monetary policy are found to be subject to an easing bias, with more easing during downturns than tightening during upturns; and liable to easing in response to erroneously perceived downturns, many of which are subsequently revised to expansions.

Jezik:Angleški jezik
Ključne besede:razvite dežele, monetarna politika, fiskalna politika, stabilizacija, vlada, dohodek, odhodek, bilance, developed countries, monetary policy, fiscal policy, stabilization, government, income, expenses, balances
Vrsta gradiva:Delo ni kategorizirano (r6)
Organizacija:EF - Ekonomska fakulteta
Leto izida:2009
Založnik:International Monetary Fund
Št. strani:21 str.
Kraj:[Washington (D.C.)]
UDK:336.74
COBISS.SI-ID:19274726 Povezava se odpre v novem oknu
Število ogledov:415
Število prenosov:145
Metapodatki:XML RDF-CHPDL DC-XML DC-RDF
 
Skupna ocena:(0 glasov)
Vaša ocena:Ocenjevanje je dovoljeno samo prijavljenim uporabnikom.
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