Title of article :
Globaleffectsoffiscalstimulusduringthecrisis$
Author/Authors :
Charles Freedman، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2010
Abstract :
The IMF’sGlobalIntegratedMonetaryandFiscalModelisusedtocomputeshort-run
multipliersoffiscalstimulusmeasuresandlong-runcrowding-outeffectsofhigher
debt.Multipliersoftwo-yearstimulusrangefrom0.2to2.2dependingonthefiscal
instrument,theextentofmonetaryaccommodationandthepresenceofafinancial
acceleratormechanism.Apermanent10percentagepointincreaseintheUSdebtto
GDPratioraisestheUStaxburdenandworldrealinterestratesinthelongrun,thereby
reducingUSandrestoftheworldoutputby0.3–0.6percentand0.2–0.3percent,
respectively
Keywords :
Fiscal stimulusCrowding-outFinancial crisisNon-Ricardian householdsGovernment deficitsGovernment debtMacro-financial linkages
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
