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Author: Laura Jaramillo Publisher: International Monetary Fund ISBN: 151358474X Category : Business & Economics Languages : en Pages : 30
Book Description
We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward.
Author: Laura Jaramillo Publisher: International Monetary Fund ISBN: 151358474X Category : Business & Economics Languages : en Pages : 30
Book Description
We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward.
Author: Dennis Petrus Johannes Botman Publisher: International Monetary Fund ISBN: Category : Fiscal policy Languages : en Pages : 54
Book Description
We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings.
Author: Richard Hemming Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 62
Book Description
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author: A. Bayar Publisher: ISBN: Category : Consumption (Economics) Languages : en Pages : 52
Book Description
Recoge: Evolución histórica de la teoría del consumo.- Tendencias actuales en las conductas de consumo en la comunidad.- Pautas que se vislumbran a mediano y largo plazo.- Simulación con un modelo.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344658 Category : Business & Economics Languages : en Pages : 257
Book Description
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: Mr.Philip R. Gerson Publisher: International Monetary Fund ISBN: 1451841604 Category : Business & Economics Languages : en Pages : 75
Book Description
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: Fawaz Ali Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The paper aims to study the relationship between private consumption expenditure and independent variables that include GDP, population number, interest rate, and inflation rate in Egypt during the period from 1955 to 2018 using the Autoregressive Distributed Lag Model The research also aims to study the effect of displacement between private consumption spending and government consumption spending using a model( ARDL) The study concluded that there is a positive and significant relationship between private consumption spending and both output and population in the long run. While there is an inverse and significant relationship between private consumer spending and both interest rates and government consumer spending in the long run. This supports the effect of the displacement between the private consumption agreement and government consumption spending in Egypt. In the short term, there is a positive and significant relationship between private consumption spending and both output and population. While there is an inverse relationship between consumer spending Private and short-term interest rate. Hence, the central bank can use monetary policy tools in order to influence the intermediate objective of monetary policy and influence private consumer spending and aggregate demand, as well as taxes can be used as one of the fiscal policy tools to influence disposable income in order to change private consumer spending and aggregate demand.
Author: Mr.Abdul Abiad Publisher: International Monetary Fund ISBN: 1484361555 Category : Business & Economics Languages : en Pages : 26
Book Description
This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
Author: Laura Jaramillo
Author: Laura Jaramillo
Author: Ginige Amala Chandini de Silvia
Author: Chiara Dalle Nogare
Author: Dennis Petrus Johannes Botman
Author: Richard Hemming
Author: A. Bayar
Author: International Monetary Fund
Author: Mr.Philip R. Gerson
Author: Fawaz Ali
Author: Mr.Abdul Abiad