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Nonrenewable Resources

Nonrenewable Resources »

Source: Nonrenewable Resources : A Case for Persistent Fiscal Surpluses

Volume/Issue: 1999/44

Series: IMF Working Papers

Author(s): Max Alier , and Martin Kaufman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1999

ISBN: 9781451846393

Keywords: nonrenewable resources, intergenerational transfer, overlapping generation model, expenditure, government expenditure, fiscal surpluses, public expenditure

This paper examines whether there is a case for temporary but persistent fiscal surpluses in economies heavily endowed with nonrenewable resources. It finds that there generally is a case. Fiscal surpluses permit r...

Intergenerational Implications of Fiscal Consolidation in Japan

Intergenerational Implications of Fiscal Consolidation in Japan »

Source: Intergenerational Implications of Fiscal Consolidation in Japan

Volume/Issue: 2012/197

Series: IMF Working Papers

Author(s): Kiichi Tokuoka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505474

Keywords: Intergenerational inequality, Fiscal consolidation, Overlapping generations model, pension, pension benefits, public pension, pension contribution

In Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse t...

On Impatience and Policy Effectiveness

On Impatience and Policy Effectiveness »

Source: On Impatience and Policy Effectiveness

Volume/Issue: 2009/18

Series: IMF Working Papers

Author(s): Silvia Sgherri , and Tamim Bayoumi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

ISBN: 9781451871654

Keywords: Discount Rate, Overlapping Generations Model, equation, labor income, real interest rate, disposable income, aggregate consumption,

An increasing body of evidence suggests that the behavior of the economy has changed in many fundamental ways over the last decades. In particular, greater financial deregulation, larger wealth accumulation, and be...

Migration and Pension1

Migration and Pension1 »

Source: Migration and Pension

Volume/Issue: 1998/165

Series: IMF Working Papers

Author(s): Efraim Sadka , and Assaf Razin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451980011

Keywords: Low Skilled Migrants, Pay-As-You-Go Pension, Heterogenous Population, Overlapping Generations, migration, pension, pension system, pension benefit, retirement

Migrants, being relatively low earners, are net beneficiaries of the welfare state. However, this paper uses a dynamic model to show that because of migrants’ positive influence on the pension system, which...

Unemployment Persistence and Capital Shortage

Unemployment Persistence and Capital Shortage »

Source: Unemployment Persistence and Capital Shortage : The Case of Trinidad and Tobago

Volume/Issue: 1997/77

Series: IMF Working Papers

Author(s): Benedikt Braumann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1997

ISBN: 9781451956719

Keywords: Unemployment persistence, capital shortage, overlapping generations, savings, investment, monopolistic competition, real wages, wages, unemployment, employment

This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with endogenous labor supply and imperfect competition is presented. It is used to interpret the unu...

The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model

The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model »

Source: The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model

Volume/Issue: 1998/182

Series: IMF Working Papers

Author(s): Ben Heijdra , and Jenny Ligthart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451859249

Keywords: Blanchard model, intertemporal labor supply, overlapping generations, tax incidence, consumption tax, capital stock, consumption taxes, capital income, aggregate consumption

The paper studies the dynamic allocation effects of tax policy in the context of an overlapping generations model of the Blanchard-Yaari type. The model is extended to allow for endogenous labor supply and three ta...

The Composition of Fiscal Consolidation Matters

The Composition of Fiscal Consolidation Matters »

Source: The Composition of Fiscal Consolidation Matters : Policy Simulations for Hungary

Volume/Issue: 2013/207

Series: IMF Working Papers

Author(s): Alejandro Guerson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 October 2013

ISBN: 9781484305225

Keywords: DSGE models, overlapping generations households, liquidity constrained households, financial accelerator, macro-financial linkages, investment, goods, consumption, gdp, taxes

This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determine...

Global Aging and Fiscal Policy with International Labor Mobility

Global Aging and Fiscal Policy with International Labor Mobility »

Source: Global Aging and Fiscal Policy with International Labor Mobility : A Political Economy Perspective

Volume/Issue: 2005/140

Series: IMF Working Papers

Author(s): Mehmet Tosun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

ISBN: 9781451861594

Keywords: population aging, overlapping generations, endogenous fiscal policy, international labor mobility, international capital mobility, aging, labor mobility, social security, labor migration, Economic Growth of Open Economies

This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the politic...

The Global Integrated Monetary and Fiscal Model (GIMF) - Theoretical Structure

The Global Integrated Monetary and Fiscal Model (GIMF) - Theoretical Structure »

Source: The Global Integrated Monetary and Fiscal Model (GIMF) - Theoretical Structure

Volume/Issue: 2010/34

Series: IMF Working Papers

Author(s): Douglas Laxton , Susanna Mursula , Michael Kumhof , and Dirk Muir

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962734

Keywords: Fiscal Policy Rules, Monetary Policy Rules, Multi-Region DSGE Models, Overlapping Generations Households, Liquidity Constrained Households, Financial Accelerator, Macro-Financial Linkages, Raw Materials Sector, investment goods, fiscal stimulus

This working paper presents a comprehensive overview of the theoretical structure of the Global Integrated Monetary and Fiscal Model (GIMF), a multi-region dynamic general equilibrium model that is used by the IMF...

Nonrenewable Resources
			: A Case for Persistent Fiscal Surpluses

Nonrenewable Resources : A Case for Persistent Fiscal Surpluses »

Volume/Issue: 1999/44

Series: IMF Working Papers

Author(s): Max Alier , and Martin Kaufman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1999

DOI: http://dx.doi.org/10.5089/9781451846393.001

ISBN: 9781451846393

Keywords: nonrenewable resources, intergenerational transfer, overlapping generation model, expenditure, government expenditure, fiscal surpluses, public expenditure

This paper examines whether there is a case for temporary but persistent fiscal surpluses in economies heavily endowed with nonrenewable resources. It finds that there generally is a case. Fiscal surpluses permit r...