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Budget Consolidation

Budget Consolidation »

Source: Budget Consolidation : Short-Term Pain and Long-Term Gain

Volume/Issue: 2010/163

Series: IMF Working Papers

Author(s): Douglas Laxton , Susanna Mursula , Kevin Clinton , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201464

Keywords: current account imbalances, tax reform, income taxes, consumption taxes, Open Economy Macroeconomics, International Policy Coordination and Transmission, Fiscal Policies and Behavior of Economic Agents: General,

The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget deficits lead to a co...

Criteria of External Sustainability

Criteria of External Sustainability »

Source: Criteria of External Sustainability

Volume/Issue: 1988/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 1988

ISBN: 9781451965209

Keywords: current account, current account balance, current account imbalances, foreign debt, current account imbalance

This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution...

Current Account and Real Exchange Rate Dynamics in the G-7 Countries

Current Account and Real Exchange Rate Dynamics in the G-7 Countries »

Source: Current Account and Real Exchange Rate Dynamics in the G-7 Countries

Volume/Issue: 2002/130

Series: IMF Working Papers

Author(s): Menzie Chinn , and Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

ISBN: 9781451855203

Keywords: real exchange rate, intertemporal models, permanent and temporary shocks, exchange rate, current account balance, exchange rates, Open Economy Macroeconomics,

The canonical predictions of intertemporal open-economy macro models are tested by a structural VAR analysis of Group of Seven countries. The analysis is distinguished from the previous literature in that it adopts...

Deer Hunting

Deer Hunting »

Source: Deer Hunting : Misalignment, Debt Accumulation, and Desired Equilibrium Exchange Rates

Volume/Issue: 1993/48

Series: IMF Working Papers

Author(s): Mark Taylor , and Michael Artis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1993

ISBN: 9781451972269

Keywords: exchange rate, exchange rate movement, real exchange rate, current account, annual exchange rate

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and conseque...

Budget Consolidation
			: Short-Term Pain and Long-Term Gain

Budget Consolidation : Short-Term Pain and Long-Term Gain »

Volume/Issue: 2010/163

Series: IMF Working Papers

Author(s): Douglas Laxton , Susanna Mursula , Kevin Clinton , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

DOI: http://dx.doi.org/10.5089/9781455201464.001

ISBN: 9781455201464

Keywords: current account imbalances, tax reform, income taxes, consumption taxes, Open Economy Macroeconomics, International Policy Coordination and Transmission, Fiscal Policies and Behavior of Economic Agents: General,

The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget deficits lead to a co...

Criteria of External Sustainability

Criteria of External Sustainability »

Volume/Issue: 1988/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 1988

DOI: http://dx.doi.org/10.5089/9781451965209.001

ISBN: 9781451965209

Keywords: current account, current account balance, current account imbalances, foreign debt, current account imbalance

This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution...

Current Account and Real Exchange Rate Dynamics in the G-7 Countries

Current Account and Real Exchange Rate Dynamics in the G-7 Countries »

Volume/Issue: 2002/130

Series: IMF Working Papers

Author(s): Menzie Chinn , and Jaewoo Lee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

DOI: http://dx.doi.org/10.5089/9781451855203.001

ISBN: 9781451855203

Keywords: real exchange rate, intertemporal models, permanent and temporary shocks, exchange rate, current account balance, exchange rates, Open Economy Macroeconomics,

The canonical predictions of intertemporal open-economy macro models are tested by a structural VAR analysis of Group of Seven countries. The analysis is distinguished from the previous literature in that it adopts...

Deer Hunting
			: Misalignment, Debt Accumulation, and Desired Equilibrium Exchange Rates

Deer Hunting : Misalignment, Debt Accumulation, and Desired Equilibrium Exchange Rates »

Volume/Issue: 1993/48

Series: IMF Working Papers

Author(s): Mark Taylor , and Michael Artis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1993

DOI: http://dx.doi.org/10.5089/9781451972269.001

ISBN: 9781451972269

Keywords: exchange rate, exchange rate movement, real exchange rate, current account, annual exchange rate

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and conseque...

Macroeconomic Uncertainty, Precautionary Savings and the Current Account

Macroeconomic Uncertainty, Precautionary Savings and the Current Account »

Volume/Issue: 1992/72

Series: IMF Working Papers

Author(s): Jonathan Ostry , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1992

DOI: http://dx.doi.org/10.5089/9781451959048.001

ISBN: 9781451959048

Keywords: current account surplus, current account surpluses, current accounts

The relationship between current account developments and changes in the macroeconomic environment remains a key issue in open economy macroeconomics. This paper extends the standard intertemporal optimizing model...

Robustness of Equilibrium Exchange Rate Calculations to Alternative Assumptions and Methodologies

Robustness of Equilibrium Exchange Rate Calculations to Alternative Assumptions and Methodologies »

Volume/Issue: 1994/17

Series: IMF Working Papers

Author(s): Peter Clark , Steven Symansky , Tamim Bayoumi , and Mark Taylor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1994

DOI: http://dx.doi.org/10.5089/9781451843477.001

ISBN: 9781451843477

Keywords: exchange rate, current account, exchange rates, effective exchange rate, real exchange rate

This paper explores a number of methodological issues that arise in the calculation of equilibrium exchange rates, which are identified in this paper as those real effective exchange rates consistent with macroecon...