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Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid

Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid »

Volume/Issue: 2019/126

Series: IMF Working Papers

Author(s): Ioana Moldovan , Shu-Chun Susan Yang , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2019

DOI: http://dx.doi.org/10.5089/9781498312110.001

ISBN: 9781498312110

Keywords: Absorptive capacity, Private consumption, Real interest rates, Government consumption, Public goods, aid, fiscal policy, foreign exchange intervention, optimal policy, low-income countries.

This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical features of lo...

Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid

Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid »

Source: Optimal Fiscal Spending and Reserve Accumulation Policies under Volatile Aid

Volume/Issue: 2019/126

Series: IMF Working Papers

Author(s): Ioana Moldovan , Shu-Chun Susan Yang , and Luis-Felipe Zanna

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2019

ISBN: 9781498312110

Keywords: Absorptive capacity, Private consumption, Real interest rates, Government consumption, Public goods, aid, fiscal policy, foreign exchange intervention, optimal policy, low-income countries.

This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical features of lo...