أعرض تسجيلة المادة بشكل مبسط

dc.creator Matsen, Egil
dc.creator Sveen, Tommy
dc.creator Torvik, Ragnar
dc.date 2005
dc.date.accessioned 2013-10-16T07:02:46Z
dc.date.available 2013-10-16T07:02:46Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19082
dc.identifier ppn:509704581
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19082
dc.description This paper analyzes the effects of fiscal policy in an open economy. We extend the saversspenders theory of Mankiw (2000) to a small open economy with endogenous labor supply. We first show how the Dornbusch (1983) consumption-based real interest rate for open economies is modified when labor supply is endogenous. We then turn to the effects of fiscal policy when there are both savers and spenders. With this heterogeneity taken into account, tax cuts have a short-run contractionary effect on domestic production, and increased public spending has a short-run expansionary effect. Although consistent with recent empirical work, this result contrasts with those of most other theoretical models. Transitory changes in demand have permanent real effects in our model, and we discuss the implications for real exchange-rate dynamics. We also show how ?rational? savers may magnify or dampen the responses of ?irrational? spenders, and show how this is related to features of the utility functions.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1618
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E21
dc.subject F41
dc.subject E62
dc.subject ddc:330
dc.subject rule-of-thumb consumers
dc.subject fiscal policy
dc.subject open economy
dc.subject Kleines-offenes-Land
dc.subject Finanzpolitik
dc.subject Sparen
dc.subject Theorie
dc.title Savers, spenders and fiscal policy in a small open economy
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط