Macroeconomic Effects of EU Transfers in New Member States PDF (Adobe DRM) download by Celine Allard

Macroeconomic Effects of EU Transfers in New Member States

INTERNATIONAL MONETARY FUND
Publication date: June 2005
ISBN: 9781451870817
Digital Book format: PDF (Adobe DRM)

Buy PDF

List price:
$18.00
Our price:
$13.99

You save: $4.01 (22%)
GET THIS EBOOK
FOR FREE!
Join our Facebook sweepstake, share and
get 10 likes. Winners
get notified in 24H!
This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each period. With full asset market participation, the optimal policy relies entirely on the interest rate to stabilise cost-push shocks and government expenditure is not changed. When asset market participation is limited, there is a case for fiscal stabilisation policy. Active use of public spending raises aggregate welfare because it enables a more balanced distribution of the stabilisation burden across asset-holding and non-asset-holding consumers. The optimal response of government expenditure is sensitive to the financing scheme and whether the policymaker has access to a targeted transfer that can directly redistribute resources between consumers.
Please sign in to review this product.
Format:
Devices:
Macroeconomic Effects of EU Transfers in New Member States PDF (Adobe DRM) can be read on any device that can open PDF (Adobe DRM) files.

File Size:
541 Kb
Language:
ENG
Copy From Text:
Disabled.
Printing:
Disabled.
Other books by Celine Allard
Competitiveness in Central-Europe: What Has Happened Since EU Accession? PDF (Adobe DRM) download by Celine Allard
Competitiveness in Central-Europe: What Has Happened Since EU Accession?
Celine Allard
INTERNATIONAL MONETARY FUND, May 2004
ISBN: 9781451872682
Format: PDF
List Price: $18.00 Our price: $13.99