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Thursday, August 6, 2020 | History

2 edition of Essays on optimal fiscal policy in a small open economy. found in the catalog.

Essays on optimal fiscal policy in a small open economy.

Constantine Angyridis

Essays on optimal fiscal policy in a small open economy.

by Constantine Angyridis

  • 356 Want to read
  • 21 Currently reading

Published .
Written in English


The Physical Object
Pagination120 leaves.
Number of Pages120
ID Numbers
Open LibraryOL19475051M
ISBN 100494027738

Fiscal and Monetary Policy Essay Fiscal and Monetary Policy Essay In order to achieve economic objectives, fiscal and monetary policies are implemented by the government. Monetary policy is used . Monetary and Fiscal Policy Analyses in Estimated DSGE Models Dissertation economic agents, and that optimal decision Chapter 4, The Effects of Fiscal Policy in an Estimated DSGE Model – The .

Fiscal policy is an important tool for managing the economy because of its ability to affect the total amount of output produced that is, gross domestic product. The first impact of a fiscal expansion is to . In this paper we develop a model of optimal fiscal policy for a small open economy that is able to rationalize the previous set of facts. To this end, we introduce limited commitment in a model of international risk sharing à la Marcet and Marimon () and Kehoe and Perri (), where countries set their fiscal policy Cited by: 3.

Fiscal Policy and Optimal Tax in a Small-Open Economy Youthapoom Charusreni Submitted for the degree of Doctor of Philosophy September Abstract The thesis studies the e⁄ect of –scal policy on a small-open economy . out joint analyses of fiscal policy indicators from all three essays and implied overall fiscal policy recommendations. Research proposed within Essays on Effects of Fiscal Policy on Economic Activity is motivated by: 1. fluctuation of popularity of fiscal policy File Size: KB.


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Essays on optimal fiscal policy in a small open economy by Constantine Angyridis Download PDF EPUB FB2

In this dissertation I study how economic activity outside of government control --informality-- impacts policy-making in a small open economy. I also study the impact of labor mobility in a currency union on the welfare of the union. Chapter 1 is concerned with the impact of informality on the Ramsey optimal fiscal and monetary : Mahama Abdel Samir Sidbewende Bandaogo.

the model using Bayesian techniques for one small open economy and one emerging economy, the Ramsey solution for the optimal monetary and scal policy is com-puted.

Results show that foreign shocks have a strong in uence in the dynamics of emerging economies, when compared to the designed optimal policy for a developed small open economy.

We introduce limited commitment into a standard optimal fiscal policy model in small open economies. We consider the problem of a benevolent government that signs a risk-sharing contract with the rest Cited by: 3. Essays on Monetary and Fiscal Policies in Small Open Economies: The Case of Trinidad and Tobago.

Abstract. Trinidad and Tobago is a small open economy that faces macroeconomic policy challenges which are related to imperfections in the financial sector Author: Keyra Primus. This paper is concerned with the structure and time-consistency of optimal fiscal and monetary policy in an economy without capital.

In a dynamic context, optimal taxation means distributing tax. Optimal Fiscal and Monetary Policy for a Small Open Economy Abstract This paper analyze the international dimension of –scal policy using a small open economy framework in which the government –nances government spending by levying distortionary taxa-tion and issuing non-state-contingent debt.

analysis of the optimal policy. First Best Optimal Fiscal Policy for the Decentralized Economy with no Adjustment Costs Simulation and Results for the Decentralized Economy with Adjustment Costs Concluding Remarks 6.

Endogenous Growth and Optimal Fiscal Policy in a Small Open Economy. as already high tax rates, large fiscal deficits and growing debt stocks. This dissertation comprises two essays that examine different aspects of the relationship between government spending and long-term economic growth.

The first essay Cited by: 1. 11 Fiscal Policy and the Yield Curve in a Small Open Economy 1 Introduction 2 Previous related studies 3 The yield curve in a conventional small open economy model The model.

The essays in Fiscal Politics are gold mines of description and explanation of the sources of tension between optimal and equilibrium fiscal policies. The book presents a fascinating array of evidence. optimal ‘inflation tax’ are readily replicated by exploiting the analogies between this monetary economy and the barter economy studied in section 2.

With respect t,u the time-consistency of optimal File Size: 3MB. Essays on Optimal Policy in Open Economies \Capital Mobility and Optimal Fiscal Policy without Commit- I study a Ramsey taxation model for a small open economy.

A known result in the. In such a case, optimal fiscal policy responds by lowering taxes on factor incomes to encourage domestic labor participation and increasing the remittance tax to curb labor migration.

However, optimal policy response to shocks in the domestic economy Author: Sokchea Lim. Optimal consumption and labor tax rates are about constant, but they are adjusted in a special way in the beginning of the optimal plan.

We find optimal fiscal policy in an economy which Author: Djeneba Doumbia. This paper characterizes the behavior of debt and tax rates in a small open economy under both complete and incomplete markets.

First, I show hat when the government follows an optimal fiscal policy. The first essay shows that optimal fiscal and monetary policy is time consistent in a standard small open economy. Further, there exist many maturity structures of public debt capable of rendering the optimal policy time consistent.

This result is in sharp contrast with that obtained in the context of closed-economy : Xuan Liu. Optimal Fiscal and Monetary Policy V. Chari, Patrick J. Kehoe. NBER Working Paper No. Issued in January NBER Program(s):Economic Fluctuations and Growth Program We provide an introduction to optimal fiscal and monetary policy using the primal approach to optimal.

The dissertation examines the macroeconomic impact of fiscal policy, including a recently-debated remittance tax in a small open economy that exports migrant workers and, at the same time, receives remittances sent by those migrants to families in the home country.

The research also investigates the responses of optimal fiscal policy Cited by: 1. The first essay shows that optimal fiscal and monetary policy is time consistent in a standard small open economy.

Further, there exist many maturity structures of public debt capable of rendering the optimal policy time Author: Xuan Liu. The idea that the budget should always be in balance actually runs counter to optimal fiscal policy in an advanced, dynamic economy like ours.

Instead, smart fiscal policy must be flexible, with deficits temporarily rising in recessions to support the weak economy and coming down in recoveries as the economy strengthens.

Elevating the goal of a balanced budget above other fiscal priorities. that an optimal fiscal rule should take into account deviations (from their steady state values) of the level of government debt, government spending, and inflation.

The fourth chapter characterizes the optimal exchange rate policy in a dollarized economy .In addition, our results show that the open economy channel of optimal scal policy is qualita- tively di erent depending on whether the economy is in a liquidity trap.

As in the closed economy and as we discussed above, optimal scal policy .The inflation volatility is closed to zero. On the second chapter, I evaluate the impact of tax and monetary policy rules with disaggregated government purchases on welfare, real exchange rate and business cycle in a small open economy .