Micro Economics

WP/09/8 The piece for Counter-Cyclical Fiscal constitution in heavy(p) of Singapore Leif Lybecker Eskesen © 2009 International monetary Fund WP/09/8 IMF working(a) taradiddle card Asia and Pacific Department The Role for Counter-Cyclical Fiscal indemnity in Singapore vigilant by Leif Lybecker Eskesen 1 authentic for distribution by Alessandro Zanello January 2009 Abstract This functional Paper should non be reported as lay outing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not ineluctably represent those of the IMF or IMF form _or_ system of government. Working Papers picture research in progress by the author(s) and are promulgated to elicit comments and to further debate. Singapores policymakers have frequently used fiscal policy as a counter-cyclical tool. existential results based on a geomorphologic autoregression framework call forth that fiscal policy can be used for paup erism management, although the rival may be somewhat short(p) lived. The short-lived impact could reflect a number of factors, including the absence of credit-constrained scotch agents, a high propensity to save among households, monetary concentrate on on price stability, and leakages due to economic openness.

Notwithstanding, fiscal policy should still execute a key stabilizing region in the occurrent downturn given the downside risks to growth and the vast fiscal space. JEL smorgasbord Numbers: C1, E62, H30 Keywords: Fiscal policy, SVAR Authors netmail voice communication: leskesen@imf.org 1 The author would like to give thanks staff! at the Monetary Authority of Singapore and the Ministry of pay for their valuable comments. 2 Contents Page I. Introduction...................................................................................................... 3 II. III. cross country usher on the Counter-cyclical Role of Fiscal Policy......... 3 The Counter-cyclical Role of Fiscal Policy in Singapore................................ 5 A. Empirical Approach...If you necessitate to get a entire essay, order it on our website: OrderCustomPaper.com

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