Description
| Summary: | We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings.
|
|---|
| Physical Description: | 1 online resource (46 pages) : illustrations |
|---|
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
|---|
| Bibliography: | Includes bibliographical references. |
|---|
| ISBN: | 1283515423
9781283515429
9781451908688
1451908687 |
|---|
| Reproduction Note: | Electronic reproduction. |
|---|
| Source of Description, Etc. Note: | Print version record. |
|---|
| Action Note: | digitized |
|---|