Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits

Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits

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This paper uses the IMF's Global Integrated Monetary and Fiscal Model to compute shortrun multipliers of fiscal stimulus measures and long-run crowding-out effects of higher debt. Multipliers of two-year stimulus range from 0.2 to 2.2 depending on the fiscal instrument, the extent of monetary a...

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Bibliographic Details
Main Author: Laxton, Douglas
Other Authors: Freedman, Charles, Kumhof, Michael, Muir, Dirk, Mursula, Susanna
Format: Book
Language:English
Published: Washington : International Monetary Fund, 2009
Washington, D.C. : 2009
Series:IMF Working Papers
IMF Working Papers; Working Paper ; No. 2009/255
IMF eLibrary
Subjects:
Accommodative monetary policy
Banks and Banking
Consumption
Economics
Electronic books
Finance
Fiscal Policy
Fiscal policy
Fiscal stimulus
Interest Rates: Determination, Term Structure, and Effects
Interest rates
Macroeconomics
Macroeconomics: Consumption
Monetary Policy
Monetary economics
Monetary policy
Money and Monetary Policy
Public Finance
Real interest rates
Saving
Wealth
United States
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