The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy : An Application of the Structural Error Correction Model /
This paper empirically analyzes the short-run effects of monetary and fiscal policy on aggregate demand, using the two-step structural error correction method. This method has an advantage over the standard reduced-form error correction method in providing a meaningful interpretation for impulse res...
| প্রধান লেখক: | |
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| বিন্যাস: | পত্রিকা |
| ভাষা: | English |
| প্রকাশিত: |
Washington, D.C. :
International Monetary Fund,
2000.
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| মালা: | IMF Working Papers; Working Paper ;
No. 2000/165 |
| অনলাইন ব্যবহার করুন: | Full text available on IMF |
| সংক্ষিপ্ত: | This paper empirically analyzes the short-run effects of monetary and fiscal policy on aggregate demand, using the two-step structural error correction method. This method has an advantage over the standard reduced-form error correction method in providing a meaningful interpretation for impulse responses. The results are in sharp contrast to those of the traditional Mundell-Fleming and Dornbusch models: after the monetary (fiscal) policy is relaxed, the home currency depreciates (appreciates) for a substantial period of time, and the aggregate demand first expands (contracts) then gradually returns toward its original path. |
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| উপাদানের বিবরণ: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| দৈহিক বর্ননা: | 1 online resource (24 pages) |
| বিন্যাস: | Mode of access: Internet |
| আইএসএসএন: | 1018-5941 |
| প্রবেশাধিকার: | Electronic access restricted to authorized BRAC University faculty, staff and students |