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|z 9781451858044
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|a Konuki, Tetsuya.
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|a The Effects of Monetary and Fiscal Policy on Aggregate Demand in a Small Open Economy :
|b An Application of the Structural Error Correction Model /
|c Tetsuya Konuki.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2000.
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|a 1 online resource (24 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2000/165
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2000/165/001.2000.issue-165-en.xml
|z IMF e-Library
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