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|z 9781475503661
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|a 1018-5941
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|a BD-DhAAL
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|a Shen, Wenyi.
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|a The Effects of Government Spending Under Limited Capital Mobility /
|c Wenyi Shen, Susan Yang.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (41 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 studies the effects of government spending under limited international capital mobility, as featured by most developing countries. While external financing of government debt mitigates the crowding-out effect, it generates real appreciation, which contracts traded output and lowers the fiscal multiplier in the short run. The decline of the multiplier is larger when facing debt-elastic country risk premia. Also, government spending is more expansionary with more home bias in government purchases, more sectoral rigidities, and a less flexible exchange rate. Whether the twin-deficit hypothesis holds depends crucially on the extent to which government deficits are financed externally.
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|a Mode of access: Internet
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|a Yang, Susan.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/129
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/129/001.2012.issue-129-en.xml
|z IMF e-Library
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