| Description |
1 online resource (23 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/00/165 |
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IMF working paper ; WP/00/165.
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| Summary |
The purpose of this paper is to analyze empirically the short-run effects of monetary and fiscal policy on aggregate demand. The small open economy model under flexible exchange rates is estimated. To identify structural monetary and fiscal disturbances, the two-step structural error correction method is applied as in Ogaki and Yang (1998). Cointegrating vectors are estimated in the first step, and the instrumental variable technique is applied to the system of equations in the second step. This method can overcome the difficulty faced by the standard error correction models (ECMs), as discussed below |
| Bibliography |
Includes bibliographical references (pages 21-23) |
| Notes |
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. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Fiscal policy -- States, Small -- Econometric models
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Monetary policy -- States, Small -- Econometric models
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Foreign exchange rates -- States, Small -- Econometric models
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| Form |
Electronic book
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| Author |
International Monetary Fund. Fiscal Affairs Department.
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| ISBN |
1282044168 |
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9781282044166 |
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145190326X |
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9781451903263 |
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1462380131 |
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9781462380138 |
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9786613797308 |
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6613797308 |
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9781451858044 |
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1451858043 |
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