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2 edition of External imbalances and fiscal policy in the group of three countries found in the catalog.

External imbalances and fiscal policy in the group of three countries

International Monetary Fund.

External imbalances and fiscal policy in the group of three countries

the role of stock-flow dynamics

by International Monetary Fund.

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  • 2 Currently reading

Published by International Monetary Fund in Washington, D.C .
Written in English


Edition Notes

Statementprepared by Jeroen j. M. Kremers.
SeriesIMF working paper -- WP/89/81
ContributionsKremers, J. M. Jeroen., International Monetary Fund. European Dept.
The Physical Object
Pagination17 p. --
Number of Pages17
ID Numbers
Open LibraryOL14790819M

contractionary monetary policy, they will still work to correct the internal and external imbalances. The reason is that fiscal policy is relatively more effective in dealing with the internal imbalance while monetary policy is relatively more efficient in correcting the external imbalance. Twin Deficits and the Feldstein Horioka Puzzle: A Comparison of the EU Member States and Candidate Countries and new EU member states and candidate countries (EU12+3) in the & period. Public finance imbalances The EU15 group’s fiscal policy Cited by:

Get this from a library! External imbalances and public finances in the EU. [Salvador Barrios; European Commission. Directorate-General for Economic and Financial Affairs.;] -- The global financial crisis induced a sharp deterioration in EU countries. Economic Policy Coordination in the Economic and Monetary Union From Maastricht via the SGP to the Fiscal Pact rates of inflation were also low and external imbalances limited. The debates were policy of the participating countries .

Internal and External Balance. Second, that country’s external imbalance must be consistent with and equal to the external imbalance of the rest of the world at all times. or an imbalance in one country can force imbalances onto other countries. External Imbalances and Financial Crises Alan M. Taylor NBER Working Paper No. December JEL No. E3,E4,E5,F3,F4,N1 ABSTRACT In broad perspective, there have been essentially two Cited by:


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External imbalances and fiscal policy in the group of three countries by International Monetary Fund. Download PDF EPUB FB2

This book is concerned with the use of fiscal and monetary policies to overcome three major obstacles to development commonly faced by less developed countries: inadequate investment; misallocation of investment resources; and internal and external imbalances Format: Paperback.

External Imbalances and Fiscal Policy in the Group of Three Countries: the Role of Stock-Flow Dynamics. [International Monetary Fund.] -- This paper discusses recent empirical research on the interplay between fiscal policies and external imbalances in the G3 countries.

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A study of these countries requires a broader view of internal and external imbalances, and not only the context of the recent financial crisis (economic, fiscal). For this reason, the aim of this paper is to Cited by: 1.

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calibrated macroeconomic policy mix is necessary to support rebalancing. Deficit countries can help by adopting growth-friendly fiscal consolidation, while surplus economies should seek to reduce imbalances by deploying available fiscal space and avoiding overreliance on accommodative monetary policies.

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external imbalances for the success of fiscal consolidations plans to be implemented in the coming years, drawing on past experiences for EU countries and a sample of OECD Size: 1MB. External Imbalances and Fiscal Fragility in the Euro Area The analysis shows that a lack in competitiveness is the main explanation for the external deficits of the countries that are at the.

Under fixed exchange rates, which combinations of internal and external imbalance are dilemmas to address with a single focused expenditure-changing policy A) Inflation and surplus (case 1 in text); and recession and deficit (case 3. external imbalances.

Second, regardless of the source of an external imbalance, fiscal policy may have a role to play in the external adjustment process. Third, fiscal policy may have a preventive role in guarding against the emergence of sub-optimal external imbalances.

In a by now classic article, R.A. Mundell demonstrated that an open economy could maintain internal and external balance without using the exchange rate as a policy tool.

This, he showed, could be done by using fiscal policy to produce internal balance, and interest rate policy to produce an imbalance on the capital account to offset whatever imbalance Cited by: 1. External Imbalances and Financial Crises Alan M.

Taylor. NBER Working Paper No. Issued in December NBER Program(s):Development of the American Economy, International Finance and. check. Finally, Section 5 summarizes the paper and provides some policy implications.

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Using data from a large and diverse panel of countries, this column finds that a strengthening in the fiscal balance by 1 percentage point of GDP is, on average, associated with a current-account improvement of .External imbalances of the Greek economy: the role of fiscal and structural policies - Georgios Moschovis & Mateo Capo Servera (91 kB) This Country Focus discusses the factors underlying the external imbalances .