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Demand-Side Stabilization Policies

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  • Magda E. Kandil

Abstract

Using disaggregated data for the United States, this paper explores the effects of the variability of fiscal and monetary policy shocks. Higher variability of government spending shocks around a steady-state growth trend results, on average, in a decline in aggregate demand growth and inflation, with limited effects on output growth. On the other hand, higher variability of monetary shocks results, on average, in an increase in inflation and a decline in output growth. These results indicate the desirability of avoiding large fluctuations over time in either government spending or the money supply.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 00/197.

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Length: 31
Date of creation: 01 Dec 2000
Date of revision:
Handle: RePEc:imf:imfwpa:00/197

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Related research

Keywords: Stabilization programs; Economic models; government spending; aggregate demand; government spending shocks; private consumption; nondurable goods; budget deficit; fiscal policy; consumption expenditures; fiscal policies; personal consumption; fiscal expansion; tax liability; aggregate supply; budget deficits; gross domestic product; public debt; fiscal contractions; tax revenues; level of public spending; consumption expenditure; consumption of durable goods; government budget; public spending; expansionary fiscal contractions; expansionary fiscal; tax collection; taxation; fiscal multipliers; business cycles; tax reduction; fiscal spending; investment demand; consumption spending; disposable income; fiscal tools; fiscal prudence; fiscal contraction; national income; government purchases;

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Cited by:
  1. Joshua E. Greene & Magda E. Kandil, 2002. "The Impact of Cyclical Factorson the U.S. Balance of Payments," IMF Working Papers 02/45, International Monetary Fund.

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