UID:
edoccha_9958236102802883
Umfang:
1 online resource (34 p.)
ISBN:
1-4983-3635-3
,
1-4983-1253-5
,
1-4983-6556-6
Serie:
IMF Working Papers
Inhalt:
Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ‘Southern European countries’ has a strong positive effect on output, but mild effects on the trade balance and the real exchange rate. Since the benefits of a FD are small relative to the divergence in competitiveness, it is best addressed through structural reforms.
Anmerkung:
Description based upon print version of record.
,
Cover; Contents; I. Introduction; II. The Model; III. Parameterization; IV. International Effects of a Fiscal Devalution in 'Southern European' Countries; V. Conclusions; References
Weitere Ausg.:
ISBN 1-4843-1213-9
Weitere Ausg.:
ISBN 1-322-51022-9
Sprache:
Englisch
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