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Capital Mobility and the Effectiveness of Fiscal Policy in Open Economies

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dc.creator Pierdzioch, Christian
dc.date 2003
dc.date.accessioned 2013-10-16T06:57:24Z
dc.date.available 2013-10-16T06:57:24Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17911
dc.identifier ppn:364354445
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17911
dc.description This paper uses a dynamic general equilibrium two-country optimizing ?new-open economy macroeconomics? model to analyze the consequences of international capital mobility for the effectiveness of fiscal policy. Conventional wisdom suggests that higher capital mobility diminishes the effectiveness of fiscal policy. The model laid out in this paper provides an example that a higher degree of capital mobility can also increase the effectiveness of fiscal policy. This tends to be the case if the stance of monetary policy can be described by means of a simple monetary policy rule.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1164
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F36
dc.subject F41
dc.subject ddc:330
dc.subject Fiscal policy
dc.subject Capital mobility
dc.subject Financial market integration
dc.subject Monetary Policy
dc.subject Finanzpolitik
dc.subject Wirtschaftspolitische Wirkungsanalyse
dc.subject Neue Makroökonomik offener Volkswirtschaften
dc.subject Offene Volkswirtschaft
dc.subject Allgemeines Gleichgewicht
dc.subject Internationale Kapitalmobilität
dc.subject Internationaler Finanzmarkt
dc.subject Geldpolitisches Ziel
dc.subject Theorie
dc.title Capital Mobility and the Effectiveness of Fiscal Policy in Open Economies
dc.type doc-type:workingPaper


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