Expansionary Fiscal Shocks and the Trade Deficit
نویسندگان
چکیده
منابع مشابه
Discussion of Terms of Trade Shocks and Fiscal Cycles
This paper investigates the impact of terms of trade movements on the stance of fiscal policy. This analysis is timely and important because the volatility of the terms of trade has increased in recent years, largely due to significant fluctuations in commodity prices. Moreover, the prominence of fiscal policy has increased as countries have adopted aggressive discretionary actions to combat th...
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We study here the effects of future tax and budgetary shocks on present levels of economic activity and real interest rates in a nonmonetary and possibly non-Ricardian economy. The paper first takes up an (unanticipated) temporary tax cut to be effective on a given future date—a delayed “debt bomb.” The sudden prospect of this future-dated shock causes at once a drop in the (unit) value placed ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2005
ISSN: 1556-5068
DOI: 10.2139/ssrn.661424