Micro Economics

WP/09/8 The authority for Counter-Cyclical Fiscal insurance policy in roof of Singapore Leif Lybecker Eskesen © 2009 International monetary Fund WP/09/8 IMF working(a) cut through card Asia and Pacific Department The Role for Counter-Cyclical Fiscal indemnity in Singapore vigilant by Leif Lybecker Eskesen 1 countenance for distribution by Alessandro Zanello January 2009 Abstract This running(a) Paper should not be reported as even uping the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not ineluctably represent those of the IMF or IMF form _or_ system of government. Working Papers get wind research in progress by the author(s) and are produce to elicit comments and to further debate. Singapores policymakers have oftentimes used financial policy as a counter-cyclical tool. trial-and-error results based on a geomorphologic autoregression framework betoken that fiscal policy can be used for affect management, although the involve may be somewhat short(p) lived. The short-lived impact could reflect a number of factors, including the absence of credit-constrained scotch agents, a high propensity to save among households, monetary concentrate on on price stability, and leakages due to economic openness.

Notwithstanding, fiscal policy should still execute a key stabilizing office staff in the occurrent downturn given the downside risks to growth and the vast fiscal space. JEL smorgasbord Numbers: C1, E62, H30 Keywords: Fiscal policy, SVAR Authors e-mail voice communication: leskesen@i mf.org 1 The author would like to conve! y staff at the Monetary Authority of Singapore and the Ministry of pay for their valuable comments. 2 Contents Page I. Introduction...................................................................................................... 3 II. III. cross-country usher on the Counter-cyclical Role of Fiscal Policy......... 3 The Counter-cyclical Role of Fiscal Policy in Singapore................................ 5 A. Empirical Approach...If you desire to get a entire essay, order it on our website: OrderCustomPaper.com

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