Micro Economics

WP/09/8 The reference for Counter-Cyclical Fiscal polity in capital of Singapore Leif Lybecker Eskesen © 2009 International monetary Fund WP/09/8 IMF working(a) distinguish card Asia and Pacific Department The Role for Counter-Cyclical Fiscal polity in Singapore vigilant by Leif Lybecker Eskesen 1 sure for distribution by Alessandro Zanello January 2009 Abstract This operative Paper should non be reported as submiting 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 depict research in progress by the author(s) and are produce to elicit comments and to further debate. Singapores policymakers have often used pecuniary policy as a counter-cyclical tool. data-based results based on a geomorphologic autoregression framework adumbrate that fiscal policy can be used for take on management, alt hough the equal 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 quality 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 electronic mail voice communication: leskesen@imf.org 1 The author would like to convey staff at the Monetary ! Authority of Singapore and the Ministry of finance 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 deficiency to get a entire essay, order it on our website: OrderCustomPaper.com

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