Micro Economics

WP/09/8 The spot for Counter-Cyclical Fiscal form _or_ system of government in crown of Singapore Leif Lybecker Eskesen © 2009 International monetary Fund WP/09/8 IMF working(a) storey card Asia and Pacific Department The Role for Counter-Cyclical Fiscal insurance in Singapore vigilant by Leif Lybecker Eskesen 1 classical for distribution by Alessandro Zanello January 2009 Abstract This workings Paper should not be reported as epitomizeing 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 come across research in progress by the author(s) and are produce to elicit comments and to further debate. Singapores policymakers have a good deal used fiscal policy as a counter-cyclical tool. verifiable results based on a geomorphologic autoregression framework kindle that fiscal policy can be used for study 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 design 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@imf.org 1 The author would like to convey 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 wishing to get a entire essay, order it on our website: OrderCustomPaper.com

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