Limit search to available items
Book Cover

Title Fiscal devaluation in a monetary union / prepared by Philipp Engler [and others]
Published [Washington, D.C.] : International Monetary Fund, ©2014


Description 1 online resource (33 pages) : illustrations
Series IMF working paper ; WP/14/201
IMF working paper ; WP/14/201.
Contents Cover; Contents; I. Introduction; II. The Model; III. Parameterization; IV. International Effects of a Fiscal Devalution in 'Southern European' Countries; V. Conclusions; References
Summary Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in 'Southern European countries' has a strong positive effect on output, but mild effects on the trade balance and the real exchange rate. Since the benefits of a FD are small relative to the divergence in competitiveness, it is best addressed through structural reforms--Abstract
Notes "October 2014."
"Asia and Pacific Department."
Bibliography Includes bibliographical references (pages 31-33)
Notes Online resource; title from pdf title page ( Web site, viewed November 4, 2014)
Subject Fiscal policy -- European Union countries -- Econometric models
Fiscal policy -- Europe, Southern -- Econometric models
Value-added tax -- European Union countries -- Econometric models
Value-added tax -- Europe, Southern -- Econometric models
Monetary unions -- European Union countries
Balance of payments -- European Union countries -- Econometric models
Balance of payments -- Europe, Southern -- Econometric models
Computable general equilibrium models.
Balance of payments -- Econometric models
Computable general equilibrium models
Fiscal policy -- Econometric models
Monetary unions
Value-added tax -- Econometric models
European Union countries
Southern Europe
Form Electronic book
Author Engler, Philipp, author
International Monetary Fund. Asia and Pacific Department, issuing body.
ISBN 9781498365567