| Description |
1 online resource (71 pages) |
| Series |
IMF Working Papers |
|
IMF Working Papers
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| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Review of the Literature; III. The Model; 1. Convergence Scenario (baseline for shocks), 2003-40; 1. Selected Calibration Parameters; IV. Channels for EU Funds to Recipient Countries; 2. EU Transfers to Households' Income Support; 5. EU Transfers to Public Infrastructure Investment; 6. EU Transfers to Private Investment; V. Combining the Channels: What do Current Plans Imply for the Macro Economy; 2. Average EU Funds Spending; 7. Actual Plans for EU Transfers; VI. Four Lessons for Policy-Makers |
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2. Change in Welfare in Each of the Scenarios3. Ratio of Net Present Value of GDP Gains to NPV of EU Funds Disbursement; 8. Role of a Pro-Cyclical Policy on the Impact of EU Funds, Comparison with the Baseline Scenario of Counter-Cyclical Fiscal Policy; VII. Conclusion; I. EU Funds: What is in the Offing?; 1. Average EU Funds Spending; 2. EU Funds Payments and Relative GDP per Capita; 3a. Central Europe: EU Funds Spending, 2004-15; 3b. Baltics: EU Funds Spending, 2004-15; II. Modifications to GIMF; III. List of Parameters Used for the Calibration of the Model |
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4a. EU Fund Transfer Shock, 2003-404b. EU Fund Transfer Shock, 2003-40; 4c. EU Fund Transfer Shock, 2003-40; 4d. EU Fund Transfer Shock, 2003-40; 5a. IT Countries: EU Fund Transfer Shock, 2003-40; 5b. IT Countries: EU Fund Transfer Shock, 2003-40; 5c. IT Countries: EU Fund Transfer Shock, 2003-40; 5d. IT Countries: EU Fund Transfer Shock, 2003-40; 6a. FE Countries: EU Fund Transfer Shock, 2003-40; 6b. FE Countries: EU Fund Transfer Shock, 2003-40; 6c. FE Countries: EU Fund Transfer Shock, 2003-40; 6d. FE Countries: EU Fund Transfer Shock, 2003-40 |
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7. FE Countries: EU Fund Transfer Shock, 2003-40. Sensitivity Analysis with Price And Quantity Adj. Costs of a Flexible Exchange Rate Regime. References; Footnotes |
| Summary |
Large inflows from the European Union to the New Member States are likely to significantlyimpact macroeconomic outcomes. In this paper, we use the IMF's Global Integrated Monetaryand Fiscal model (GIMF) to analyze the impact of the transfers and show the conditionsunder which they would help speed up convergence. We find that the EU funds need to bedirected predominantly to investment rather than to income support and that to bestaccompany the EU fund inflows, the policy-mix would need to combine counter-cyclicalpolicy with a strong commitment to the existing monetary regime |
| Bibliography |
Includes bibliographical references |
| Notes |
Print version record |
| Subject |
Convergence (Economics) -- Europe, Eastern
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Transfer payments -- Europe, Eastern
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Convergence (Economics)
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Economic history
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International economic relations
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Transfer payments
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| SUBJECT |
Europe, Eastern -- Economic conditions -- 1989-
http://id.loc.gov/authorities/subjects/sh90000332
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Europe, Eastern -- Foreign economic relations -- European Union countries
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European Union countries -- Foreign economic relations -- Europe, Eastern
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| Subject |
Eastern Europe
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European Union countries
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| Form |
Electronic book
|
| ISBN |
9781452746050 |
|
1452746052 |
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