TY - BOOK ID - 11262801 TI - Fundamental Determinants of the Effects of Fiscal Policy AU - Kumar, Manmohan. AU - Botman, Dennis. AU - International Monetary Fund. PY - 2006 SN - 1451863322 1462302394 1451908687 9786613827876 1452720894 1283515423 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Economic policy -- Econometric models. KW - Electronic books. -- local. KW - Fiscal policy -- Econometric models. KW - Political Science KW - Law, Politics & Government KW - Public Finance KW - Fiscal policy KW - Economic policy KW - Econometric models. KW - Tax policy KW - Taxation KW - Government policy KW - Finance, Public KW - Banks and Banking KW - Macroeconomics KW - Debt KW - Debt Management KW - Sovereign Debt KW - Interest Rates: Determination, Term Structure, and Effects KW - Macroeconomics: Consumption KW - Saving KW - Wealth KW - Personal Income and Other Nonbusiness Taxes and Subsidies KW - Fiscal Policy KW - Public finance & taxation KW - Finance KW - Welfare & benefit systems KW - Public debt KW - Real interest rates KW - Consumption KW - Labor taxes KW - Debts, Public KW - Interest rates KW - Economics KW - Income tax KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:11262801 AB - We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform using the Global Fiscal Model (GFM). We show that the planning horizon of consumers, access to financial markets, and the elasticity of labor supply, as well as the characteristics of utility and production functions, and the degree of competition are all critical for determining the impact of fiscal policy. Four topical fiscal policy issues, for a representative large and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and privatization of retirement savings. ER -