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Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Yıl 2004 , Cilt 19 , Sayı 2

Makale özeti ve diğer detaylar.

Makale özeti
Başlık :

Growth, lıquıdıty constraınts, credıbılıty and the effects of shocks under a non-credıble government

Yazar kurumları :
İstanbul Bilgi Üniversitesi1
Görüntülenme :
132
DOI :
Özet Türkçe :

This paper presents an overlapping generations model for a small open economy. The model is calibrated to fit data for Turkey. Simulations suggest that for a fairly open economy such as Turkey, credibility and liquidity constraints matter and the choice of income taxation rate, the mix of government spending and the long-run government debt/GDP ratio can all significantly affect the economic growth. The paper also examines the effectiveness of fiscal policy under different levels of liquidity constraint in an open economy within a dynamic framework. It shows that liquidity constraints can affect the outcome of any fiscal policy. Hence fiscal policy is even more important for the less developed economies of the world.

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