cam a22 2 b4500 530131889 CHVBK 20201027044226.0 m d cr |n |||||||| 130723e20070801dcu s|||| 0 |eng|d 978-1-4519-1216-6 1-4519-1216-1 (EBook) : USD 18.00 Retail Price (Publisher) (SERSOL)ssj0001476579 (WaSeSS)ssj0001476579 BIP US WaSeSS Honjo Keiko Author The Golden Rule and the Economic Cycles [Elektronische Daten] Washington International Monetary Fund Aug. 2007 1 online resource (50 p.) Free full text available for some or all content. Article availability is subject to change without notice, according to publisher decision. Die Verfügbarkeit der Online-Ressourcen ist Entscheidung des Verlags oder des Urhebers und kann ohne vorherige Ankündigung geändert werden. Annotation The present formulation of the golden rule in the United Kingdom allows fiscal performance to be tested explicitly on an ex-post basis. However, it requires precise dating of the economic cycle, which can lead to significant controversy. Also, the need to aim for current balance or better over the cycle may force fiscal policy to be procyclical toward the end of cycles. Using dynamic stochastic simulations, the paper suggests that making the formulation of the golden rule forward-looking and independent of the dating of the economic cycle would reduce the risk of procyclicality and enhance macroeconomic stability. http://elibrary.imf.org/view/IMF001/08671-9781451867633/08671-9781451867633/08671-9781451867633.xml Volltext frei zugänglich BK020053 XK020053 XK020000 IMF E-Library E-Books von 360MarcUpdates IDSBB FREE FREE OL NELFREE2004 IDSBB 100 1- Honjo Keiko Author IDSBB 856 40 http://elibrary.imf.org/view/IMF001/08671-9781451867633/08671-9781451867633/08671-9781451867633.xml Volltext frei zugänglich SWISSBIB 085749486