How small should an economy's fiscal deficit be?: a monetary-programming approach
Paul Ely Beckerman, World Bank. Latin America and the Caribbean Regional Office. Poverty Reduction and Economic Management Sector
World Bank, Latin America and the Caribbean Region, Poverty Reduction and Economic Management Sector Unit, 2000 - Business & Economics - 34 pages
A spreadsheet planning model to help determine the government deficit consistent with a specified vector of country macroeconomic objectives.
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above-the-line analyst arch 2000 arch asset position assets and liabilities assumed bank's capital position bank's net worth behavioral parameters calculated cent of GDP central bank's assets central bank's capital central bank's profit central government Central-bank claims central-bank domestic Central-bank external liabilities Central-bank gross central-bank lending central-bank non-monetary obligations commercial banks commercial-bank obligations component of domestic consistency exercise currency deposit account determine domestic interest domestic-currency terms economy's Ecuador example exchange rate exchange-rate financing fiscal flow change flow increases GDP deflator given government and central-bank government borrowing flow government obligations inflation rate macroeconomic objectives maximum net government monetary base money supply nF F nominal interest rates period-end stocks period-end value present model price level profit flow programming assumptions provide the government real GDP growth real interest rates reserve ratio seasonality coefficients spreadsheet stock and flow U.S. dollar U.S. dollar value valuation change vector of macroeconomic World Bank year-average year-end