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states that the determination of inflation would no longer be a monetary phenomenon, but a fiscal one linked to the predetermined level of public debt. ... In order words, the FTPL suggests the consolidated government present value budget constraint is an optimality condition, and it shows how Ricardian and non-Ricardian ...
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Major highlights of the policy are given below: • The Foreign Trade Policy (FTP) aims at continuing the thrust of the previous Foreign Trade Policy, 2004-09 but in the realistic environment of the global recession. • India to ... Q.6 Write a note on the recent steps taken by the Government in the direction of fiscal consolidation.
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The aftermath of the fiscal rules shows that, although the FRL of 2000 had a positive impact on fiscalpolicies, there are different forms of rent-seeking that remain present. Thus, there is no guarantee that ... for such a shock. Notes 1 See ftp://ftp.ibge.gov.br/Contas_Regionais/2012/pdf/tab01.pdf (accessed April 16, 2015).
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United States. Congress. Senate. Committee on Appropriations. Subcommittee on Treasury, Postal Service, and General Government - 1990 - 読む - 他の版
Hr. Hill: Currently we have 116 full—time permanent (FTP) employees on the rolls, 102 in Washington and the remaining 14 in the field. ... Upon consolidation into the new Statutory Inspector General organization, the number of employees located in the field will jump dramatically because of the transfer of Customs internal ...
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Reserve Bank of India - 2009 - スニペット表示 - 他の版
The 'Fiscal Theory of Price Level (FTPL) suggests that fiscal deficits may or may not lead to high inflation depending on whether ... More fundamentally, the FTPL suggests that the consolidated government present value budget constraint is an ...
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2007 - スニペット表示 - 他の版
Whether or not the non-Ricardian rule is implementable depends on the stochastic characteristics of government expenditure, such ... Overview of the Literature The main idea of the FTPL comes from the intertemporal budget equation, which links the real value of public debt to the present value of fiscal surpluses in the future. where Bt, Pt, r,, St, s{, and sT are nominal government debt, price level, real interest rate, consolidated government surplus, primary surplus, and seigniorage at ...
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This could be the case because political considerations limit the scope for fiscal consolidation, or because of inefficient tax and expenditure policies, weak fiscal ... In such non-Ricardian (fiscally dominant) economies, it is the essentially exogenous discounted future primary balances (the right-hand side of the government' s ...
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2002 - スニペット表示 - 他の版
The hypothesis of fiscal dominance might be accepted if in terms of equation (6) 0=0, i.e. budget balance doesn't respond to the level of ... He thus concludes that "there is no evidence that can be regarded as supporting the FTPL for this set of European countries". ... However if during the last years Latvia's government shown some consolidation effort and even managed to record a surplus in 2005, then ...
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1991 - スニペット表示 - 他の版
determine whether Excess FTP equipment would meet its requirements as the most advantageous alternative to the Government . ... These are the FTS2000 long-distance network (FTS2000); consolidated local telecommunications service , Purchase of Telephones and Services (POTS) , National Security and Emergency Preparedness (NSEP) , and Financial Management Systems Software (FMSS) .
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https://books.google.co.jp/books?id=hg7EQdzI_TQC&pg=PA939&dq=christiano+consolidated+government&hl=ja&sa
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The model is quite monetarist, with velocity set equal to one. Since government spending is constant, consumption is also constant (since ct 1⁄4 y À g), and the Euler equation reduces to 1=b 1⁄4 ItEt1⁄2Pt=Ptþ1 Rt ð6Þ The gross real interest rate, Rt, is tied to the discount factor. The consolidated government budget constraint in ...
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The fiscal authority covers deficits by issuing one-period, nominally risk-free bonds, Bt. The period-by-period budget constraint of the consolidated government is then ... policy are comparable to those obtained in the existing literature under the standard definition of Ramsey optimality (e.g., Chari, Christiano, and Kehoe 1995).
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Preston J. Miller - 1994 - プレビュー
(For a detailed discussion, see Christiano 1987d.) The resource constraint, (1) in the paper, divides all output, y ,, into only two categories: consumption, c,, and investment, dk,. In view of this, I consolidate private and government spending. Thus, c, and dk, are private plus public consumption and investment, respectively. Private ...
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Deficit: Net borrowing/lending of consolidated general government sector asa percentage of GDP Long.term interest rates: 10 year benchmark government bond yields. Sources: ... Democratico),CDU(Cristiano-Democ- ratici Uniti), DC (Democrazia Cristiana), DEVIANT ITALY CHOOSES TO ADJUST:THE PUZZLE 15. Long-term ...
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2007 - スニペット表示 - 他の版
It turns out that under certain conditions, a strategic interaction between a non- Ricardian benevolent government and a tit-for-tat household leads to the FTPL. ... s{, and sT are nominal government debt, price level, real interest rate, consolidated government surplus, primary surplus, and ... Among an infinite number of specifications of non-Ricardian policy rules, Christiano and Fitzgerald (2000) take up a ...
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Federal Reserve Bank of St. Louis - 2012 - スニペット表示 - 他の版
... investment is included. See, for example, Christiano ... Many readers may feel strongly that consolidated government expenditure is already either far too high or far too low, depending on your point of view. However, the appropriate size of ...
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Federal Reserve Bank of Minneapolis - 1987 - スニペット表示 - 他の版
(For a detailed discussion, see Christiano 1987d.) The resource constraint, ( I ) in the paper, divides all output, y,, into only two categories: consumption, c,, and investment, dk,. In view of this, I consolidate private and government spending.
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The results are similar when focusing on the general government. ... As in the case of the consolidated public sector, sensitivity tests suggest the results are robust. ... Fiscal Impulse Under Selected Trend Filters (General government, in percent of potential output, unit elasticity) Hodrick-Prescott Baxter-King Christiano-Fitzgerald ...
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1998 - スニペット表示 - 他の版
The government has sought to cushion the poorest from the effect of the subsidy removal, introducing a "bonus " for poor families of Sul00,000/month; eligibility for the ... Although the Partido Social Cristiano (PSC) backed Mr Mahuad's presidential bid and is likely to support most major aspects of his reform programme, it will firmly ...
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... the first government had been made by a very reduced number of political and technopolitical elites and that a great deal of work remained in order to consolidate ... Six months later, he was elected to the presidency of the Christian Democratic Party (Partido Demócrata Cristiano, or PDC) by a universal vote of party members on ...
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