Financing fiscal deficits. Intertemporal approach under different exchange rate regimes

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Fil: Descalzi, Ricardo L. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.

Detalles Bibliográficos
Autores principales: Descalzi, Ricardo L., Neder, Ángel Enrique
Formato: conferenceObject
Lenguaje:Inglés
Publicado: 2021
Materias:
Seigniorage
Fiscal deficit
Real exchange rate
Interest rate
Acceso en línea:http://hdl.handle.net/11086/18870
Aporte de:
Repositorio Digital Universitario (UNC) de Universidad Nacional de Córdoba
id I10-R141-11086-18870
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spelling I10-R141-11086-188702024-10-29T18:04:13Z Financing fiscal deficits. Intertemporal approach under different exchange rate regimes Descalzi, Ricardo L. Neder, Ángel Enrique Seigniorage Fiscal deficit Real exchange rate Interest rate Fil: Descalzi, Ricardo L. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Fil: Neder, Ángel Enrique. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Financing fiscal deficits implies different effects on economic variables, particularly depending on the instrument used to fund those deficits. If these economic measures do not generate impacts on welfare, they would not be of concern. But, undoubtedly, they do provoke them. And, in the special case of Argentina, the main concern is focused on the impacts of inflation, which can deteriorate the real income of families and, consequently, their welfare. Additionally, the impacts would be different considering the exchange rate regime that is being applied. Using a cash-in-advance model (which consists on holdings of foreign exchange in advance) for a small open economy with seigniorage and following McCandless (2008) and Descalzi and Neder (2015 and 2016), we found a long run relationship between inflation, money issuing, nominal exchange rate and fiscal deficit, meaning that inflation, nominal exchange rate and the government imbalances are driven by the same trend. In this paper, we emphasize the impacts using different exchange rate regimes (fixed and flexible exchange rate). Fil: Descalzi, Ricardo L. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Fil: Neder, Ángel Enrique. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Economía, Econometría 2021-06-30T22:57:01Z 2021-06-30T22:57:01Z 2017-11 conferenceObject http://hdl.handle.net/11086/18870 eng http://www.bcu.gub.uy/Comunicaciones/Paginas/JAE-2017.aspx Atribución-NoComercial-CompartirIgual 4.0 Internacional http://creativecommons.org/licenses/by-nc-sa/4.0/ Electrónico y/o Digital
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-141
collection Repositorio Digital Universitario (UNC)
language Inglés
topic Seigniorage
Fiscal deficit
Real exchange rate
Interest rate
spellingShingle Seigniorage
Fiscal deficit
Real exchange rate
Interest rate
Descalzi, Ricardo L.
Neder, Ángel Enrique
Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
topic_facet Seigniorage
Fiscal deficit
Real exchange rate
Interest rate
description Fil: Descalzi, Ricardo L. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
format conferenceObject
author Descalzi, Ricardo L.
Neder, Ángel Enrique
author_facet Descalzi, Ricardo L.
Neder, Ángel Enrique
author_sort Descalzi, Ricardo L.
title Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
title_short Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
title_full Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
title_fullStr Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
title_full_unstemmed Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
title_sort financing fiscal deficits. intertemporal approach under different exchange rate regimes
publishDate 2021
url http://hdl.handle.net/11086/18870
work_keys_str_mv AT descalziricardol financingfiscaldeficitsintertemporalapproachunderdifferentexchangerateregimes
AT nederangelenrique financingfiscaldeficitsintertemporalapproachunderdifferentexchangerateregimes
_version_ 1824552221761601536

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