Financing fiscal deficits. Intertemporal approach under different exchange rate regimes
Fil: Descalzi, Ricardo Luis. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
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| Format: | conferenceObject |
| Language: | eng |
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2021
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| Online Access: | http://hdl.handle.net/11086/18870 |
| _version_ | 1806012214173237248 |
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| author | Descalzi, Ricardo Luis Neder, Ángel Enrique |
| author_facet | Descalzi, Ricardo Luis Neder, Ángel Enrique |
| author_sort | Descalzi, Ricardo Luis |
| collection | Repositorio Digital Universitario |
| description | Fil: Descalzi, Ricardo Luis. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. |
| format | conferenceObject |
| id | rdu-unc.18870 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2021 |
| record_format | dspace |
| spelling | rdu-unc.188702024-07-08T16:51:06Z Financing fiscal deficits. Intertemporal approach under different exchange rate regimes Descalzi, Ricardo Luis Neder, Ángel Enrique Seigniorage Fiscal deficit Real exchange rate Interest rate Fil: Descalzi, Ricardo Luis. 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 Luis. 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 |
| spellingShingle | Seigniorage Fiscal deficit Real exchange rate Interest rate Descalzi, Ricardo Luis Neder, Ángel Enrique Financing fiscal deficits. Intertemporal approach under different exchange rate regimes |
| title | 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_short | Financing fiscal deficits. Intertemporal approach under different exchange rate regimes |
| title_sort | financing fiscal deficits intertemporal approach under different exchange rate regimes |
| topic | Seigniorage Fiscal deficit Real exchange rate Interest rate |
| url | http://hdl.handle.net/11086/18870 |
| work_keys_str_mv | AT descalziricardoluis financingfiscaldeficitsintertemporalapproachunderdifferentexchangerateregimes AT nederangelenrique financingfiscaldeficitsintertemporalapproachunderdifferentexchangerateregimes |