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Macroeconomic Impacts of Fiscal Policy in Ghana: Analysis of an Estimated DSGE Model with Financial Exclusion
https://doi.org/10.24545/00001694
https://doi.org/10.24545/0000169471e5f371-6bc5-45c0-9d9f-a29eece48858
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP19-15.pdf (995.2 kB)
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| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||||
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| 公開日 | 2019-09-04 | |||||||||
| タイトル | ||||||||||
| タイトル | Macroeconomic Impacts of Fiscal Policy in Ghana: Analysis of an Estimated DSGE Model with Financial Exclusion | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Fiscal policy | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Financial exclusion | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | DSGE modeling | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Bayesian Estimation | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ | technical report | |||||||||
| ID登録 | ||||||||||
| ID登録 (DOI) | 10.24545/00001694 | |||||||||
| ID登録タイプ | JaLC | |||||||||
| 著者 |
TAKYI, Paul Owusu
× TAKYI, Paul Owusu
× LEON-GONZALEZ, Roberto
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| 著者所属 | ||||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||||
| 著者所属 | ||||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||||
| 抄録 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | This study develops and estimates a standard New-Keynesian DSGE model for the Ghanaian economy, for the analysis of the impacts of government spending, consumption tax, and labor income tax shocks on household consumption and working hours. It also applies the model to examination of the effects of fiscal policy shocks on key macroeconomic variables in the Ghanaian economy. The model features heterogeneous households of two types, financially excluded and financially included, and considers two labor markets: perfectly and monopolistically competitive labor markets. We use quarterly time series data from 1985Q1-2017Q4 to estimate the model’s parameters using a Bayesian approach. The results show that a positive government spending shock has an expansionary effect on the consumption of financially excluded households but has a decreased effect on that of fully financially included ones. We find that positive consumption and labor income tax shocks decrease the consumption of financially excluded households more than that of financially included ones. From a policy perspective, government spending is effective for increasing output, employment, and the consumption of financially excluded households, although it reduces that of financially included ones. | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | JEL Classification Codes: E32, E62, H20 | |||||||||
| 発行年 | ||||||||||
| 値 | 2019-09 | |||||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. DP19-15, 発行日 2019-09-04 |
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| 出版者 | ||||||||||
| 出版者 | GRIPS Policy Research Center | |||||||||
| 言語 | en | |||||||||
| 関連サイト | ||||||||||
| 関連タイプ | isIdenticalTo | |||||||||
| 識別子タイプ | URI | |||||||||
| 関連識別子 | https://ideas.repec.org/p/ngi/dpaper/19-15.html | |||||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/19-15.html | |||||||||
| 著者情報 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | https://www.grips.ac.jp/list/jp/facultyinfo/leon_gonzalez_roberto/ | |||||||||
| 著者版フラグ | ||||||||||
| 出版タイプ | AM | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||||
