01717cas a2200265 a 4500 AALejournalIMF000661 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851793 1018-5941 BD-DhAAL BD-DhAAL Laxton, Douglas. Liberating Supply-Fiscal Policy and Technological innovation in a Multicountry Model / Douglas Laxton, Tamim Bayoumi, David Coe. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines how endogenizing technological progress in a multicountry macroeconometric model affects the analysis of fiscal policies. It uses an expanded version of the IMF's multicountry model, MULTIMOD, in which total factor productivity (TFP) is endogenized as a function of domestic research and development (R and D) expenditures, R and D expenditures of trading partners, and trade. Compared with the standard version of the model with exogenous TFP, fiscal policies have much larger and long-lived effects on the domestic economy and on other countries. Mode of access: Internet Bayoumi, Tamim. Coe, David. IMF Working Papers; Working Paper ; No. 1998/095 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/095/001.1998.issue-095-en.xml IMF e-Library