01684cas a2200241 a 4500 AALejournalIMF005567 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451871555 1018-5941 BD-DhAAL BD-DhAAL Eskesen, Leif. The Role for Counter-Cyclical Fiscal Policy in Singapore / Leif Eskesen. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (18 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 Singapore's policymakers have often used fiscal policy as a counter-cyclical tool. Empirical results based on a structural autoregression framework suggest that fiscal policy can be used for demand management, although the impact may be somewhat short lived. The short-lived impact could reflect a number of factors, including the absence of credit-constrained economic agents, a high propensity to save among households, monetary focus on price stability, and leakages due to economic openness. Notwithstanding, fiscal policy should still play a key stabilizing role in the current downturn given the downside risks to growth and the vast fiscal space. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2009/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/008/001.2009.issue-008-en.xml IMF e-Library