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Yu Hsing
 
''Application of the IS-MP-IA model to the Singapore economy and policy implications''
( 2005, Vol. 15 No.6 )
 
 
Extending the IS-MP-IA model (Romer, 2000), we find that equilibrium output in Singapore is negatively affected by the expected inflation rate and the world interest rate and positively influenced by real appreciation, stock market performance, and world output. Equilibrium GDP would rise by 0.872% if the real effective exchange rate rises by 1%. The coefficient of real government deficit spending is found to be insignificant, suggesting that pursuing fiscal discipline and budget surpluses in the long run by the Singapore government is appropriate.
 
 
Keywords:
JEL: O1 - Economic Development: General
O5 - Economywide Country Studies: General
 
Manuscript Received : Oct 13 2004 Manuscript Accepted : Feb 03 2005

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