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A Macroeconomic Analysis Of The Fiscal System In Egypt

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Executive Summary

The authors construct a dynamic general equilibrium model to analyze the fiscal situation of Egypt. They model Egypt as a small open economy that takes real interest rates and world prices of fuel as given. Since a large component of the government budget consists of pensions payments, they use an overlapping generations structure. The model contains descriptions of the public and private sector, as well as descriptions of the production sectors for a public good such as infrastructure, energy, and a final aggregate consumption good. The model pays special attention to the energy sector.

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