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Can central banks do the unpleasant job that governments should do?
Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2023
economy and fiscal policy remains active, there is no room left for further quasi-fiscal actions by the ECB; there will be …
Persistent link: https://www.econbiz.de/10014331713
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Optimal fiscal action in an economy with sovereign Premia and without monetary independence : an application to Italy
Philippopulos, Apostolēs; Varthalitis, Petros; … - 2013
We welfare rank various tax-spending policies. The setup is a New Keynesian model of a semi-small open economy … economy 2001-2011. We compute various optimized state-contingent tax-spending policy rules when the policy aim is shock …
Persistent link: https://www.econbiz.de/10009731213
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Fiscal consolidation and its cross-country effects
Philippopulos, Apostolēs; Varthalitis, Petros; … - 2016
We build a new Keynesian DSGE model consisting of two heterogeneous countries participating in a monetary union. We study how public debt consolidation in a country with high debt (like Italy) affects welfare in a country with solid public finances (like Germany). Our results show that debt...
Persistent link: https://www.econbiz.de/10011515282
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Rent-seeking competition from state coffers : a calibrated DSGE model of the euro area
Angelopoulos, Konstantinos (contributor);  … - 2006
treatment at the expense of the general public interest, and so the aggregate economy stagnates. The model is calibrated to the …
Persistent link: https://www.econbiz.de/10003300952