Narrow search
Showing 1 - 10 of 155
Cover Image
Is there convergence of Russia's regions? : exploring the empirical evidence ; 1995 - 2010
Lehmann, Hartmut; Silvagni, Maria Giulia - 2013
This paper analyzes convergence in per capita gross regional product of Russia's regions during the period 1995 …-2010, when regional data are available. Using a panel regression framework we find no evidence for beta-convergence. Instead we … regional product confirm this outcome as do non-parametric estimates of convergence, namely estimates using Markov transition …
Persistent link: https://www.econbiz.de/10010127808
Cover Image
Regional convergence in Russia : estimating a neoclassical growth model
Lehmann, Hartmut; Oščepkov, Aleksej Ju.; Silvagni, … - 2020
In this paper, we study convergence in per capita gross regional products across Russian regions in the period from … model to analyze the regional convergence process in the Russian case. We also take into account possible spatial effects … and do a series of other robustness checks. Our main estimates establish a convergence rate of around 2% per year. While …
Persistent link: https://www.econbiz.de/10012183996
Cover Image
The impact of local decentralization on economic growth : evidence from U.S. counties
Hammond, George W.; Tosun, Mehmet Serkan - 2009
We analyze the impact of fiscal decentralization on U.S. county population, employment, and real income growth. Our findings suggest that government organization matters for local economic growth, but that the impacts vary by government unit and by economic indicator. We find that single-purpose...
Persistent link: https://www.econbiz.de/10003919883
Cover Image
Is the Public Investment Multiplier Higher in Developing Countries? An Empirical Exploration
Izquierdo, Alejandro - 2020
Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear...
Persistent link: https://www.econbiz.de/10012843305
Cover Image
Mexico Needs a Fiscal Twist : Response to COVID-19 and Beyond
Ahmed Hannan, Swarnali; Honjo, Keiko; Raissi, Mehdi - 2021
Mexico's fiscal response to the pandemic has been modest compared to its peers, reflecting the authorities' desire to not issue new debt for spending. This approach, however, risks a more severe recession and a weaker economic recovery, with further costs in the future. Balancing the need for...
Persistent link: https://www.econbiz.de/10013314839
Cover Image
The Fiscal Multiplier of Public Investment : The Role of Corporate Balance Sheet
Espinoza, Raphael A.; Gamboa-Arbelaez, Juliana; Sy, … - 2021
This paper explores whether public investment crowds out or crowds in private investment. To this aim, we build a database of about half a million firms from 49 countries. We find that the effect of public investment on corporate investment depends both on leverage and financial constraints....
Persistent link: https://www.econbiz.de/10013315095
Cover Image
The Welfare Multiplier of Public Infrastructure Investment
Ganelli, Giovanni - 2016
We analyze the welfare multipliers of public spending (the consumption equivalent change in welfare for one dollar change in public spending) in a DSGE model. The welfare multipliers of public infrastructure investment are positive if infrastructure is sufficiently effective. When the...
Persistent link: https://www.econbiz.de/10012996060
Cover Image
U.S. And Euro Area Monetary and Fiscal Interactions During the Pandemic : A Structural Analysis
Hodge, Andrew; Jakab, Zoltan; Lindé, Jesper; Nguyen, … - 2022
This paper employs a two-country New Keynesian DSGE model to assess the macroeconomic impact of the changes in monetary policy frameworks and the fiscal support in the U.S. and euro area during the pandemic. Moving from a previous target of “below, but close to 2 percent” to a formal...
Persistent link: https://www.econbiz.de/10014237881
Cover Image
The Fiscal Multiplier of European Structural Investment Funds : Aggregate and Sectoral Effects with an Application to Slovenia
Durand, Luigi; Espinoza, Raphael A. - 2022
In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first analyze aggregate data and find large and...
Persistent link: https://www.econbiz.de/10013305624
Cover Image
Centripetal Forces in China's Economic Take-Off
Dayal-Gulati, Anuradha; Husain, Aasim - 2021
have increased the rate of convergence in per capita incomes across China's provinces. However, the pattern of FDI, which …
Persistent link: https://www.econbiz.de/10013317895