Showing 1 - 10 of 14
Persistent link: https://www.econbiz.de/10011343394
We study convergence and divergence dynamics in a sample of EMU countries by assembling an extensive dataset that …, increasing convergence with the core Euro countries. However, the debt crisis dramatically worsened citizens’ perceptions of …
Persistent link: https://www.econbiz.de/10012585461
Persistent link: https://www.econbiz.de/10010358829
Persistent link: https://www.econbiz.de/10009159260
We study the impact of incomplete consumption risk-sharing on land misallocation in rural economies. We develop a general equilibrium model of land cultivation choices, where heterogeneous agricultural households face idiosyncratic output shocks and insure themselves by participating in a...
Persistent link: https://www.econbiz.de/10015064226
Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? We address this issue with a two country - two period model, where both asymmetric and symmetric productivity shocks may hit the countries. We show that...
Persistent link: https://www.econbiz.de/10011774372
During the sovereign debt crisis, all euro countries have deployed "austerity packages", believing that they could regain the path of growth implementing structural reforms and cutting government spending. Such policies should have led to an initial decline in GDP followed by recovery and a...
Persistent link: https://www.econbiz.de/10011776481
During the sovereign debt crisis, many Euro countries have deployed "austerity packages" implementing structural reforms and cutting government spending. Such policies should have led to an initial decline in GDP followed by recovery and a reduction of the debt to gdp ratio. Key to this outcome...
Persistent link: https://www.econbiz.de/10011818399
This article discusses a form of fiscal monetization that produces losses in the central bank's balance sheet, without a permanent increase in the money base. If an independent central bank acts as a long-sighted policymaker, an optimal helicopter monetary policy can be identified. At the same...
Persistent link: https://www.econbiz.de/10012210740
This paper builds a model of populism called Democratic Rioting in which citizens – i.e. the poor and the rich - are assumed to be heavily influenced by psychological group dynamics that result from banking shocks. We highlight a display of anger that is channelled through an election instead...
Persistent link: https://www.econbiz.de/10012210745