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Regional effects of federal tax shocks
Hayo, Bernd; Uhl, Matthias - 2012
This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...
Persistent link: https://www.econbiz.de/10010294366
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Regional effects of federal tax shocks
Hayo, Bernd; Uhl, Matthias - 2012
This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...
Persistent link: https://www.econbiz.de/10009534065
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Regional Effects of Federal Tax Shocks
Uhl, Matthias - 2012
This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...
Persistent link: https://www.econbiz.de/10013108133
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Regional Effects of Federal Tax Shocks
Hayo, Bernd; Uhl, Matthias - Volkswirtschaft Abteilung, Fachbereich … - 2012
This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...
Persistent link: https://www.econbiz.de/10010543457
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Housing market convergence: Evidence from Germany
Unal, Umut; Hayo, Bernd; Erol, Isil - 2022
This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset … that covers all the country's administrative districts. In addition to conventional tests for β-convergence and δ-convergence … districts. Our results reveal no evidence of convergence across Germany or within states; rather, we discover widespread …
Persistent link: https://www.econbiz.de/10014322584
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Housing market convergence : evidence from Germany
Unal, Umut; Hayo, Bernd; Erol, Isil - 2022
This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset … that covers all the country's administrative districts. In addition to conventional tests for 𝛽-convergence and 𝜎-convergence … districts. Our results reveal no evidence of convergence across Germany or within states; rather, we discover widespread …
Persistent link: https://www.econbiz.de/10013460037
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Political leaders' socioeconomic background and public deficits: Evidence from OECD countries
Hayo, Bernd; Neumeier, Florian - 2013
This paper empirically analyses the relationship between political leaders' socioeconomic backgrounds and public budget deficits utilising panel data on 21 OECD countries from 1980 to 2008. Building on sociological, as well as economic, research, we argue that the socioeconomic status of...
Persistent link: https://www.econbiz.de/10010294450
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Government Spending Shocks, Sovereign Risk and the Exchange Rate Regime
Bonam, Dennis; Lukkezen, Jasper - 2013
Conventional wisdom teaches that the output response upon a fiscal expansion is higher under fixed than floating exchange rates for a small open economy. We analyse the effects of fiscal expansions using a New Keynesian model and find that this result reverses in times of sovereign default risk....
Persistent link: https://www.econbiz.de/10010328326
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Fiscal and Monetary Policy Coordination, Macroeconomic Stability, and Sovereign Risk
Bonam, Dennis; Lukkezen, Jasper - 2014
In standard macroeconomic models, debt sustainability and price level determinacy are achieved when fiscal policy avoids explosive debt and monetary policy controls inflation, irrespective of the relative strengths of each policy stance. We examine how these policy requirements for equilibrium...
Persistent link: https://www.econbiz.de/10010328350
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Topics in fiscal policy: Evidence from a representative survey of the German population
Hayo, Bernd; Neumeier, Florian; Uhl, Matthias - 2014
This paper provides background information and basic descriptive statistics for a representative survey of the German population conducted on our behalf by GfK in the first quarter of 2013. The survey addresses important topics in fiscal policy, including: 1) public preferences on the...
Persistent link: https://www.econbiz.de/10010335867