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Fiscal policies, the current account and Ricardian equivalence

Nickel, Christiane (contributor); … - 2008

This paper analyses the empirical relationship between fiscal policy and the current account of the balance of payments and considers how Ricardian equivalence changes this relationship. To do so, we estimate a dynamic panel threshold model for 22 industrialised countries in which the...

Persistent link: https://www.econbiz.de/10003790939

The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey

Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

Persistent link: https://www.econbiz.de/10012643267

Tracking growth in the euro area subject to a dimensionality problem

Comunale, Mariarosaria; Mongelli, Francesco Paolo - 2021

We investigate which variables have supported growth in the euro area over the last 30 years. This is a challenging task due to dimensionality problems: a large set of potential determinants, limited data, and the prospect that some variables could be non-stationary. We assemble a set of 35...

Persistent link: https://www.econbiz.de/10012625874

The asymmetric adjustment of global imbalances : myth or fact?

Dausà, Neus; Stracca, Livio - 2023

We revisit the so-called "secular international problem", whereby the adjustment of current account imbalances purportedly falls entirely on the shoulders of deficit countries. We introduce a stylised model to rationalise an asymmetric counter-cyclical policy reaction that is stronger for...

Persistent link: https://www.econbiz.de/10013552616

Fiscal policy and growth : do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Persistent link: https://www.econbiz.de/10003983667

Household spending and fiscal support during theCOVID-19 pandemic : insights from a new consumer survey

Georgarakos, Dimitris; Kenny, Geoff - 2022

This paper introduces the Consumer Expectations Survey (CES), a new online, high frequency panel survey of euro area consumers' expectations and behaviour. The paper also investigates whether public perceptions about fiscal support measures introduced during the pandemic have influenced spending...

Persistent link: https://www.econbiz.de/10012818792

Investment funds, monetary policy, and the global financial cycle

Kaufmann, Christoph - 2020

This paper studies the role of international investment funds in the transmission of global financial conditions to the euro area using structural Bayesian vector auto regressions. While cross-border banking sector capital flows receded significantly in the aftermath of the global financial...

Persistent link: https://www.econbiz.de/10012316994

Household spending out of a tax rebate : Italian "€80 tax bonus"

Neri, Andrea; Rondinelli, Concetta; Scoccianti, Filippo - 2017

We estimate the consumption response of Italian households to the "Euro80 tax bonus" intro-duced in 2014, using the … their monthly consumption of food and means of transportation by about Euro20 and Euro30, respectively, about 50-60 per cent … mechanism behind our results we then simulate an overlapping generations model of household consumption: the marginal propensity …

Persistent link: https://www.econbiz.de/10011719931

Revenue- versus spending-based consolidation plans : the role of follow-up

Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018

The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...

Persistent link: https://www.econbiz.de/10011904377

Housing finance and monetary policy

Calza, Alessandro; Stracca, Livio; Monacelli, Tommaso - 2009

, the transmission to consumption is stronger only in those countries where mortgage equity release is common and mortgage … constraints and analyze how the response of consumption and residential investment to monetary policy shocks is affected by …

Persistent link: https://www.econbiz.de/10003867073

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