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Financial crises and national policy issues: An overview
Ffrench-Davis, Ricardo - 2002
In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (rising external deficit, with a significant liquid component appreciating exchange rates; low capital formation,...
Persistent link: https://www.econbiz.de/10010279100
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Fiscal and monetary policies and the cost of sudden stops
Hutchison, Michael M.; Noy, Ilan; Wang, Lidan - 2007
This article investigates the effects of macroeconomic policy (monetary and fiscal) on output growth during financial crises characterized by a sudden stop" in net capital inflows in developing and emerging market economies. We investigate 83 sudden stop crises in 77 countries over 1982-2003...
Persistent link: https://www.econbiz.de/10010285311
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Globalization and the sustainability of large current account imbalances: Size matters
Aizenman, Joshua; Sun, Yi - 2007
This paper evaluates the sustainability of large current account imbalances in the era when the Chinese GDP growth rate and current account/GDP exceed 10%. We investigate the size distribution and the durability of current account deficits during 1966-2005, and report the results of a simulation...
Persistent link: https://www.econbiz.de/10010285339
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Do tax cuts increase consumption? An experimental test of Ricardian Equivalence
Meissner, Thomas; Rostam-Afschar, Davud - 2014
This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …
Persistent link: https://www.econbiz.de/10010392293
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Do tax cuts increase consumption? An experimental test of Ricardian Equivalence
Rostam-Afschar, Davud; Meissner, Thomas - 2014
This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …
Persistent link: https://www.econbiz.de/10010397052
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Do tax cuts Increase consumption? An experimental test of Ricardian Equivalence
Meissner, Thomas; Rostam-Afschar, Davud - 2014
This paper tests whether the Ricardian Equivalence proposition holds in a life cycle consumption laboratory experiment … not hold in general. Our results suggest that taxation has a significant and strong impact on consumption choice. Over the … life cycle, a tax relief increases consumption on average by about 22% of the tax rebate. A tax increase causes consumption …
Persistent link: https://www.econbiz.de/10010491444
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Expansionary fiscal contractions? Evidence from panel data
Hogan, Vincent - 2003
economies during times of crisis. We find some limited evidence in its favour: if public consumption is reduced in response to a … fiscal crisis (as defined by a high level of debt), private consumption does seem to increase. However the size of the effect … is smaller than that typically found in similar studies. Furthermore, the increase in private consumption is not usually …
Persistent link: https://www.econbiz.de/10010293826
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - 2007
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...
Persistent link: https://www.econbiz.de/10010298384
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Topics in fiscal policy: Evidence from a representative survey of the German population
Hayo, Bernd; Neumeier, Florian; Uhl, Matthias - 2014
of tax changes on consumption and savings; and 4) the effect of tax changes on labour market activities. …
Persistent link: https://www.econbiz.de/10010335867
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Households' response to the wealth effects of inflation
Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - 2024
consumption and hypothetical debt decisions. Our findings suggest that real wealth mediates the sensitivity of consumption to …
Persistent link: https://www.econbiz.de/10014543616