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Government size, composition, volatility and economic growth
Afonso, António; Furceri, Davide - 2008
This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...
Persistent link: https://www.econbiz.de/10011604895
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Government Size, Composition, Volatility and Economic Growth
Afonso, António; Furceri, Davide - 2021
This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...
Persistent link: https://www.econbiz.de/10013316642
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Political Referenda and Investment : Evidence from Scotland
Azqueta-Gavaldon, Andres - 2020
the Scottish referendum for independence while negligible at the aggregate level, relates more strongly with the …
Persistent link: https://www.econbiz.de/10012834665
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Brexit, What Brexit? Euro Area Portfolio Exposures to the United Kingdom Since the Brexit Referendum
Carvalho, Daniel; Schmitz, Martin - 2022
We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK … since the Brexit referendum. The analysis also reveals an increase in the euro area's exposure to listed shares issued by UK … referendum, which appear to have largely outweighed the uncertainties associated with Brexit …
Persistent link: https://www.econbiz.de/10014239454
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Economic Performance and Government Size
Afonso, António - 2011
We construct a growth model with an explicit government role, where more government resources reduce the optimal level of private consumption and of output per worker. In the empirical analysis, for a panel of 108 countries from 1970-2008, we use different proxies for government size and...
Persistent link: https://www.econbiz.de/10013119076
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Mutual assistance between Federal Reserve Banks, 1913-1960 as prolegomena to the TARGET2 debate
Eichengreen, Barry; Mehl, Arnaud; Chiţu, Livia; … - 2014
This paper reconstructs the forgotten history of mutual assistance among Reserve Banks in the early years of the Federal Reserve System. We use data on accommodation operations by the 12 Reserve Banks between 1913 and 1960 which enabled them to mutualise their gold reserves in emergency...
Persistent link: https://www.econbiz.de/10011605731
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Mutual Assistance between Federal Reserve Banks, 1913-1960 as Prolegomena to the TARGET2 Debate
Eichengreen, Barry - 2014
This paper reconstructs the forgotten history of mutual assistance among Reserve Banks in the early years of the Federal Reserve System. We use data on accommodation operations by the 12 Reserve Banks between 1913 and 1960 which enabled them to mutualise their gold reserves in emergency...
Persistent link: https://www.econbiz.de/10013053813
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The determinants of public deficit volatility
Agnello, Luca; Sousa, Ricardo M. - 2009
This paper empirically analyzes the political, institutional and economic sources of public deficit volatility. Using the system-GMM estimator for linear dynamic panel data models and a sample of 125 countries analyzed from 1980 to 2006, we show that higher public deficit volatility is typically...
Persistent link: https://www.econbiz.de/10011605088
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Reforming public expenditure in industrialised countries: are there trade-offs?
Schuknecht, Ludger; Tanzi, Vito - 2005
In this paper, we show that, contrary to common beliefs, over the past two decades several countries were able to reduce public spending by remarkable amounts. These countries did not seem to have suffered from these large reductions either in a macroeconomic sense, or in terms of lower values...
Persistent link: https://www.econbiz.de/10011604481
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Does government spending crowd in private consumption? Theory and empirical evidence for the euro area
Coenen, Günter; Straub, Roland - 2005
In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non-Ricardian households is in general...
Persistent link: https://www.econbiz.de/10011604559