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We study state-dependent effects of narratively identified tax shocks in Germany and the UK over the period 1974Q1 … cuts initially have a larger effect during times of nonrecession in Germany, whereas we find no state-dependent effects for … cuts and hikes individually: tax hikes can be expansionary in Germany (UK) when implemented during non …
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Using an innovative dataset for ICT use for five countries in Europe, we examine the impact and association of ICT on socio-economic exclusion. Using OLS regression we find significant wage premiums for PC and internet usage at the workplace. Following Dinardo/Fortin/Lemieux (1997), we examine...
Persistent link: https://www.econbiz.de/10014075919
Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...
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substantial heterogeneity in outcomes. Countries like Korea, Japan, Germany, and Norway and cities such as Tokyo and Seoul have …
Persistent link: https://www.econbiz.de/10013221923
We characterize empirically the financial cycle using two approaches: analysis of turning points and frequency-based filters. We identify the financial cycle with the medium-term component in the joint fluctuations of credit and property prices; equity prices do not fit this picture well. We...
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