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Persistent link: https://www.econbiz.de/10011509544
The aim of this paper is to analyze the relation between the volatility of government consumption and country size … size; 2) the relation between government spending volatility and the size of a country is more negative for more volatile … economies; 3) the relation between government consumption volatility and country size is more negative for functions of …
Persistent link: https://www.econbiz.de/10005046158
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Fiscal constitutions comprise the set of rules and frameworks guiding fiscal policy that are enshrined in a country’s fundamental laws. This paper compares the fiscal constitutions of 15 federal countries by empirically assessing five building blocks: 1) the power of sub-national governments...
Persistent link: https://www.econbiz.de/10011399580
This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest...
Persistent link: https://www.econbiz.de/10012446129
This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest...
Persistent link: https://www.econbiz.de/10008458987
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Persistent link: https://www.econbiz.de/10008668128
Recent estimates of the welfare cost of consumption volatility find that it is significant in developing nations, where … consumption volatility is of utmost relevance. Based on cross-country data for the period 1960-2005, the paper explains … consumption volatility using three sets of variables: one refers to the volatility of income and the persistence of income shocks …
Persistent link: https://www.econbiz.de/10010521126
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