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Macroeconomic Policy and Elections in OECD Democracies
Alesina, Alberto F; Cohen, Gerald D; Roubini, Nouriel - C.E.P.R. Discussion Papers - 1992
The purpose of this paper is to test for evidence of opportunistic `political business cycles' in a large sample of 18 OECD economies. Our results can be summarized as follows. First, we find very little evidence of pre-electoral effects of economic outcomes, in particular, on GDP growth and...
Persistent link: https://www.econbiz.de/10005666821
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Consumer Confidence and Elections
Hardouvelis, Gikas A; Thomakos, Dimitrios D - C.E.P.R. Discussion Papers - 2008
We investigate the behavior of consumer confidence around national elections in the EU-15 countries during 1985:1-2007:3. Consumer confidence increases before the date of elections and falls subsequently by almost the same amount. It is able to predict the strength of the performance of the...
Persistent link: https://www.econbiz.de/10005791524
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Home Country Effects of Foreign Direct Investment: Evidence from Sweden
Blomström, Magnus; Kokko, Ari - C.E.P.R. Discussion Papers - 1994
This paper examines two broad issues related to foreign investment by Swedish multinational corporations (MNCs): first, the effects of outward foreign direct investment on domestic investment, exports and employment, and second, the effects on the domestic economy from the increasing division of...
Persistent link: https://www.econbiz.de/10005666957
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The Exchange Rate - A Shock-Absorber or Source of Shocks? A Study of Four Open Economies
Artis, Michael J; Ehrmann, Michael - C.E.P.R. Discussion Papers - 2000
The paper provides SVAR estimates for four open economies: the UK, Canada, Sweden and Denmark, making explicit a … another: monetary union appears easy to recommend for Sweden and Denmark, much less so for Canada and the UK. …
Persistent link: https://www.econbiz.de/10005789208
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Foreign Direct Investment and Politics: The Swedish Model
Blomström, Magnus; Kokko, Ari - C.E.P.R. Discussion Papers - 1995
Sweden is home to a remarkably large number of prosperous multinationals. We argue that this is partly the result of … regulations and controls have facilitated investment abroad by Swedish firms, while impeding foreign direct investment in Sweden … investment abroad, but opposed foreign investment in Sweden. This paper outlines the development of Swedish foreign investment …
Persistent link: https://www.econbiz.de/10005123621
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Wage Structure and Public Sector Employment: Sweden versus the United States 1970-2002
Domeij, David; Ljungqvist, Lars - C.E.P.R. Discussion Papers - 2006
private sector employment. Our analysis suggests that the dramatic decline of the skill premium in Sweden is the result of an …
Persistent link: https://www.econbiz.de/10005661889
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Fiscal targets. A guide to forecasters?
Paredes-Lodeiro, Joan; Pérez, Javier J; … - C.E.P.R. Discussion Papers - 2015
Should rational agents take into consideration government policy announcements? A skilled agent (an econometrician) could set up a model to combine the following two pieces of information in order to anticipate the future course of fiscal policy in real-time: (i) the ex-ante path of policy as...
Persistent link: https://www.econbiz.de/10011272708
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Sovereign Debt and Structural Reforms
Müller, Andreas; Storesletten, Kjetil; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2015
Motivated the European debt crisis, we construct a tractable theory of sovereign debt and structural reforms under …
Persistent link: https://www.econbiz.de/10011276380
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Optimal Monetary and Fiscal Policy in an Economy with Endogenous Public Debt
Luk, Paul; Vines, David - C.E.P.R. Discussion Papers - 2015
This paper uses a New Keynesian framework to study the coordination of fiscal and monetary policies, in response to an inflation shock when the policymaker acts with commitment. We first show that, in the simplest New Keynesian model, fiscal policy plays no part in the optimal policy response,...
Persistent link: https://www.econbiz.de/10011276383
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Optimal Monetary and Fiscal Policy in an Economy with Inflation Persistence
Luk, Paul; Vines, David - C.E.P.R. Discussion Papers - 2015
This paper studies a simple New-Keynesian model of fiscal and monetary policy coordination when the policymaker acts under commitment. With a New Keynesian Phillips curve it is optimal to control inflation only through the use of monetary policy. But, when price-setters use a Steinsson (2003)...
Persistent link: https://www.econbiz.de/10011276384