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Electoral Uncertainty, Fiscal Policy and Macroeconomic Fluctuations

Malley, Jim; Philippopoulos, Apostolis; Woitek, Ulrich - CESifo - 2005

In this paper we study the link between elections, fiscal policy and aggregate fluctuations. The set-up is a stylized dynamic stochastic general equilibrium model incorporating both technology and political re-election shocks. The later are incorporated via a two-party model with elections. The...

Persistent link: https://www.econbiz.de/10005094154

Electoral Uncertainty, Fiscal Policies & Growth: Theory and Evidence from Germany, the UK and the US

Economides, George; Malley, Jim; Philippopoulos, Apostolis - CESifo - 2003

In this paper we study the link between elections, fiscal policy and economic growth/fluctuations. The set-up is a dynamic stochastic general equilibrium model of growth and endogenously chosen fiscal policy, in which two political parties can alternate in power. The party in office chooses...

Persistent link: https://www.econbiz.de/10005094314

Political Uncertainty, Public Expenditure and Growth

Darby, Julia; Li, Chol-Won; Muscatelli, Anton - CESifo - 2000

We focus on the link between political instability due to uncertain electoral outcomes and economic growth, through the impact on a government's decisions on how to allocate government expenditure between public consumption and investment. Using an endogenous growth model with partisan electoral...

Persistent link: https://www.econbiz.de/10005406316

Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe

Grauwe, Paul De; Schnabl, Gunther - CESifo - 2004

This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European (CEE) EU candidate countries. The panel estimations for the period between 1994 and 2002 show that de facto measures of exchange rate stability have a better explanatory power...

Persistent link: https://www.econbiz.de/10005766042

Exchange Rate Volatility and Growth in Emerging Europe and East Asia

Schnabl, Gunther - CESifo - 2007

The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to asymmetric real shocks and may enhance the probability...

Persistent link: https://www.econbiz.de/10005766163

Does the Nominal Exchange Rate Regime Matter for Investment?

Böhm, Hjalmar; Funke, Michael - CESifo - 2001

This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate regimes (very hard pegs, intermediate regimes, and floats) by means of a unified approach. The comparison of different exchange rate regimes indicates that currency volatility...

Persistent link: https://www.econbiz.de/10005766171

How a Firm Can Induce Legislators to Adopt a Bad Policy

Dahm, Matthias; Dur, Robert; Glazer, Amihai - CESifo - 2012

This paper shows why a majority of legislators may vote for a policy that benefits a firm but harms all legislators. The firm may induce legislators to support the policy by suggesting that it is more likely to invest in a district whose voters or representative support the policy. In...

Persistent link: https://www.econbiz.de/10010544187

Credibility and Transparency of Central Banks: New Results Based on Ifo’s World Economicy Survey

Waller, Sandra; Haan, Jakob de - CESifo - 2004

This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …

Persistent link: https://www.econbiz.de/10005094291

Does Membership in International Organizations Increase Governments’ Credibility? Testing the Effects of Delegating Powers

Dreher, Axel; Voigt, Stefan - CESifo - 2008

This paper analyzes whether nation-state governments can increase their credibility by becoming members of … international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have … organizations can improve the credibility of nation-state governments. This hypothesis is tested by introducing three new indicators …

Persistent link: https://www.econbiz.de/10005181427