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Fiscal Policy During Business Cycles in Developing Countries: The Case of Africa
Leibfritz, Willi; Rottmann, Horst - CESifo - 2013
Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...
Persistent link: https://www.econbiz.de/10010718528
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Monetary Persistence and the Labor Market: A New Perspective
Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis - CESifo - 2010
In this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to replicate many important stylized facts of the business...
Persistent link: https://www.econbiz.de/10008572528
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Structural Distortions and Decentralized Fiscal Policies in EMU
Beetsma, Roel; Bovenberg, Lans - CESifo - 2001
The combination of discretionary monetary policy, labor-market distortions and nominal wage rigidity yields an … inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …
Persistent link: https://www.econbiz.de/10005765964
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Fiscal Multipliers and the Choice of Zero Lower Bound Modeling
Siemsen, Thomas; Watzka, Sebastian - CESifo - 2013
an appropriate constraint for policy. We show that the economic significant differences in the size of the fiscal …
Persistent link: https://www.econbiz.de/10010681227
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Dynamics and Time Scope of Post War Recovery Required for Compensating Civil War Economic Losses
Nam, Chang Woon; Schumacher, Jan - CESifo - 2013
Civil war is often caused by poverty, and further demolishes existing capital. Such a vicious circle is detrimental for economic development of countries experiencing civil war. Civil war may also contribute to creative destructions of traditional economic, social and political system, leading...
Persistent link: https://www.econbiz.de/10010690376
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Credit Shocks and Macroeconomic Fluctuations in Emerging Markets
Romain, Houssa; Mohimont, Jolan; Otrok, Chris - CESifo - 2013
In this paper, we examine the role of global and domestic credit supply shocks in macroeconomic fluctuations for Emerging Markets. For this purpose, we impose a set of zero and sign restrictions within a medium-scale Bayesian Vector Auto-Regressive model. Quarterly data from South Africa and G-7...
Persistent link: https://www.econbiz.de/10010668472
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One Size Fits All? Decentralization, Corruption, and the Monitoring of Bureaucrats
Lessmann, Christian; Markwardt, Gunther - CESifo - 2009
freedom, whereas countries without effective monitoring suffer from decentralization. Our policy implication is that a free …
Persistent link: https://www.econbiz.de/10004979408
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Tax Competition, Elastic Labor Supply, and Growth
Hange, Ulrich - CESifo - 2008
harmful for growth. Second, we derive the optimal tax policy. A regional government chooses an inefficiently low tax rate on …
Persistent link: https://www.econbiz.de/10005406096
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Trade Sanctions, Financial Transfers and BRIC's Participation in Global Climate Change Negotiations
Tian, Huifang; Whalley, John - CESifo - 2009
Countries can reduce global emissions by reducing own consumption since they are linked to the total value of consumption world wide. Two effects are at issue: a utility loss from forgone consumption and a utility gain from lowered temperature change. It is thus unclear whether own country...
Persistent link: https://www.econbiz.de/10005013073
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A Decade of Editing the European Economic Review
Eckstein, Zvi; Gal-Or, Esther; Gylfason, Thorvaldur; … - CESifo - 2011
This story describes the circumstances that led to all five of us starting as editors at the same time, the unexpected things we have found, the unanticipated reactions we have encountered, how we worked as an editorial team, the central role of the editorial office manager, how we managed to...
Persistent link: https://www.econbiz.de/10009364731