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Auerbach, Alan J. - 2019

outcomes and elasticities, including the responses of the labor share and the labor wedge to demand shocks and the elasticity … of output with respect to labor inputs. We also decompose changes in work hours into different margins (hours per worker …, the employment rate, and the labor force) and examine effects on local rental prices, wages, and firm entry. We compare …

Persistent link: https://www.econbiz.de/10012480310

Does Policy Communication During Covid Work?

Coibion, Olivier - 2020

Using a large-scale survey of U.S. households during the Covid-19 pandemic, we study how new information about fiscal and monetary policy responses to the crisis affects households' expectations. We provide random subsets of participants in the Nielsen Homescan panel with different combinations...

Persistent link: https://www.econbiz.de/10012481579

Inequality and Volatility Moderation in Russia : Evidence from Micro-Level Panel Data on Consumption and Income

Gorodnichenko, Yuriy - 2009

Monitoring Survey (RLMS) for 1994-2005. We analyze cross-sectional income and consumption inequality and find that inequality … shocks. The response of consumption to permanent and transitory income shocks becomes weaker later in the sample, consistent …

Persistent link: https://www.econbiz.de/10012463569

Myth and Reality of Flat Tax Reform : Micro Estimates of Tax Evasion Response and Welfare Effects in Russia

Gorodnichenko, Yuriy - 2008

Using micro-level data, we examine the effects of Russia's 2001 flat rate income tax reform on consumption, income, and … assess the deadweight loss from personal income tax in the presence of tax evasion based on the consumption response to tax …

Persistent link: https://www.econbiz.de/10012464927

Effects of Fiscal Policy on Credit Markets

Auerbach, Alan J. - 2020

Credit markets typically freeze in recessions: access to credit declines and the cost of credit increases. A conventional policy response is to rely on monetary tools to saturate financial markets with liquidity. Given limited space for monetary policy in the current economic conditions, we...

Persistent link: https://www.econbiz.de/10012479179

Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy

Auerbach, Alan J. - 2020

We evaluate the effects of inequality, fiscal policy, and COVID19 restrictions in a model of economic slack with potentially rigid capital operating costs. Inequality has large negative effects on output, while also diminishing the effects of demand-side fiscal stimulus. COVID restrictions can...

Persistent link: https://www.econbiz.de/10012481561

Measuring the Output Responses to Fiscal Policy

Auerbach, Alan J. - 2010

A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large differences in the size of spending multipliers in recessions and expansions with fiscal policy being...

Persistent link: https://www.econbiz.de/10012462346

Fiscal Stimulus and Fiscal Sustainability

Auerbach, Alan J. - 2017

The Great Recession and the Global Financial Crisis have left many developed countries with low interest rates and high levels of public debt, thus limiting the ability of policymakers to fight the next recession. Whether new fiscal stimulus programs would be jeopardized by these already heavy...

Persistent link: https://www.econbiz.de/10012453922

Effects of Fiscal Shocks in a Globalized World

Auerbach, Alan J. - 2015

While theoretical models consistently predict that government spending shocks should lead to appreciation of the domestic currency, empirical studies have been stubbornly finding depreciation. Using daily data on U.S. defense spending (announced and actual payments), we document that the dollar...

Persistent link: https://www.econbiz.de/10012457566

Fiscal Multipliers in Japan

Auerbach, Alan J. - 2014

In this paper, we estimate government purchase multipliers for Japan, following the approach used previously for a panel of OECD countries (Auerbach and Gorodnichenko, 2013). This approach allows multipliers to vary smoothly according to the state of the economy and uses real-time forecast data...

Persistent link: https://www.econbiz.de/10012458753