The government’s choices of the corporate tax rate and public investment are interdependent. In particular, they both … international tax competition drives the statutory tax rate down from 45% to 30%, public investment is reduced by 0.4% of output at … corporate tax rate and public investment are endogenous. More precisely, a decline of 15% in the corporate tax rate reduces …

Despite intense calls for safeguarding public investment in Europe, public investment expenditure, when measured in … temporary and permanent public investment shocks generate larger fiscal multipliers than exogenous increases in public … public consumption and a permanent fall in public investment, keeping thereby the overall level of public spending constant …

macroeconomic effects of public and private investment through VAR analysis. From impulse response functions, we are able to assess … the extent of crowding-in or crowding-out of both components of investment. We also compute the associated macroeconomic … rates of return of public and private investment for each country. The results point mostly to the existence of positive …

, investment and loan supply equations. The short-run dynamics of loan demand for the euro area are subsequently modelled by means …

impact on the cointegration properties in empirical modelling, the monetary model in Coenen & Vega (2001) based on fixed …

cointegration framework. We find significant differences between the determinants of holdings of small and large denominations as …

the Johansen cointegration framework, four Behavioural Equilibrium Exchange Rate models are estimated using four different …