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A Goldilocks Theory of Fiscal Deficits
Mian, Atif; Straub, Ludwig; Sufi, Amir - National Bureau of Economic Research - 2022
the ZLB. A rise in income inequality expands fiscal space outside the ZLB, but contracts it at the ZLB. Calibrating the …
Persistent link: https://www.econbiz.de/10012814482
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Uneven Growth : Automation's Impact on Income and Wealth Inequality
Moll, Benjamin; Rachel, Lukasz; Restrepo, Pascual - National Bureau of Economic Research - 2021
higher capital incomes. This increases inequality. To make this argument, we develop a tractable theory that links technology … effects of automation. We isolate a new theoretical mechanism: automation increases inequality via returns to wealth. The flip … the observed trends in income and wealth inequality and macroeconomic aggregates …
Persistent link: https://www.econbiz.de/10012482656
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Fairness and Redistribution : U.S. versus Europe
Alesina, Alberto - 2003
Different beliefs about how fair social competition is and what determines income inequality, influence the … income inequality and choices of redistributive policies …
Persistent link: https://www.econbiz.de/10012469200
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Political Ideology and Economic Growth in a Democracy : The French Experience, 1871 - 2009
Facchini, François; Melki, Mickaël - HAL - 2012
This paper examines the influence of political ideology on economic growth in the French democracy since 1871. It does so by addressing three main issues : the property and the reliability of a political ideology index in the long-run, the robustness of the relationship between ideology and...
Persistent link: https://www.econbiz.de/10010635028
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Fiscal policy and educational attainment in the United States : a generational accounting perspective
Chojnicki, Xavier (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001937678
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Estimating the Net Fiscal Cost of a Child Tax Credit Expansion
Goldin, Jacob; Maag, Elaine; Michelmore, Katherine - National Bureau of Economic Research - 2021
Recent proposals to expand the Child Tax Credit (CTC) are at the center of current policy discussions in the United States. We study the fiscal cost of three such proposals that would expand refundability of the credit to low-income children, increase the maximum credit amount, and/or eliminate...
Persistent link: https://www.econbiz.de/10012660020
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A Social Insurance Perspective on Pandemic Fiscal Policy : Implications for Unemployment Insurance and Hazard Pay
Romer, Christina; Romer, David - National Bureau of Economic Research - 2021
This paper considers fiscal policy during the pandemic through the lens of optimal social insurance. We develop a simple framework to analyze how government taxes and transfers could mimic the insurance against pandemic income losses that people would like to have had. Permutations of the...
Persistent link: https://www.econbiz.de/10012660097
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Inflation Past, Present and Future : Fiscal Shocks, Fed Response, and Fiscal Limits
Cochrane, John H. - National Bureau of Economic Research - 2022
Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed's slow reaction spur more inflation? I write a simple model that encompasses the Fed's mild projections and its slow reaction, and traditional views that inflation will surge without swift rate rises....
Persistent link: https://www.econbiz.de/10013210124
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The Imbalances of the Bretton Woods System 1965 to 1973 : U.S. Inflation, The Elephant in the Room
Bordo, Michael D. - 2018
This paper argues that the key deep underlying fundamental for the growing international imbalances leading to the collapse of the Bretton Woods system between 1971 and 1973 was rising U.S. inflation since 1965. It was driven in turn by expansionary fiscal and monetary policies--the elephant in...
Persistent link: https://www.econbiz.de/10012481056
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Strategic Interactions in U.S. Monetary and Fiscal Policies
Chen, Xiaoshan - 2020
We estimate a model in which fiscal and monetary policy behavior arise from the optimizing behavior of distinct policy authorities, with potentially different welfare functions. Optimal time-consistent policy behavior fits U.S. time series at least as well as rules-based behavior. American...
Persistent link: https://www.econbiz.de/10012481395