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Primary surplus and debt projections based on estimated fiscal reaction functions for euro area countries

Plödt, Martin; Reicher, Claire - Institut für Weltwirtschaft (IfW) - 2014

We project the path of the public debt and primary surpluses for a number of countries in the euro area under a fiscal rule based on a set of estimated fiscal policy reaction functions. Our fiscal rule represents a fiscal analogue to a well-known monetary policy rule, and it is calibrated using...

Persistent link: https://www.econbiz.de/10010886925

The Macroeconomic Effects of Fiscal Consolidation in Dynamic General Equilibrium

Schwarzmüller, Tim; Wolters, Maik - Institut für Weltwirtschaft (IfW) - 2014

We provide a systematic analysis of fiscal consolidation in a medium-scale dynamic general equilibrium model. Our results show that the choice of the consolidation instrument is very important, not only with respect to the short- and long-run output effects of the different consolidation...

Persistent link: https://www.econbiz.de/10010933265

The role of lenders' trust in determining borrowing conditions for sovereign debt: An analysis of one-period government bonds with default risk

Guo, Yanling - Institut für Weltwirtschaft (IfW) - 2015

In this paper, the author considers the sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the weight assigned to the lenders' interest by the borrowing government at the time of...

Persistent link: https://www.econbiz.de/10011269110

Fiscal Taylor Rules in the Postwar United States

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2009

Recent research and events have brought fiscal policy back into the spotlight. Fiscal Taylor rules and error correction models have represented two different ways of quantifying the feedbacks from fiscal and economic conditions to fiscal policy decisions. This paper synthesizes these two ideas,...

Persistent link: https://www.econbiz.de/10005818814

Global Governance: Old and New Issues

Hufbauer, Gary Clyde - Institut für Weltwirtschaft (IfW) - 2008

supplies, immigration, and economic responses to political chaos. A few of these, but not the majority, are seen as good …

Persistent link: https://www.econbiz.de/10005700588

Long-Run Determinants of Immigration to Germany 1974-1999: A Ricardian Framework

Foders, Federico - Institut für Weltwirtschaft (IfW) - 2003

This paper examines the long-run determinants of immigration to Germany using a modified version of the Ricardo model …

Persistent link: https://www.econbiz.de/10005818842

Germany; an Immigration Country

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2003

Germany has about the same proportion of foreigners in its population as the United States, it is an immigration … country. In a way, Germany has let immigration happen, but it did not really have an explicit immigration policy in the past …. Now it has to make up its mind on its immigration policy in the future. The paper looks at the experience with immigration …

Persistent link: https://www.econbiz.de/10005818846

The impact of corruption on apprehension level of immigrants: A study of the United States immigration

Buzurukov, Bilol; Lee, Byeong Wan - Institut für Weltwirtschaft (IfW) - 2014

This paper demonstrates the effect of country level corruption on illicit behavior of individuals in a foreign country. The empirical research investigates the probability of individuals being apprehended overseas due to the influence of corrupt environment in their home countries. Using...

Persistent link: https://www.econbiz.de/10010961611

Estimating simple fiscal policy reaction functions for the euro area countries

Plödt, Martin; Reicher, Claire - Institut für Weltwirtschaft (IfW) - 2014

We formulate and estimate a simple fiscal policy reaction function for the euro area and individual euro area countries. Our reaction function allows for primary surpluses to feature three components: an anti-cyclical response of primary surpluses to the output gap, a response to the debt-GDP...

Persistent link: https://www.econbiz.de/10010886926

A set of estimated fiscal rules for a cross-section of countries: Stabilization and consolidation through which instruments?

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2013

This paper provides a set of detailed estimated fiscal reaction functions for a panel of twenty industrialized countries, and it discusses commonalities and differences with regard to systematic fiscal policies across countries. In general, the countries in the panel adjust tax revenues strongly...

Persistent link: https://www.econbiz.de/10010886930