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Trend Growth and the Dynamic Effects of Government Spending
Tesfaselassie, Mewael F. - Institut für Weltwirtschaft (IfW) - 2011
The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less inflationary are government spending shocks and vice versa. Moreover, on impact output is higher but exhibits...
Persistent link: https://www.econbiz.de/10008805609
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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
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Does Short-Time Work Save Jobs? A Business Cycle Analysis
Balleer, Almut; Gehrke, Britta; Lechthaler, Wolfgang; … - Institut für Weltwirtschaft (IfW) - 2013
This paper analyzes the effects of short-time work (i.e., government subsidized working time reductions) on unemployment and output fluctuations. The central question is whether the rule based component (i.e., the existence of the institution short-time work) and the discretionary component...
Persistent link: https://www.econbiz.de/10010886965
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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
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Sectoral R&D Intensity and Exchange Rate Volatility: A Panel Study for OECD Countries
Mahagaonkar, Prashanth; Schweickert, Rainer; Chavali, … - Institut für Weltwirtschaft (IfW) - 2009
A recent literature has pointed at potential negative effects of exchange rate volatility on innovation. In this paper … years 1987 - 2003. We find that the direct negative effect of volatility is pronounced in manufacturing sector but is … dominated by the indirect effect via the export channel. Services do not face any effects of volatility on R&D intensities …
Persistent link: https://www.econbiz.de/10005079107
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On the (de)stabilizing effects of news shocks
Winkler, Roland; Wohltmann, Hans-Werner - Institut für Weltwirtschaft (IfW) - 2009
This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas anticipation amplifies volatility …) to provide numerical evidence that news shocks increase the volatility of key macroeconomic variables in the euro area …
Persistent link: https://www.econbiz.de/10005017501
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Business Cycle Volatility in Germany
Buch, Claudia M.; Doepke, Joerg; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2002
Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and … structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …
Persistent link: https://www.econbiz.de/10005755211
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Fiscal Consolidation in Europe: Pre- and Post-Maastricht
Kamps, Christophe - Institut für Weltwirtschaft (IfW) - 2001
Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe have changed after the Maastricht Treaty came into force. Recently Giavazzi, Jappelli and Pagano (2000) found evidence that national saving responds nonlinearly to fiscal policy...
Persistent link: https://www.econbiz.de/10005700535
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Germany's Social Security System under Strain
Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2003
Germany'’s social security system is surveyed, its benefits and contributions are discussed. The expansion of this system in the last decades is described, its impact on employment and growth is studied and proposals for the reform of the system are discussed.
Persistent link: https://www.econbiz.de/10005700597
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An enabling mechanism for the creation, adjustment, and dissolution of states and governmental units
Hausken, Kjell; Knutsen, John F. - Institut für Weltwirtschaft (IfW) - 2010
The article proposes an enabling mechanism for the creation, adjustment and dissolution of governmental units, giving autonomy to each individual as in a direct democracy. The mechanism is designed such that Pareto optimality is possible, in contrast to earlier models which make various...
Persistent link: https://www.econbiz.de/10008615597