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Trend Growth and the Dynamic Effects of Government Spending
Tesfaselassie, Mewael F. - Institut für Weltwirtschaft (IfW) - 2011
consumption and the fiscal multiplier given that consumption and labor are somewhat complementary …
Persistent link: https://www.econbiz.de/10008805609
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Confronting the Representative Consumer with Household-Size Heterogeneity
Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2010
Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...
Persistent link: https://www.econbiz.de/10008727755
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Stock Market Wealth, Private Saving, and the Current Account in the United States: Should We Worry?
Strauß, Hubert - Institut für Weltwirtschaft (IfW) - 1999
The paper investigates by means of cointegration analysis whether the recently observed low levels of private saving and the current account balance in the United States are worrisome in the sense that they cannot be sufficiently explained by determinants which performed well in the past. Stock...
Persistent link: https://www.econbiz.de/10005818865
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Environmental tax reform and the double dividend: An econometric demand analysis
Scholz, Christian M. - Institut für Weltwirtschaft (IfW) - 1997
This paper examines the empirical relevance of the double dividend of revenue neutral marginal environmental tax reforms. For this purpose we use an extended version of the Ahmad-Stern model of indirect taxation. This version includes environmental externalities. We estimate the key parameters...
Persistent link: https://www.econbiz.de/10009276716
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The Evolution of Inflation and Unemployment: Explaining the Roaring Nineties
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2007
This paper argues that there is a nonzero inflation-unemployment tradeoff in the long-run due to frictional growth, a phenomenon that encapsulates the interplay of nominal staggering and money growth. The existence of a downward-sloping long-run Phillips curve suggests the development of a...
Persistent link: https://www.econbiz.de/10005818817
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Current Account Imbalances and Income Inequality: Theory and Evidence
Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012
account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in …
Persistent link: https://www.econbiz.de/10010886828
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Finding communities in credit networks
Bargigli, Leonardo; Gallegati, Mauro - Institut für Weltwirtschaft (IfW) - 2012
In this paper the authors focus on credit connections as a potential source of systemic risk. In particular, they seek to answer the following question: how do we find densely connected subsets of nodes within a credit network? The question is relevant for policy, since these subsets are likely...
Persistent link: https://www.econbiz.de/10010956113
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On the bottom-up foundations of the banking-macro nexus
Wäckerle, Manuel - Institut für Weltwirtschaft (IfW) - 2013
economic system because it links the monetary domain with the real domain of economic production and consumption. The evolution …
Persistent link: https://www.econbiz.de/10010983164
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Structure and Temporal Change of Credit Network between Banks and Large Firms in Japan
Fujiwara, Yoshi; Aoyama, Hideaki; Ikeda, Yuichi; … - Institut für Weltwirtschaft (IfW) - 2009
Credit relationships between commercial banks and quoted firms are studied for the structure and its temporal change from the year 1980 to 2005. At each year, the credit network is regarded as a weighted bipartite graph where edges correspond to the relationships and weights refer to the amounts...
Persistent link: https://www.econbiz.de/10005097477
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The housing wealth effect on consumption reconsidered
Lindner, Fabian - Institut für Weltwirtschaft (IfW) - 2014
Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing … classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …
Persistent link: https://www.econbiz.de/10010956068