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Monetary and fiscal policy interaction : What is the role of the transaction cost of the tax system in stabilisation policies?

Chronis, Panagiotis; Strantzalou, Aspasia - 2022

cost of the tax system that underlies the state - tax payer interaction. In this way we develop a channel through which the … determinants (the transaction cost, the tax rates and the debt level). The analysis is carried out in a framework of a monetary …

Persistent link: https://www.econbiz.de/10014030400

Fiscal Policy with an Informal Sector

Dellas, Harris; Malliaropulos, Dimitris; Papageorgiou, … - 2022

particular tax– policy on economic activity and tax revenue. We add an informal sector to the Bank of Greece DSGE model and use … tax rates increased by much more and tax revenue by much less than predicted. The model replicates the official output …

Persistent link: https://www.econbiz.de/10014078167

Macroeconomic uncertainties, prudent debt targets and fiscal rules

Fall, Falilou; Fournier, Jean-Marc - 2015

The sharp rise in debt experienced by most OECD countries raises questions about the prudent debt level countries should target. It also raises questions about the fiscal frameworks needed to reach them and to accommodate cyclical fluctuations along the path towards a prudent debt target. The...

Persistent link: https://www.econbiz.de/10011399529

FiMod - a DSGE Model for Fiscal Policy Simulations

Stahler, Nikolai - 2016

This paper develops a medium-scale dynamic, stochastic, general equilibrium (DSGE) model for fiscal policy simulations. Relative to existing models of this type, our model incorporates a two-country monetary union structure, which makes it well suited to simulate fiscal measures by relatively...

Persistent link: https://www.econbiz.de/10012991064

How Effective are Automatic Stabilisers? Theory and Empirical Results for Germany and Other OECD Countries

Scharnagl, Michael - 2016

Persistent link: https://www.econbiz.de/10012991352

How to starve the beast: fiscal and monetary policy rules

Martin, Fernando M. - 2019

Societies often rely on simple rules to restrict the size and behavior of governments. When fiscal and monetary policies are conducted by a discretionary and profligate government, I find that revenue ceilings vastly outperform debt, deficit and monetary rules, both in effectiveness at curbing...

Persistent link: https://www.econbiz.de/10012137093

The nonlinear effects of fiscal policy

Brinca, Pedro; Faria-e-Castro, Miguel; Ferreira, Miguel H. - 2019

We argue that the fiscal multiplier of government purchases is increasing in the spending shock, in contrast to what is assumed in most of the literature. The fiscal multiplier is largest for large positive government spending shocks and smallest for large contractions in government spending. We...

Persistent link: https://www.econbiz.de/10012015562

Trends in public finance : insights from a new detailed dataset

Bloch, Debra; Fournier, Jean-Marc; Gonçalves, Duarte; … - 2016

To investigate how public finances could best be designed to promote long-run growth and address inequality, it is essential to have comprehensive, cross-country comparable data on government spending and revenues, along with structural and policy indicators. By identifying key variables of...

Persistent link: https://www.econbiz.de/10011578193

Reducing macroeconomic imbalances in Turkey

Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Erdoğan … - 2014

Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...

Persistent link: https://www.econbiz.de/10010464946

Optimal fiscal policies under market failures

Chien, YiLi; Wen, Yi - 2020

. The Ramsey planner opts neither to use a capital tax to correct the overaccumulation problem if it is caused solely by … precautionary saving---regardless of the feasibility of public debt---nor use debt (financed by consumption tax) to correct the … overaccumulation problem if it is caused solely by pollution---regardless of the feasibility of a capital tax. The key is that the …

Persistent link: https://www.econbiz.de/10012216720