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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

The macroeconomic effects of the Euro Area's fiscal consolidation 2011 - 2013 : a simulation-based approach

Rannenberg, Ansgar; Schoder, Christian; Strasky, Jan - 2015

We simulate the Euro Area's fiscal consolidation between 2011 and 2013 by employing two DSGE models used by the ECB and the European Commission, respectively. The cumulative multiplier amounts to 0.7 and 1.0 in the baseline, but increases to 1.3 with a reasonably calibrated financial accelerator...

Persistent link: https://www.econbiz.de/10011311671

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

The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

It is by now a widely shared insight that fiscal policy needs to be re-strengthened as a macroeconomic policy instrument within European macroeconomic policies: Recent experiences with austerity policies, new research regarding the size of the fiscal multiplier and the fact that monetary policy...

Persistent link: https://www.econbiz.de/10011477456

Top-down vs. bottom-up? : reconciling the effects of tax and transfer shocks on output

Gechert, Sebastian; Paetz, Christoph; Villanueva, Paloma - 2016

shocks for Germany by reconstructing and extending the tax shock series of Hayo and Uhl (2014) and coding a shock series for … social security contributions, benefits and transfers. Based on quarterly data for 1974q1 to 2013q4 we estimate the … multiplier effects of shocks to net-revenues, taxes, social security contributions and benefits in a proxy SVAR framework …

Persistent link: https://www.econbiz.de/10011477467

Government spending composition, aggregate demand, growth and distribution

Tavani, Daniele; Zamparelli, Luca - 2015

We study a demand-driven growth and distribution model with a public sector, both without and with government debt. Government spending is used to finance the accumulation of public capital and to pay wages to public employees. The interaction between public capital and induced technical change...

Persistent link: https://www.econbiz.de/10011390426

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