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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
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A decomposition of structural revenue developments for euro area member states
Morris, Richard; Reiss, Lukas - 2020
driving forces of changes in estimated structural government revenue, including the impact of changes to tax legislation …, fiscal drag (caused e.g. by the non-indexation of income tax brackets), the composition of economic growth, and a residual … ratio increased substantially even though the estimated impact of changes to tax legislation was close to zero. In most …
Persistent link: https://www.econbiz.de/10012259400
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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
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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
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Assessing the fiscal-monetary policy mix in the euro area
Bańkowski, Krzysztof; Christoffel, Kai; Faria, Thomas - 2021
This paper attempts to gauge the effects of various fiscal and monetary policy rules on macroeconomic outcomes in the euro area. It consists of two major parts – a historical assessment and an assessment based on an extended scenario until 2030 – and it builds on the ECB-BASE –a...
Persistent link: https://www.econbiz.de/10012705515
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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
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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
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Government deficits, wealth effects and the price level in an optimizing model
Annicchiarico, Barbara - 2003
. Simulation results show that government defcits, high debt level and slow fiscal adjustment adversely affect price stability in …
Persistent link: https://www.econbiz.de/10009635879
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Identifying fiscal shocks and policy regimes in OECD countries
Arcangelis, Giuseppe de; Lamartina, Serena - 2003
The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...
Persistent link: https://www.econbiz.de/10009635887
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Fiscal policy and inflation volatility
Rother, Philipp C. - 2004
. These include higher risk premia, hedging costs and unforeseen redistribution of wealth. This paper presents panel …
Persistent link: https://www.econbiz.de/10009636540