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Automatic Stabilizers and Economic Crisis : US vs. Europe
Dolls, Mathias - 2010
This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...
Persistent link: https://www.econbiz.de/10012462382
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Hysteresis and business cycles
Cerra, Valerie; Fatás, Antonio; Saxena, Sweta Chaman - 2020
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...
Persistent link: https://www.econbiz.de/10012251398
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How Successful Was the New Deal? The Microeconomic Impact of New Deal Spending and Lending Policies in the 1930s
Fishback, Price V. - 2016
The New Deal during the 1930s was arguably the largest peace-time expansion in federal government activity in American history. Until recently there had been very little quantitative testing of the microeconomic impact of the wide variety of New Deal programs. Over the past decade scholars have...
Persistent link: https://www.econbiz.de/10012456747
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Die US-Wirtschaft vor der Rezession - was sollte Europa tun?
Rees, Andreas; Hüfner, Martin - In: ifo Schnelldienst 61 (2008) 07, pp. 3-9
für die europäische Wirtschaft und welche Gegenmaßnahmen sollten in Europa eingeleitet werden? Andreas Rees, UniCredit … Wochen Realität sein." Ein "Laissez-faire" der Wirtschaftspolitik sei daher nicht angebracht. Statt die Hände in den Schoss … wieder zu seiner alten Dynamik zurückfinden. Das Gleiche gelte für die Konsumenten. Für Europa sieht Hüfner allerdings nur …
Persistent link: https://www.econbiz.de/10011692762
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Lässt sich das erneute Abgleiten in eine Wirtschafts- und Finanzkrise abwenden?
Watzka, Sebastian; Thießen, Friedrich - In: ifo Schnelldienst 64 (2011) 21, pp. 3-10
Die neuesten Wirtschaftsdaten und -prognosen deuten auf eine Rückkehr der Rezession hin. Lässt sich das erneute Abgleiten in eine Wirtschafts- und Finanzkrise vermeiden? Sebastian Watzka, Ludwig-Maximilians-Universität München, sieht Möglichkeiten, durch energisches und glaubhaftes Handeln...
Persistent link: https://www.econbiz.de/10011693259
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Wie wehrte Deutschland die Finanz- und Wirtschaftskrise ab? Oder: Das Erfordernis übergreifender Erklärungsansätze
Zimmermann, Horst - In: ifo Schnelldienst 66 (2013) 24, pp. 15-18
Warum wurde die Finanz- und Wirtschaftskrise 2008/2010 in Deutschland so schnell überwunden? Sicher ist, dass die …
Persistent link: https://www.econbiz.de/10011693582
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The Political Economy of the COVID-19 Fiscal Stimulus Packages of 2020
Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - National Bureau of Economic Research - 2021
Almost all countries announced fiscal support programs once COVID-19 hit. However, there was significant diversity in the magnitude and composition of these fiscal stimulus programs. These differences were determined by myriad political, financial, social, and economic factors - these factors...
Persistent link: https://www.econbiz.de/10012660038
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Norwegian and US Policies Alleviate Business Vulnerability Due to the Covid-19 Shock Equally Well
Alstadsæter, Annette - 2020
We use Norwegian administrative data and applications for emergency government support to simulate magnitude and distribution of business revenue shock due to the Covid-19 pandemic. We rely on it to analyze the impact of business support policies available in Norway and the United States by...
Persistent link: https://www.econbiz.de/10012481185
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The Ends of 30 Big Depressions
Ellison, Martin - 2020
How did countries recover from the Great Depression? In this paper we explore the argument that leaving the gold standard helped by boosting inflationary expectations and lowering real interest rates. We do so for a sample of 30 countries, using modern nowcasting methods and a new dataset...
Persistent link: https://www.econbiz.de/10012481440
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Did the Paycheck Protection Program Hit the Target?
Granja, João - 2020
This paper provides a comprehensive assessment of financial intermediation and the economic effects of the Paycheck Protection Program (PPP), a large and novel small business support program that was part of the initial policy response to the COVID-19 pandemic in the US. We use loan-level...
Persistent link: https://www.econbiz.de/10012481679