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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

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

The Debt Brake : Business Cycle and Welfare Consequences of Germany's New Fiscal Policy Rule

Mayer, Eric - 2016

In a New Keynesian DSGE model with non-Ricardian consumers, we show that automatic stabilization according to a countercyclical spending rule following the idea of the debt brake is well suited both to steer the economy and in terms of welfare. In particular, the adjustment account set up to...

Persistent link: https://www.econbiz.de/10012991012

Reforming the Labor Market and Improving Competitiveness : An Analysis for Spain Using Fimod

Schwarzmüller, Tim - 2016

-induced) outside option of workers, such as a decrease in unemployment benefits, public wages or, to a lesser extent, public … simulation suggests that reforming employment protection legislation does not seem to be a suitable tool from the perspective of … improving international competitiveness. All measures imply (income) redistribution between optimizing and liquidity …

Persistent link: https://www.econbiz.de/10012991021

The Impact of Fiscal Policy on Economic Activity Over the Business Cycle - Evidence from a Threshold VAR Analysis

Baum, Anja - 2016

Does the state of the business cycle matter for the effects of fiscal policy shocks on GDP? This study analyses quarterly German data from 1976 to 2009 in a threshold SVAR, expanding the SVAR approach by Blanchard and Perotti (2002). In a linear benchmark SVAR, the analysis finds that hiking...

Persistent link: https://www.econbiz.de/10012991046

Toward a Taylor Rule for Fiscal Policy

Kliem, Martin - 2016

) models. We illustrate our approach with fiscal feedback rules for tax instruments in a standard medium-scale DSGE model … modeled fiscal tax policy in two dimensions: (i) with respect to the dynamic responses of fiscal policy to exogenous shocks …

Persistent link: https://www.econbiz.de/10012991055

Government Expenditures and Unemployment : A DSGE Perspective

Mayer, Eric - 2016

In a New Keynesian DSGE model with labor market frictions and liquidity-constrained consumers aggregate unemployment is likely to increase due to a non-persistent government spending shock. Furthermore, the group of asset-holding households reacts very differently from the group of...

Persistent link: https://www.econbiz.de/10012991083

Unemployment Insurance and the Business Cycle : Prolong Benefit Entitlements in Bad Times?

Moyen, Stéphane - 2016

The aim of this paper is to study the optimal duration of unemployment benefit entitlement duration across the business cycle. We wonder if the entitlement duration should be prolonged in bad and shortened in good times. Because of consumption smoothing, such a countercyclical policy can be...

Persistent link: https://www.econbiz.de/10012991106

Does Anticipation of Government Spending Matter? Evidence from an Expectation Augmented VAR

Tenhofen, Jörn - 2016

How does private consumption react to an exogenous increase in government expenditure? Standard structural vector autoregressions (SVARs) usually report a positive GDP as well as consumption response, while event studies report a negative consumption response. We investigate in a SVAR whether...

Persistent link: https://www.econbiz.de/10012991142

Moral Hazard and Bail-Out in Fiscal Federations : Evidence for the German Länder

Heppke-Falk, Kirsten - 2016

We identify investor moral hazard in the German fiscal federation. Our identification strategy is based on a variable, which was used by the German Federal Constitutional Court as an indicator to determine eligibility of two German states (Länder) to a bail-out, the interest payments-to-revenue...

Persistent link: https://www.econbiz.de/10012991148