Similar Search Results

Excess Savings and Twin Deficits : The Transmission of Fiscal Stimulus in Open Economies

Aggarwal, Rishabh; Auclert, Adrien; Rognlie, Matthew; … - National Bureau of Economic Research - 2022

We study the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world economy. In the long run, increases in government debt anywhere raise the world interest rate and increase private wealth everywhere. In the short run, a country with a...

Persistent link: https://www.econbiz.de/10013334403

Fiscal policies, the current account and Ricardian equivalence

Nickel, Christiane (contributor); … - 2008

This paper analyses the empirical relationship between fiscal policy and the current account of the balance of payments and considers how Ricardian equivalence changes this relationship. To do so, we estimate a dynamic panel threshold model for 22 industrialised countries in which the...

Persistent link: https://www.econbiz.de/10003790939

The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey

Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

Persistent link: https://www.econbiz.de/10012643267

Tracking growth in the euro area subject to a dimensionality problem

Comunale, Mariarosaria; Mongelli, Francesco Paolo - 2021

We investigate which variables have supported growth in the euro area over the last 30 years. This is a challenging task due to dimensionality problems: a large set of potential determinants, limited data, and the prospect that some variables could be non-stationary. We assemble a set of 35...

Persistent link: https://www.econbiz.de/10012625874

Cyclical drivers of euro area consumption : what can we learn from durable goods?

Casalis, André; Krustev, Georgi - 2020

We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …

Persistent link: https://www.econbiz.de/10012197836

Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers

Leith, Campbell B. (contributor); … - 2006

This paper develops a small New Keynesian model with capital accumulation and government debt dynamics. The paper discusses the design of simple monetary and fiscal policy rules consistent with determinate equilibrium dynamics in the absence of Ricardian equivalence. Under this assumption,...

Persistent link: https://www.econbiz.de/10003337474

Debt, policy uncertainty and expectations stabilization

Eusepi, Stefano; Preston, Bruce - 2010

Persistent link: https://www.econbiz.de/10008697796

The asymmetric adjustment of global imbalances : myth or fact?

Dausà, Neus; Stracca, Livio - 2023

We revisit the so-called "secular international problem", whereby the adjustment of current account imbalances purportedly falls entirely on the shoulders of deficit countries. We introduce a stylised model to rationalise an asymmetric counter-cyclical policy reaction that is stronger for...

Persistent link: https://www.econbiz.de/10013552616

Fiscal policy and growth : do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Persistent link: https://www.econbiz.de/10003983667

Household spending and fiscal support during theCOVID-19 pandemic : insights from a new consumer survey

Georgarakos, Dimitris; Kenny, Geoff - 2022

This paper introduces the Consumer Expectations Survey (CES), a new online, high frequency panel survey of euro area consumers' expectations and behaviour. The paper also investigates whether public perceptions about fiscal support measures introduced during the pandemic have influenced spending...

Persistent link: https://www.econbiz.de/10012818792

1
2
3
4
5
6
7
8
9
10
Next
Last