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Heterogeneous Responses and Aggregate Impact of the 2001 Income Tax Rebates
Misra, Kanishka; Surico, Paolo - C.E.P.R. Discussion Papers - 2011
% of households, with higher income or liquid wealth. The estimated heterogeneity implies that the tax rebates added a 3 …
Persistent link: https://www.econbiz.de/10008925717
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Consumption, Income Changes and Heterogeneity: Evidence from Two Fiscal Stimulus Programmes
Misra, Kanishka; Surico, Paolo - C.E.P.R. Discussion Papers - 2013
propensity held high mortgage debt. The heterogeneity is concentrated in a few non-durable categories and a handful of `new …
Persistent link: https://www.econbiz.de/10011083341
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Heterogeneous Consumers and Fiscal Policy Shocks
Anderson, Emily; Inoue, Atsushi; Rossi, Barbara - C.E.P.R. Discussion Papers - 2013
This paper studies stylized empirical facts regarding the effects of unexpected changes in aggregate macroeconomic fiscal policies on consumers that are allowed to differ depending on their individual characteristics. We use data from the Consumption Expenditure Survey (CEX) to estimate...
Persistent link: https://www.econbiz.de/10011083875
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Heterogeneity in Wage Setting Behavior in a New-Keynesian Model
Eijffinger, Sylvester C W; Grajales, Anderson; Uras, … - C.E.P.R. Discussion Papers - 2015
In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent …) framework by incorporating heterogeneity in nominal wage setting behavior among households. We solve this DSGE model and … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …
Persistent link: https://www.econbiz.de/10011249376
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How do different exporters react to exchange rate changes? Theory, empirics and aggregate implications
Berman, Nicolas; Martin, Philippe; Mayer, Thierry - C.E.P.R. Discussion Papers - 2009
strategy. Hence, pricing to market is both endogenous and heterogenous. This heterogeneity has important consequences for the …
Persistent link: https://www.econbiz.de/10008506840
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Exports Versus FDI Revisited: Does Finance Matter?
Buch, Claudia M.; Kesternich, Iris; Lipponer, Alexander; … - C.E.P.R. Discussion Papers - 2010
The crisis on international financial markets that started in 2007 has shown the potential links between the financial sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack of demand, but also because of restricted access of...
Persistent link: https://www.econbiz.de/10008468589
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Financial Constraints and the Margins of FDI
Buch, Claudia M.; Kesternich, Iris; Lipponer, Alexander; … - C.E.P.R. Discussion Papers - 2009
Recent literature on multinational firms has stressed the importance of low productivity as a barrier to the cross-border expansion of firms. But firms may also need external finance to shoulder the costs of entering foreign markets. We develop a model of multinational firms facing real and...
Persistent link: https://www.econbiz.de/10008528519
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Dispersion of Beliefs in the Foreign Exchange Market
Jongen, Ron; Verschoor, Willem F C; Wolff, Christian C; … - C.E.P.R. Discussion Papers - 2008
be significant and positive for different measures of both trader heterogeneity and market volatility. …
Persistent link: https://www.econbiz.de/10005136619
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Technology, Information and the Decentralization of the Firm
Acemoglu, Daron; Aghion, Philippe; Lelarge, Claire; Van … - C.E.P.R. Discussion Papers - 2006
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...
Persistent link: https://www.econbiz.de/10005136707
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Household Heterogeneity and the Real Exchange Rate: Still a Puzzle
Kollmann, Robert - C.E.P.R. Discussion Papers - 2009
persistent. The link between the real exchange rage and consumption (heterogeneity) remains a puzzle. …
Persistent link: https://www.econbiz.de/10005012492