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Counterfactual analysis in macroeconometrics : an empirical investigation into the effects of quantitative easing

Pesaran, M. Hashem; Smith, Ron - 2012

This paper is concerned with ex ante and ex post counterfactual analyses in the case of macroeconometric applications where a single unit is observed before and after a given policy intervention. It distinguishes between cases where the policy change affects the model's parameters and where it...

Persistent link: https://www.econbiz.de/10009548055

R&D decisions and productivity growth : evidence from Switzerland and the Netherlands

Dobbelaere, Sabien; König, Michael D.; Spescha, Andrin; … - 2024

The fraction of R&D active firms decreased in Switzerland but increased in the Netherlands from 2000-2016. This paper …-productivity firms in Switzerland. Innovation support sustains firms' R&D activities in both countries. Our structural growth model … identifies the impact of innovation, imitation and R&D costs on firms' R&D decisions. R&D costs gained importance in Switzerland …

Persistent link: https://www.econbiz.de/10014535654

Managing Households' Expectations with Salient Economic Policies

D'Acunto, Francesco - 2019

The empirical effectiveness of economic policies that operate theoretically through similar channels differs substantially. We document this fact by comparing an easy-to-grasp expectations-based policy, unconventional fiscal policy, with a policy whose implications are harder to understand by...

Persistent link: https://www.econbiz.de/10012861381

Strategic interactions between fiscal and monetary authorities in a multi-country new-Keynesian model of a monetary union

Michalak, Tomasz; Engwerda, Jacob; Plasmans, Joseph - 2009

In this paper we consider a number of key issues related to the policy coordination in a monetary union that has been recently discussed in the literature. To this end we propose a multi-country New-Keynesian model of a monetary union cast in the framework of linear quadratic differential games....

Persistent link: https://www.econbiz.de/10010264547

Macroeconomic stabilization policies in the EMU : spillovers, asymmetries, and institutions

Di Bartolomeo, Giovanni; Engwerda, Jacob; Plasmans, Joseph - 2005

This paper studies the institutional design of the coordination of macroeconomic stabilization policies within a monetary union in the framework of linear quadratic differential games. A central role in the analysis plays the partitioned game approach of the endogenous coalition formation...

Persistent link: https://www.econbiz.de/10010261121

Are fiscal adjustments less successful in decentralized governments?

Schaltegger, Christoph A.; Feld, Lars P. - 2007

A common political claim is that decentralized governments undermine policy makers' ability to fight fiscal imbalance. This paper examines how different fiscal institutions influence the likelihood of a successful fiscal adjustment. Using a panel of the Swiss cantons from 1981 to 2001, we first...

Persistent link: https://www.econbiz.de/10010264091

Do large cabinets favor large governments? : evidence from Swiss sub-federal jurisdictions

Feld, Lars P.; Schaltegger, Christoph A. - 2004

The fiscal commons problem is one of the most prominent explanations of excessive spending and indebtedness in political economics. The more fragmented a government, the higher its spending, deficits and debt. In this paper we investigate to what extent this problem can be mitigated by different...

Persistent link: https://www.econbiz.de/10010261274

The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy

Hülsewig, Oliver - 2020

We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...

Persistent link: https://www.econbiz.de/10012843420

Macroeconometric evaluation of active labour market policies in Germany : a dynamic panel approach using regional data

Hujer, Reinhard; Blien, Uwe; Caliendo, Marco; Zeiss, … - 2002

Most evaluation studies of active labour market policies (ALMP) focus on the microeconometric evaluation approach using individual data. However, as the microeconometric approach usually ignores impacts on the non-participants, it should be seen as a first step to a complete evaluation which has...

Persistent link: https://www.econbiz.de/10011414213

Macroeconomic impacts of ALMP on the matching process in West Germany

Hujer, Reinhard (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001808448

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