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The Macroeconomic Effects of Funding U.S. Infrastructure

Malley, James R.; Philippopoulos, Apostolis - 2022

This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure … types of infrastructure spending and linkages between the final and intermediate goods sectors. We find that infrastructure … multipliers above unity if infrastructure spending and rising public debt are financed by consumption, dividend and labour income …

Persistent link: https://www.econbiz.de/10013307758

The Importance of Being Vigilant : Has ECB Communication Influenced Euro Area Inflation Expectations?

Jansen, David-Jan; de Haan, Jakob - 2021

Using daily data on inflation-indexed bonds, we find evidence of a negative relationship between ECB communication regarding risks to price stability - measured on the basis of the frequency and strength of the keyword 'vigilance' - and changes in euro area break-even inflation. However, this...

Persistent link: https://www.econbiz.de/10013316794

The ECB's Policy, the Recovery Fund and the Importance of Trust : The Case of Greece

Dimakopoulou, Vasiliki; Economides, George; … - 2021

This paper, using a microfounded macroeconomic model that embeds the key features of the Greek economy, studies the efficacy of the various policy measures taken, at national and EU level, to cushion the economic effects of the pandemic shock. The paper attempts to give quantitative answers to...

Persistent link: https://www.econbiz.de/10013323086

The importance of being vigilant: has ECB communication influenced Euro area inflation expectations?

Jansen, David-Jan; de Haan, Jakob - 2007

Using daily data on inflation-indexed bonds, we find evidence of a negative relationship between ECB communication regarding risks to price stability - measured on the basis of the frequency and strength of the keyword vigilance' - and changes in euro area break-even inflation. However, this...

Persistent link: https://www.econbiz.de/10010274042

Look who's talking : ECB communication during the first years of EMU

Jansen, David-Jan; de Haan, Jakob - 2004

This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...

Persistent link: https://www.econbiz.de/10010261249

Rent-seeking competition from State coffers : a calibrated DSGE model of the Euro area

Angelopoulos, Konstantinos; Philippopoulos, Apostolis; … - 2006

This paper incorporates an uncoordinated struggle for extra fiscal favors into an otherwise standard Dynamic Stochastic General Equilibrium model. This reflects the popular belief that interest groups compete for privileged transfers and tax treatment at the expense of the general public...

Persistent link: https://www.econbiz.de/10010261402