Narrow search
Showing 1 - 10 of 214
Cover Image
How to Escape from the Debt Trap: Lessons from the Past
Mayer, Thomas; Schnabl, Gunther - 2021
precedents and proposals have included austerity, haircuts and the generation of inflation. Each way has advantages and …, hyperinflation in Germany after World War I, inflation in Argentina since the 1980s, currency reform in Germany after WW II, and …
Persistent link: https://www.econbiz.de/10012582141
Cover Image
China's Exchange Rate and Financial Repression: The Conflicted Emergence of the Renminbi as an International Currency
McKinnon, Ronald Ian; Schnabl, Gunther - 2014
repression in domestic interest rates to avoid an avalanche of foreign capital inflows that would threaten inflation and asset …
Persistent link: https://www.econbiz.de/10010333437
Cover Image
The Asymmetric Impact of Economic Policy and Oil Price Uncertainty on Inflation : Evidence from Developed and Emerging Economies
Anderl, Christina; Caporale, Guglielmo Maria - 2023
inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …
Persistent link: https://www.econbiz.de/10014260984
Cover Image
Sustainability of German fiscal policy and public debt: Historical and time series evidence for the period 1850-2010
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2013
In the last decades, the majority of OECD countries has experienced a continuous increase in public debt. The European debt crisis has prompted a fundamental re-evaluation of public debt sustainability and the looming threat of sovereign debt default. Due to a multitude of large scale events in...
Persistent link: https://www.econbiz.de/10010291882
Cover Image
Public Debt, Economic Growth and Nonlinear Effects: Myth or Reality
Egert, Balazs - 2013
This paper puts the Reinhart-Rogoff dataset to a formal econometric testing to see whether public debt has a negative nonlinear effect on growth if public debt exceeds 90% of GDP. Using nonlinear threshold models, we show that the negative nonlinear relationship between debt and growth is very...
Persistent link: https://www.econbiz.de/10010292693
Cover Image
Emotions and Political Unrest
Passarelli, Francesco; Tabellini, Guido - 2013
This paper formulates a general theory of how political unrest influences public policy. Political unrest is motivated by emotions. Individuals engage in protests if they are aggrieved and feel that they have been treated unfairly. This reaction is predictable because individuals have a...
Persistent link: https://www.econbiz.de/10010292704
Cover Image
Intergenerational Risk-Sharing through Funded Pensions and Public Debt
Chen, Damiaan H.J.; Beetsma, Roel; Ponds, Eduard; Romp, … - 2014
We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government. Shocks are smoothed via the public debt and variations...
Persistent link: https://www.econbiz.de/10010333438
Cover Image
Fiscal Transfers and Fiscal Sustainability
Potrafke, Niklas; Reischmann, Markus - 2014
We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...
Persistent link: https://www.econbiz.de/10010352356
Cover Image
Political Competition and the Limits of Political Compromise
Cunha, Alexandre B.; Ornelas, Emanuel - 2014
We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents have an incentive to set public expenditures above the socially optimum level. Parties cannot commit to future policies, but they can forge a political compromise where each...
Persistent link: https://www.econbiz.de/10010352418
Cover Image
Fiscal Autonomy and Fiscal Sustainability: Subnational Taxation and Public Indebtedness in Contemporary Spain
Larin, Benjamin; Süssmuth, Bernd - 2014
This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less legislatively recognized autonomy. Three of the 17...
Persistent link: https://www.econbiz.de/10010352444