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Fiscal Policies, the Current Account and Ricardian Equivalence
Nickel, Christiane - 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/10012770620
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Monetary and Fiscal Policy Interactions in a New Keynesian Model with Capital Accumulation and Non-Ricardian Consumers
Leith, Campbell; von Thadden, Leopold - 2021
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/10013317567
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What accounts for the changes in U.S. fiscal policy transmission?
Bilbiie, Florin O.; Meier, André; Müller, Gernot J. - 2006
have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation …
Persistent link: https://www.econbiz.de/10011604628
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What Accounts for the Changes in U.S. Fiscal Policy Transmission?
Bilbiie, Florin Ovidiu; Meier, André; Müller, Gernot J. - 2021
have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation …
Persistent link: https://www.econbiz.de/10013318046
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Trade openness reduces growth volatility when countries are well diversified
Haddad, Mona; Lim, Jamus Jerome; Pancaro, Cosimo; … - 2012
This paper addresses the mechanisms by which trade openness affects growth volatility. Using a diverse set of export concentration measures, we present strong evidence pointing to an important role for export diversification in conditioning the effect of trade openness on growth volatility....
Persistent link: https://www.econbiz.de/10011605536
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Trade Openness Reduces Growth Volatility when Countries are well Diversified
Haddad, Mona - 2012
This paper addresses the mechanisms by which trade openness affects growth volatility. Using a diverse set of export concentration measures, we present strong evidence pointing to an important role for export diversification in conditioning the effect of trade openness on growth volatility....
Persistent link: https://www.econbiz.de/10013098217
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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/10011605263
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Harnessing Windfall Revenues : Optimal Policies for Resource-Rich Developing Economies
van der Ploeg, Rick - 2009
, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We … show that the permanent income hypothesis prescription of an ever-lasting increase in consumption financed by borrowing … is large relative to initial foreign debt, is it optimal to build a SWF. The optimal time profile of consumption is …
Persistent link: https://www.econbiz.de/10012764524
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Fiscal Policy and Dutch Disease
van der Ploeg, Rick - 2021
In this paper we revisit the Dutch disease paying particular attention to the role of specific factors of production and capital stock dynamics. The main insight is that if the natural resource rich windfall is substantial but not large enough for the country to become a rentier, capital goods...
Persistent link: https://www.econbiz.de/10013316031
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Fiscal Policy and Growth : Do Financial Crises Make a Difference?
Afonso, António; Gruener, Hans Peter; Kolerus, … - 2021
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/10013316206