Narrow search
Showing 1 - 10 of 142
Cover Image
Macroeconomic effects of carbon transition policies : an assessment based on the ECB's New Area-Wide Model with a disaggregated energy sector
Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023
We use scenario analysis to assess the macroeconomic effects of carbon transition policies aimed at mitigating climate change. To this end, we employ a version of the ECB's New Area-Wide Model (NAWM) augmented with a framework of disaggregated energy production and use, which distinguishes...
Persistent link: https://www.econbiz.de/10014315252
Cover Image
The impact of extreme weather events on budget balances and implications for fiscal policy
Lis, Eliza M.; Nickel, Christiane - 2009
This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
Persistent link: https://www.econbiz.de/10003866542
Cover Image
Economic growth and budgetary components : a panel assessment for the EU
Afonso, António (contributor);  … - 2008
In this paper we test whether a reallocation of government budget items can enhance long-term GDP growth in a set of European countries. We apply modern panel data techniques to the period 1970-2006, and we use three alternative dependent variables in a growth regression: economic growth, total...
Persistent link: https://www.econbiz.de/10003636014
Cover Image
Government size, composition, volatility and economic growth
Afonso, António (contributor); Furceri, Davide (contributor) - 2008
and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking …
Persistent link: https://www.econbiz.de/10003636033
Cover Image
Fiscal consolidation in the euro area : long-run benefits and short-run costs
Coenen, Günter (contributor); Mohr, Matthias (contributor);  … - 2008
In this paper, we examine the macroeconomic effects of alternative fiscal consolidation policies in the New Area-Wide Model (NAWM), a two-country open-economy model of the euro area developed at the European Central Bank (cf. Coenen et al., 2007). We model fiscal consolidation as a permanent...
Persistent link: https://www.econbiz.de/10003778833
Cover Image
Fiscal and monetary policy in the enlarged European Union (forthcoming)
Pogorelec, Sabina (contributor) - 2006
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …
Persistent link: https://www.econbiz.de/10003358603
Cover Image
Fiscal policy in a monetary economy with capital and finite lifetime
Annicchiarico, Barbara (contributor);  … - 2006
This paper develops a dynamic stochastic general equilibrium model with nominal rigidities, capital accumulation and finite lifetimes. The framework exhibits intergenerational wealth effects and is intended to investigate the macroeconomic implications of fiscal policy, which is specified by...
Persistent link: https://www.econbiz.de/10003358633
Cover Image
The role of fiscal transfers for regional economic convergence in Europe
Checherita-Westphal, Cristina; Nickel, Christiane; … - 2009
This paper provides evidence on the role of net fiscal transfers to households and EU structural funds for per … growth rates in poor receiving regions decline by less than in rich paying regions. EU structural and cohesion funds spent …
Persistent link: https://www.econbiz.de/10003832335
Cover Image
Assessing long-term fiscal developments : a new approach
Afonso, António; Agnello, Luca; Furceri, Davide - 2009
We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate...
Persistent link: https://www.econbiz.de/10003832368
Cover Image
Should quarterly government finance statistics be used for fiscal surveillane in Europe?
Pedregal, Diego J. (contributor);  … - 2008
We use a newly available dataset of euro area quarterly national accounts fiscal data and construct multivariate, state-space mixed-frequencies models for the government deficit, revenue and expenditure in order to assess its information content and its potential use for fiscal forecasting and...
Persistent link: https://www.econbiz.de/10003790942