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Profits, Markups and Entry: Fiscal Policy in an Open Economy

Coto-Martínez, Javier; Dixon, Huw D. - CESifo - 2001

In this paper we develop a general model of an imperfectly competitive small open economy. There is a traded and non-traded sector, whose outputs are combined in order to produce a single final good that can be either consumed or invested. We make general assumptions about preferences and...

Persistent link: https://www.econbiz.de/10005094394

What are the Effects of Tax Changes in the United Kingdom? New Evidence from a Narrative Evaluation

Cloyne, James - CESifo - 2011

This paper estimates the effects of tax changes on the U.K. economy. Identification is achieved by isolating the ‘exogenous’ tax policy shocks in the post-war U.K. economy using a narrative strategy as in Romer and Romer (2010). The resulting tax changes are shown to be unforecastable on the...

Persistent link: https://www.econbiz.de/10009020785

The Impact of Fiscal Rules on Public Finances : Theory and Empirical Evidence for the Euro Area

Marneffe, Wim - 2011

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the...

Persistent link: https://www.econbiz.de/10013131350

Transatlantic Monetary and Fiscal Policy Interaction

Aarle, Bas van; Garretsen, Harry; Huart, Florence - CESifo - 2003

and inflation. …

Persistent link: https://www.econbiz.de/10005765866

The Impact of Fiscal Rules on Public Finances: Theory and Empirical Evidence for the Euro Area

Marneffe, Wim; Aarle, Bas Van; Wielen, Wouter Van Der; … - CESifo - 2010

Persistent link: https://www.econbiz.de/10008833927

Estimating the Effects of Coordinated Fiscal Actions in the Euro Area

Hebous, Shafik - 2012

We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted...

Persistent link: https://www.econbiz.de/10013101197

Cross-Border Effects of Fiscal Consolidations : Estimates Based on Narrative Records

Hebous, Shafik; Zimmermann, Tom - 2021

We estimate cross-border spillover effects of fiscal consolidation episodes on output, bilateral trade flows, interest rate, and the exchange rate, employing the new IMF action-based fiscal consolidation data. Results indicate a negative effect of foreign fiscal consolidation policies on...

Persistent link: https://www.econbiz.de/10013315746

Fiscal Delegation in a Monetary Union with Decentralized Public Spending

Basso, Henrique S. - 2016

taxation but suffers only part of the costs of union-wide inflation and higher interest rates, creating a tendency towards …

Persistent link: https://www.econbiz.de/10012996333

Discretionary Fiscal Policy : Review and Estimates for the EU

Beetsma, Roel M. W. J. - 2013

We briefly review the theoretical and empirical consequences of discretionary fiscal policy changes, after which we provide our own estimates for the EU countries. A fiscal expansion raises output and consumption and reduces the trade balance. Moreover, the stimulating effect of higher...

Persistent link: https://www.econbiz.de/10013095097

The Real Exchange Rate in the Long Run : Balassa-Samuelson Effects Reconsidered

Bordo, Michael D. - 2014

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

Persistent link: https://www.econbiz.de/10013050476

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