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When Credit Dries Up : Job Losses in the Great Recession

Bentolila, Samuel - 2014

We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked …

Persistent link: https://www.econbiz.de/10013060983

Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects : Evidence from German Federal States

Feld, Lars P. - 2018

In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...

Persistent link: https://www.econbiz.de/10012917513

Global Banking, Trade, and the International Transmission of the Great Recession

Born, Alexandra - 2018

The global financial crisis of 2007-2009 spread through different channels from its origin in the United States to large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify their relative importance for this transmission....

Persistent link: https://www.econbiz.de/10012920861

Two-Tier Labor Markets in the Great Recession : France vs. Spain

Bentolila, Samuel; Cahuc, Pierre; Dolado, Juan Jose; Le … - 2021

This paper analyzes the strikingly different response of unemployment to the Great Recession in France and Spain. Their … France, unemployment rate has increased by 2 percentage points, whereas in Spain it has shot up to 19% by the end of 2009. We … contracts and the less restrictive rules regarding the use of the latter contracts in Spain. Using a calibrated search and …

Persistent link: https://www.econbiz.de/10013316123

The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...

Persistent link: https://www.econbiz.de/10013081055

Fiscal Autonomy and Fiscal Sustainability : Subnational Taxation and Public Indebtedness in Contemporary Spain

Larin, Benjamin; Suessmuth, Bernd - 2021

This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous …

Persistent link: https://www.econbiz.de/10013315619

Educational Federalism and the Quality Effects of Tuition Fees

Kemnitz, Alexander - 2010

This paper investigates how the abolishment of a ban on tuition fees affects the quality of higher education with centralized and decentralized decision making. It is shown that a marginal introduction of tuition fees fully crowds out public funds under centralization, whereas educational...

Persistent link: https://www.econbiz.de/10013137444

Decentralization and Foreign Aid Effectiveness : Do Aid Modality and Federal Design Matter in Poverty Alleviation?

Lessmann, Christian - 2014

This paper empirically studies the impact of decentralization on foreign aid effectiveness. For this purpose, we examine a commonly used empirical growth model, considering aid modality as well as different measures of political and fiscal decentralization. Our panel estimations reveal that...

Persistent link: https://www.econbiz.de/10013069925

Federalism and Accountability with Distorted Election Choices

Kessing, Sebastian G. - 2009

Random factors such as bad weather or exogenous economic shocks affect the re-election of politicians and can reduce accountability. Such distorted election choices interact with the architecture of government. Contrasting centralized with decentralized political systems, this study shows that...

Persistent link: https://www.econbiz.de/10013156040

Ex-Post Redistribution in a Federation : Implications for Corrective Policy

Koethenbuerger, Marko - 2006

This paper analyzes whether changes in the timing of equalizing transfers to state governments necessitate an adjustment in federal corrective policy. According to the existing literature (assuming an ex-ante choice of transfers), the corrective grant is equal to the marginal damage/benefit...

Persistent link: https://www.econbiz.de/10012779700

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