consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …

-economy income convergence. Where RCK predicts partial income and consumption convergence between open economies Solow predicts full … convergence. This paper presents, by a small modification of the savings behavior in the Solow model, a framework that matches RCK … country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …

Unconventional fiscal policies incentivize households to accelerate consumption by generating future consumer price … study the causal effect of unconventional fiscal policies on consumption expenditure via the inflation-expectations channel … intratemporal substitution from non-durable to durable consumption. …

, 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 …

periodon private consumption. Thereby, we also take the specific context of thetransition towards EMU explicitly into …