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A tale of government spending efficiency and trust in the state

Afonso, António; Jalles, João Tovar; Venâncio, Ana - 2022

This paper empirically links the efficiency and performance assessment of the general government, proxied by efficiency scores, to the trust in government. Government spending efficiency scores are first computed via data envelopment analysis (DEA). Then, relying on panel data and instrumental...

Persistent link: https://www.econbiz.de/10013445458

Government spending and tax revenue decentralization and public sector efficiency : do natural disasters matter?

Afonso, António; Jalles, João Tovar; Venâncio, Ana - 2023

We assess notably how do extreme events affect the public sector efficiency of decentralized governance. Hence, we empirically link the public sector efficiency scores, to tax revenue and spending decentralization. First, we compute government spending efficiency scores via data envelopment...

Persistent link: https://www.econbiz.de/10014280082

The liquidity channel of fiscal policy

Bayer, Christian; Born, Benjamin; Luetticke, Ralph - 2020

We provide evidence that expansionary fiscal policy lowers the return difference between more and less liquid assets—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice, in which public...

Persistent link: https://www.econbiz.de/10012231567

Shocks, frictions, and inequality in US business cycles

Bayer, Christian; Born, Benjamin; Luetticke, Ralph - 2020

How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we … income risk and taxes. We find that adding data on inequality does not materially change the estimated shocks and frictions … income inequality. The systematic components of monetary and fiscal policy are important for inequality as well. …

Persistent link: https://www.econbiz.de/10012162730