Similar Search Results

Ideologically-charged terminology : austerity, fiscal consolidation, and sustainable governance

Gründler, Klaus; Potrafke, Niklas - 2019

Scholars have been active in investigating causes and consequences of austerity policies. We examine how economists use the term "austerity" in scientific studies and measure austerity in empirical analyses. The sample includes around 3,500 journal articles published in the top 400 journals...

Persistent link: https://www.econbiz.de/10011997341

Fiscal and monetary policy interactions : empirical evidence and optimal policy using a structural New Keynesian model

Muscatelli, V. Anton; Tirelli, Patrizio; Trecroci, Carmine - 2003

This paper examines the interaction of monetary and fiscal policies using an estimated New Keynesian dynamic general equilibrium model for the US. In contrast to earlier work using VAR models, we show that the strategic complementarity or substitutability of fiscal and monetary policy depends...

Persistent link: https://www.econbiz.de/10011511042

Structural reforms and income inequality : who benefits from market-oriented reforms?

Gründler, Klaus; Potrafke, Niklas; Wochner, Timo - 2020

We examine how structural reforms relate to income inequality. We employ many indicators of structural reforms and use data for market and net income inequality. The dataset includes up to 135 countries since 1960. The results do not suggest that market-oriented structural reforms were...

Persistent link: https://www.econbiz.de/10012154916

Experts and epidemics

Gründler, Klaus; Potrafke, Niklas - 2020

Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and temporal variation in the initial spread of Covid-19...

Persistent link: https://www.econbiz.de/10012287982

A simple and flexible alternative to the stability and growth pact deficit ceilings : is it at hand?

Muscatelli, V. Anton; Natale, Piergiovanna; Tirelli, … - 2003

There have been widespread criticisms of EMU fiscal institutions. We consider a simple alternative to the deficit … rule. This ensures fiscal discipline and leaves room for stabilisation policies. For the rule to be credible, only small … changes are required to current EMU institutions. Our scheme performs well in comparison with existing reform proposals and is …

Persistent link: https://www.econbiz.de/10011509363

Fiscal rules : historical, modern, and sub-national growth effects

Gründler, Klaus; Potrafke, Niklas - 2020

We examine how fiscal rules influence economic growth. The results show that constitutional fiscal rules promoted growth from the Industrial Revolution until World War II (1789-1950) and also increased modern economic growth (1985-2015). To address selection on unobservables, we conduct a...

Persistent link: https://www.econbiz.de/10012219378

Can fiscal policy help macroeconomic stabilisation? : evidence from a New Keynesian model with liquidity constraints

Muscatelli, V. Anton; Tirelli, Patrizio; Trecroci, Carmine - 2004

This paper derives a New Keynesian dynamic general equilibrium model with liquidity- constrained consumers and sticky prices. The model allows a role for both government spending and taxation in the DGE model. The model is then estimated using US data. We demonstrate that there seems to be a...

Persistent link: https://www.econbiz.de/10011402458

The role of fiscal policy in a monetary union : are national automatic stabilizers effective?

Colciago, Andrea; Muscatelli, V. Anton; Ropele, Tiziano; … - 2006

We assess the role of national fiscal policies, as automatic stabilizers, within a monetary union. We use a two-country New Keynesian DGE model which incorporates non-Ricardian consumers (as in Galì et al. 2004) and a home bias in the composition of national consumption bundles. We find that...

Persistent link: https://www.econbiz.de/10003301196

Monetary and fiscal policy interactions over the cycle : some empirical evidence

Muscatelli, V. Anton; Tirelli, Patrizio; Trecroci, Carmine - 2002

This paper estimates VAR models to examine the response of monetary and fiscal policy to macroeconomic targets, and the interdependence between the two policy instruments. The models are estimated for a number of G7 countries. Our findings show that, whilst monetary and fiscal policy are...

Persistent link: https://www.econbiz.de/10011514047