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Modi's "Make in India" industrial reform policy and East Asian flying-geese paradigm

Nam, Chang-woon; Nam, Sumin; Steinhoff, Peter - 2017

The on-going "Make in India" campaign aims at manufacturing revival. Its characteristics resemble East Asian industrial reform and growth policies based on the flying-geese model which highlights "step-by-step" changes in a country's specialisation pattern and global competitiveness accompanied...

Persistent link: https://www.econbiz.de/10011646272

Monetary policy under climate change

Oikonomidēs, Geōrgios; Xepapadeas, Anastasios - 2018

We study monetary policy under climate change in order to answer the question of whether monetary policy should take into account the expected impacts of climate change. The setup is a new Keynesian dynamic stochastic general equilibrium model of a closed economy in which a climate module that...

Persistent link: https://www.econbiz.de/10011845259

The effects of climate change on a small open economy

Oikonomidēs, Geōrgios; Xepapadeas, Anastasios - 2019

We investigate the impact of climate change on the macroeconomic performance of a small open economy. The setup is a new Keynesian dynamic stochastic general equilibrium model of a small open economy without monetary policy independence in which a climate module that interacts with the economy...

Persistent link: https://www.econbiz.de/10011992335

Monetary union, even higher integration, or back to national currencies?

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2016

This paper quantifies the welfare differences among a monetary union, flexible exchange rates (economic disintegration) and a monetary plus fiscal transfer union (higher economic integration). The vehicle of analysis is a medium-scale New Keynesian DSGE model consisting of two heterogeneous...

Persistent link: https://www.econbiz.de/10011430977

The ECB's policy, the recovery fund and the importance of trust : the case of Greece

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2021

This paper, using a microfounded macroeconomic model that embeds the key features of the Greek economy, studies the efficacy of the various policy measures taken, at national and EU level, to cushion the economic effects of the pandemic shock. The paper attempts to give quantitative answers to...

Persistent link: https://www.econbiz.de/10012650611

Macroeconomic policy lessons for Greece from the debt crisis

Oikonomidēs, Geōrgios; Papageorgiou, Dimitris; … - 2020

This paper first searches for the drivers of the Greek depression in the aftermath of the 2007-8 global crisis and in turn looks for engines of sustained growth. We use a micro-founded macroeconomic model calibrated to Greece. Our simulations show that the adopted adjustment program (namely, the...

Persistent link: https://www.econbiz.de/10012195896

Can central banks do the unpleasant job that governments should do?

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2023

We investigate what happens when the fiscal authorities do not react to rising public debt so that the unpleasant task of fiscal sustainability falls upon the Central Bank (CB). In particular, we explore whether the CB's bond purchases in the secondary market can restore stability and...

Persistent link: https://www.econbiz.de/10014331713

Effects of tax depreciation rules on firms' investment decisions in an inflationary phase : comparison of net present values in selected OECD countries

Nam, Chang-woon - 2001

. Therefore, in periods with inflation generous tax depreciation provisions do not adequately promote private investment as … designed, but partly compensate such losses caused by inflation. …

Persistent link: https://www.econbiz.de/10011399561

Does debt maturity matter for investment decisions?

Nam, Chang-woon; Radulescu, Doina - 2004

case of prevailing inflation, there is a mismatch between the nominal interest rate that is a discounting factor for all …

Persistent link: https://www.econbiz.de/10011402695

Effects of bracket creep and tax reform on average personal income tax burden in Germany

Nam, Chang-woon; Zeiner, Christoph - 2015

inflation indexation into its personal income tax system in order to re-duce distortions of tax liabilities and additional tax … extent to which the previous reform efforts, made in this country since 1958, have led to the change of the real, inflation …, when the 'hidden' distortion caused by inflation prevails. According to the long-term real view adopted in this study, the …

Persistent link: https://www.econbiz.de/10011392527