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Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence … potential way to address such imbalances is through a fiscal devaluation. We use a DSGE model calibrated to the euro area to …
Persistent link: https://www.econbiz.de/10010487256
Persistent link: https://www.econbiz.de/10000991686
Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence … potential way to address such imbalances is through a fiscal devaluation. We use a DSGE model calibrated to the euro area to …
Persistent link: https://www.econbiz.de/10010221275
What are the effects of austerity on distributional policy? We exploit the autonomy of Italian municipalities in setting non-linear income taxes and the exogenous introduction of a fiscal rule to show that austerity increases income tax progressivity. Consistent with this evidence, we find that...
Persistent link: https://www.econbiz.de/10012232031