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German and the rest of euro area fiscal policy during the crisis

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the … present-value multipliers for distinct fiscal instruments, and to assess how discretionary fiscal policy in Germany and the …-on-quarter GDP growth substantially, both in Germany and in the rest of the Euro Area. The main drivers of GDP growth in Europe …

Persistent link: https://www.econbiz.de/10010516561

German labor market and fiscal reforms 1999 to 2008 : can they be blamed for intra-euro area imbalances?

Gadatsch, Niklas; Stähler, Nikolai; Weigert, Benjamin - 2015

. Further simulations highlight the importance of increased savings preferences in Germany to explain the latter. …

Persistent link: https://www.econbiz.de/10011316580

Gauging the effects of the German COVID-19 fiscal stimulus package

Hinterlang, Natascha; Moyen, Stéphane; Röhe, Oke; … - 2021

We simulate the fiscal stimulus packages set up by the German government to allevi-ate the costs of the COVID-19 pandemic in a dynamic New Keynesian multi-sectorgeneral equilibrium model. We find that, cumulated over 2020-2022, output lossesrelative to steady state can be reduced by more than 4...

Persistent link: https://www.econbiz.de/10012671256

Household savings, capital investments and public policies : what drives the German current account?

Ruppert, Kilian; Stähler, Nikolai - 2020

pensionreforms led to an increase in the household savings rate in Germany until about2010. As domestic investment opportunities …. After 2010, private savings remained rather stable, but opportunities to investin Germany declined further. Our simulations …

Persistent link: https://www.econbiz.de/10012256500

A model-based analysis of the macroeconomic impact of the refugee migration to Germany

Stähler, Nikolai - 2017

explores the potential economic consequences and transmission mechanisms resulting from the recent refugee migration to Germany …

Persistent link: https://www.econbiz.de/10011632192

When old meets young? : Germany's population ageing and the current account

Schön, Matthias; Stähler, Nikolai - 2019

In a three-region New Keynesian life-cycle model calibrated to Germany, the Euro area (without Germany) and the rest of … unsynchronized demographic trends by taking those of Germany as given and assuming constant population everywhere else, we are able …

Persistent link: https://www.econbiz.de/10012101176

Optimal unemployment insurance and international risk sharing

Moyen, Stéphane; Stähler, Nikolai; Winkler, Fabian - 2016

We discuss how cross-country unemployment insurance can be used to improve international risk sharing. We use a two-country business cycle model with incomplete financial markets and frictional labor markets where the unemployment insurance scheme operates across both countries. Cross-country...

Persistent link: https://www.econbiz.de/10011532638

Thoughts on a fiscal union in EMU

Gadatsch, Niklas; Hollmayr, Josef; Stähler, Nikolai - 2016

Using an estimated large-scale New-Keynesian model, we assess welfare and business cycle consequences of a fiscal union within EMU. We differentiate between three different scenarios: public revenue equalisation, tax harmonisation and a centralised fiscal authority. Relative to the status quo,...

Persistent link: https://www.econbiz.de/10011546743

A one-off wealth levy? : assessing the pros, the cons and the importance of credibility

Kempkes, Gerhard; Stähler, Nikolai - 2014

From an economic perspective, imposing a credible one-off net wealth levy in crisis times as a tool to ward off a national emergency appears to be advantageous as, in an ideal world, this would not distort market players’ allocation decisions. However, in practice, charging such a levy may...

Persistent link: https://www.econbiz.de/10010433439

Consumption taxation to finance pension payments

Ruppert, Kilian; Schön, Matthias; Stähler, Nikolai - 2021

This paper assesses how a permanent shift from financing a public pay-as-you-go pension by direct (labour income) taxation towards financing it by indirect(consumption) taxation affects the economy and welfare. To this end, we use anoverlapping-generations-augmented two-region general...

Persistent link: https://www.econbiz.de/10012792525