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Optimal Economic Growth Using Fiscal and Monetary Policies
Bougrine, Hassan; Rakkolainen, Teppo A. - 2009
The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...
Persistent link: https://www.econbiz.de/10012503004
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Fiscal deficits, financial fragility, and the effectiveness of government policies
Kirchner, Markus; Wijnbergen, Sweder van - 2012
Recent macro developments in the euro area have highlighted the interactions between fiscal policy, sovereign debt, and … different ways of financing those policies. -- Financial intermediation ; fiscal policy ; sovereign debt …
Persistent link: https://www.econbiz.de/10009625616
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Large-scale desalination and the external impact on irrigation-water salinity : economic analysis for the case of Israel
Slater, Yehuda; Finkelshtain, Israel; Reznik, Ami; Kan, Iddo - 2020
Persistent link: https://www.econbiz.de/10014296995
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Budget-neutral labour tax wedge reductions : a simulation-based analysis for selected euro area countries
Attinasi, Maria-Grazia; Prammer, Doris; Stähler, Nikolai; … - 2016
Budget-neutral tax wedge reductions rank high in the policy agenda of several EMU member states. Using a New Keynesian … by a reduction in government spending is more beneficial in terms of welfare as the latter does not imply a policy … margin in response to policy changes, a reduction in the workers' and not the firms' burden is most beneficial. …
Persistent link: https://www.econbiz.de/10011518187
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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
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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
In this paper, we assess the impact of major German structural reforms from 1999 to 2008 on key macroeconomic variables. By many, these reforms, especially the Hartz reforms on the labor market, are considered to be the root of observed imbalances in the Euro Area. Our simulations within a...
Persistent link: https://www.econbiz.de/10011316580
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Assessing macro-financial linkages : a model comparison exercise
Gerke, Rafael; Jonsson, Magnus; Kliem, Martin; Kolasa, … - 2012
The recent global financial crisis has increased interest in macroeconomic models that incorporate financial linkages. Here, we compare the simulation properties of five mediumsized general equilibrium models used in Eurosystem central banks which incorporate such linkages. The financial...
Persistent link: https://www.econbiz.de/10009509093
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The macroeconomic effects of progressive taxes and welfare
Engler, Philipp; Strehl, Wolfgang - 2016
We analyze the positive and normative effects of a progressive tax on wages in a nonlinear New Keynesian DSGE model in the presence of demand and technology shocks. The non-linearity allows us to disentangle the effects of the progressive tax on the volatility and the level of macroeconomic...
Persistent link: https://www.econbiz.de/10011566088
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The power of forward guidance in a quantitative TANK model
Gerke, Rafael; Giesen, Sebastian; Scheer, Alexander - 2020
We quantify the macroeconomic effects of interest rate forward guidance in an estimated medium-scale two-agent New Keynesian (TANK) model. In general, such models can dampen or amplify the power of forward guidance compared to a representative agent model. Our empirical estimates indicate a...
Persistent link: https://www.econbiz.de/10012170548
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Revisiting the progressive consumption tax : a business cycle perspective
Strehl, Wolfgang - 2019
. The PET has a long intellectual tradition in economics, and the merits and demerits of this alternative to the personal …
Persistent link: https://www.econbiz.de/10012060899