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Fiscal regimes and the (non)stationarity of debt
Hollmayr, Josef - 2018
This paper analyzes the sustainability of fiscal debt contingent on fiscal policy operating in two fiscal regimes. The first regime is characterized by active policy (not reacting to debt) and the other by passive fiscal policy (reacting to debt). The average duration for which either regime can...
Persistent link: https://www.econbiz.de/10011846884
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Zero-risk weights and capital misallocation
Fueki, Takuji; Hürtgen, Patrick; Walker, Todd B. - 2024
Financial institutions, especially in Europe, hold a disproportionate amount of domestic sovereign debt. We examine the extent to which this home bias leads to capital misallocation in a real business cycle model with imperfect information and fiscal stress. We assume banks can hold sovereign...
Persistent link: https://www.econbiz.de/10014558911
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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
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Consumption taxation to finance pension payments
Ruppert, Kilian; Schön, Matthias; Stähler, Nikolai - 2021
,which stands in contrast to what is commonly found in models without an endoge-nous savings motive. …
Persistent link: https://www.econbiz.de/10012792525
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Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Haan, Peter; Prowse, Victoria - 2015
and savings decisions of singles and married couples. Partial insurance against wage and employment shocks is provided by … social programs, savings and the labor supplies of all adult household members. The optimal policy mix focuses mainly on …
Persistent link: https://www.econbiz.de/10010530687
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Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Haan, Peter; Prowse, Victoria - 2019
. To do so, we specify a structural life-cycle model of the labor supply, savings, and social assistance claiming decisions …, savings, and the labor supplies of all adult household members. We show that the optimal policy mix is dominated by moderately …
Persistent link: https://www.econbiz.de/10012108668
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The heterogeneous effects of social assistance and unemployment insurance : evidence from a life-cycle model of family labor supply and savings
Haan, Peter; Prowse, Victoria - 2023
structural life-cycle model of singles' and married couples' labor supply and savings decisions. The model includes heterogeneity …
Persistent link: https://www.econbiz.de/10014286635
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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 … could not absorb these additional sav-ings, they were partly invested abroad. The German current account-to-GDP ratiorose …. After 2010, private savings remained rather stable, but opportunities to investin Germany declined further. Our simulations …
Persistent link: https://www.econbiz.de/10012256500
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Fiscal policy coordination in the EMU: A problem with asymmetry and aggregation
Viren, Matti - 2011
This paper deals with fiscal policy coordination within the European Monetary Union. In the first place, it investigates the potential problems which are caused by cross-country differences in key fiscal parameters and the asymmetric nature of these parameters. In the second section, the pros...
Persistent link: https://www.econbiz.de/10012503024
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Problems of fiscal consolidation and policy coordination
Viren, Matti - 2012
This paper deals with problems of fiscal consolidation and policy coordination within the European Monetary Union. In the first place, it investigates the potential problems which are caused by cross-country differences in key fiscal parameters and the asymmetric nature of these parameters. In...
Persistent link: https://www.econbiz.de/10012503036