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Fiscal multipliers over the business cycle
Michaillat, Pascal - 2012
Persistent link: https://www.econbiz.de/10009426268
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EU regional policy : its theoretical foundations and their policy conclusions revisited
Schmidt, Peter - 2014 - Draft
This paper reconsiders the theoretical foundations of EU regional policy in economics. It begins with a discussion of the line of thought of its prevalent explanation in equilibrium economics which is focusing on market failures as its key underpinning and which is the major toolkit of...
Persistent link: https://www.econbiz.de/10011487099
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Expectations formation, sticky prices, and the ZLB
Bersson, Betsy; Hürtgen, Patrick; Paustian, Matthias - 2019
At the zero lower bound (ZLB), expectations about the future path of monetary or fiscal policy are crucial. We model expectations formation under level-k thinking, a form of bounded rationality introduced by García-Schmidt and Woodford (2019) and Farhi and Werning (2017), consistent with...
Persistent link: https://www.econbiz.de/10012101259
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Job creation in tight and slack labor markets
Buchheim, Lukas; Watzinger, Martin; Wilhelm, Matthias - 2019
Do investment programs create more jobs in tight or in slack labor markets? We study this question using data from a large, long-term photovoltaic invest scheme in Germany. Comparing counties with high and low unemployment both over time and across space, we find that photovoltaic installations...
Persistent link: https://www.econbiz.de/10012033285
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The multiplier effect in two-sided markets with bilateral investments
Dizdar, Deniz; Moldovanu, Benny; Szech, Nora - 2017
properties of the equilibrium investment behavior. The bilateral external benefits induce an investment multiplier effect. This … multiplier effect depends in a complex way on agents' uncertainty about their rank within their own market side and on their … uncertainty about the types and investments of potential partners. We study how the multiplier effect depends on market size and …
Persistent link: https://www.econbiz.de/10011758059
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Rias to coefficients on lagged dependent variables
Grubb, David; Symons, James - 1983
Persistent link: https://www.econbiz.de/10003529856
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Job protection renders minimum wages less harmful
Schöb, Ronnie; Thum, Marcel - 2011
Individual labour productivities are often unobservable for firms when hiring new workers. Job protection may prevent firms ex post from using information about labour productivities. We show that a binding minimum wage introduced in the presence of job protection will lead to lower unemployment...
Persistent link: https://www.econbiz.de/10009302708
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The relevance or otherwise of the central bank’s balance sheet
Miles, David; Schanz, Jochen - 2014
This paper explores the impacts on an economy of a central bank changing the size and composition of its balance sheet. One of the ways in which such asset purchases could influence prices and demand is via portfolio balance effects. We develop and calibrate a simple OLG model in which...
Persistent link: https://www.econbiz.de/10010243977
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Monetary policy and the current account : theory and evidence
Hjortsoe, Ida; Weale, Martin; Wieladek, Tomasz - 2016
for 19 OECD countries. Our empirical results support the theory. We therefore conclude that following a monetary policy …
Persistent link: https://www.econbiz.de/10011436615
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Welfare effects of TTIP in a DSGE model
Engler, Philipp; Tervala, Juha - 2016
Several studies have analyzed the trade and output effects of the Transatlantic Trade and Investment Partnership (TTIP) between the United States and the European Union, but our paper is the first attempt to study its welfare effects. We measure the welfare effect of TTIP as the percentage of...
Persistent link: https://www.econbiz.de/10011527321