Showing 1 - 10 of 141
variance in multiplier estimates can be explained by the national imprint and various author incentives. For this purpose, we … matter for the degree and direction of multiplier estimates. These potential biases largely disappear for teams of …
Persistent link: https://www.econbiz.de/10012029022
In this article, we present a model that can account for the changes in the Germancurrent account balance since the 2000s. Our results suggest that an array of struc-tural tax and labor market reforms (Agenda 2010), population aging and pensionreforms led to an increase in the household savings...
Persistent link: https://www.econbiz.de/10012256500
We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment and a complex international structure. We use the model...
Persistent link: https://www.econbiz.de/10010516561
By applying a Structural Vector Autoregressive (SVAR) approach this paper estimates the effects of fiscal policy shocks of different government sub-sectors on aggregate GDP in Germany. From a general government perspective, the results show that besides investment, it is particularly changes in...
Persistent link: https://www.econbiz.de/10011897960
even by 20% for liquidity-constrainedhouseholds. The long-run present value multiplier of the package amounts to 0 …
Persistent link: https://www.econbiz.de/10012671256
multiplier far below one. However, the stimulus ́multiplier strongly depends on the assumed monetary policy response. Based on …
Persistent link: https://www.econbiz.de/10010258714
expenditure multiplier. This study uses recent cross-country data on reported rates of time preferences gathered by Wang, Rieger … expenditure multiplier. Our findings may help to explain some of the differences in view over the optimal path for fiscal …
Persistent link: https://www.econbiz.de/10009692601
Persistent link: https://www.econbiz.de/10009426268
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
This paper investigates the impact of population ageing on the economic and fiscal performance of Finland, a small open economy, which has undergone a rapid and significant demographic shift since 2010. By employing the Synthetic Control Method (SCM) to create a counterfactual scenario without...
Persistent link: https://www.econbiz.de/10015130228