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Persistent link: https://www.econbiz.de/10003528823
Recent macro developments in the euro area have highlighted the interactions between fiscal policy, sovereign debt, and financial fragility. We take a structural macroeconomic model with frictions in the financial intermediation process, in line with recent research, but introduce asset choice...
Persistent link: https://www.econbiz.de/10009625616
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I calculate unemployment multipliers of fiscal consolidation policies in a standard, closed-economy New Keynesian framework with search and matching frictions, and, as an innovation, in the presence of sectoral heterogeneity. Family and non-family firms behave differently in the labor market and...
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Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant … dimensions are included in the analysis: tax structure, expenditure structure, public debt and budget size. Globalization as a … globalization does indeed matter for government budgets. However, substantial room for an individual national policy particularly in …
Persistent link: https://www.econbiz.de/10013428253
We analyse the Polish wage and unemployment structure between 1992 and 1995 on the basis of the Polish Labour Force Survey. It is shown that within this period wage inequality has stabilised. Surprisingly, wage inequality is lower in the private than in the public sector. Our test results show...
Persistent link: https://www.econbiz.de/10000625163
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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