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The Households Effects of Government Consumption

Giavazzi, Francesco - 2012

working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption …

Persistent link: https://www.econbiz.de/10013110925

Debt and the Effects of Fiscal Policy

Favero, Carlo A. - 2010

A shift in taxes or in government spending (a quot;fiscal shockquot;) at some point in time puts a constraint on the path of taxes and spending in the future, since the government intertemporal budget constraint will eventually have to be met. This simple fact is surprisingly overlooked in...

Persistent link: https://www.econbiz.de/10012760463

What Do We Know About the Effects of Austerity?

Alesina, Alberto F. - 2018

This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts are much less costly in terms of short run output losses than tax based adjustments. On...

Persistent link: https://www.econbiz.de/10012929010

Effects of Austerity : expenditure- and tax-based approaches

Favero, Carlo A.; Giavazzi, Francesco; Alesina, Alberto - 2019

Persistent link: https://www.econbiz.de/10012125457

Searching for Non-Monotonic Effects of Fiscal Policy : New Evidence

Giavazzi, Francesco; Jappelli, Tullio; Pagano, Marco; … - 2021

in net taxes has no effect on national saving during large fiscal contractions or expansions. For government consumption …

Persistent link: https://www.econbiz.de/10013243446

Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy

Favero, Carlo A. - 2011

This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question "what is the fiscal policy...

Persistent link: https://www.econbiz.de/10013121730

Searching for Non-Linear Effects of Fiscal Policy : Evidence from Industrial and Developing Countries

Giavazzi, Francesco; Jappelli, Tullio; Pagano, Marco - 2021

Several recent studies suggest that the response of national saving to fiscal policy may be non-linear. In this paper we use two data sets to search for the circumstances in which such non-linear responses may arise: a sample of OECD countries used in previous studies, and sample of developing...

Persistent link: https://www.econbiz.de/10013227034

Non-Keynesian Effects of Fiscal Policy Changes : International Evidence and the Swedish Experience

Giavazzi, Francesco; Pagano, Marco - 2021

consumption confirms that fiscal policy changes - both contractions and expansions - can have non-Keynesian effects if they are … sufficiently large and persistent, and suggests that these effects can result not only from changes in public consumption but to … decrease in net taxes (with almost no change in public consumption) was associated with a dramatic fall in private domestic …

Persistent link: https://www.econbiz.de/10013217936

Managing the Public Debt in Fiscal Stabilizations : The Evidence

Missale, Alessandro; Giavazzi, Francesco; Benigno, Pierpaolo - 2021

This paper provides evidence on the behavior of public debt managers during fiscal" stabilizations in OECD countries over the last two decades. We find that debt maturity tends to" lengthen the more credible the program, the lower the long-term interest rate and the higher the" volatility of...

Persistent link: https://www.econbiz.de/10013210679

Central Banks and the Financial System

Giavazzi, Francesco - 2010

Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with a...

Persistent link: https://www.econbiz.de/10013139754