Narrow search
Showing 1 - 4 of 4
Cover Image
Cross-region transfers in a monetary union : evidence from the US and some implications
Pennings, Steven - 2020
US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...
Persistent link: https://www.econbiz.de/10012241154
Cover Image
When is the Government Transfer Multiplier Large?
Giambattista, Eric - 2017
Transfers to individuals were a larger part of the 2009 U.S. stimulus package than government purchases. Using a two-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained households is (i) larger than the purchase multiplier...
Persistent link: https://www.econbiz.de/10012245731
Cover Image
Consumption Smoothing and Shock Persistence : Optimal Simple Fiscal Rules for Commodity Exporters
Mendes, Arthur - 2017
A common criticism of balanced budget fiscal rules is that they increase the consumption volatility of financially … constrained households who are unable to smooth consumption. This paper evaluates the welfare consequences of simple fiscal rules … to perfectly smooth constrained households' consumption without adversely affecting unconstrained households …
Persistent link: https://www.econbiz.de/10012246187
Cover Image
One rule fits all? : heterogeneous fiscal rules for commodity exporters when price shocks can be persistent : theory and evidence
Mendes, Arthur; Pennings, Steven - 2020
Commodity-exporting developing economies are often characterized as having needlessly procyclical fiscal policy: spending when commodity prices are high and cutting back when prices fall. The standard policy advice is instead to save during price windfalls and maintain spending during price...
Persistent link: https://www.econbiz.de/10012296870