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Expenditure reform in industrialised countries: a case study approach

Hauptmeier, Sebastian; Heipertz, Martin; Schuknecht, Ludger - 2006

This study examines reforms of public expenditure in industrialised countries over the past two decades. We distinguish ambitious and timid reformers and analyse in detail reform experiences in eight case studies of ambitious reform episodes. We find that ambitious reform countries reduce...

Persistent link: https://www.econbiz.de/10011604680

Indebtedness and Spending : What Happens When the Music Stops?

Le Blanc, Julia - 2020

We analyse the effect of shocks to housing wealth and income before and after the Great Recession. We combine datasets containing information on expenditure, income, wealth and debt in a synthetic panel to understand how household indebtedness affects the response to income and wealth shocks. We...

Persistent link: https://www.econbiz.de/10012837588

Income Distribution Determinants and Public Spending Efficiency

Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2021

In this paper we examine the impact of public spending, education, and institutions on income distribution in advanced economies. We also assess the efficiency of public spending in redistributing income by using a DEA (Data Envelopment Analysis) nonparametric approach. We find that public...

Persistent link: https://www.econbiz.de/10013316623

The rise of China and India: blessing or curse for the advanced countries?

Stracca, Livio - 2013

countries, but to a loss of manufacturing jobs. A more flexible labour market, lower concentration of employment in … manufacturing and pre-existing trade links with China and India help advanced countries to maximise the growth dividend resulting …This paper evaluates the impact of the rise of large emerging manufacturing exporters such as China and India on …

Persistent link: https://www.econbiz.de/10011605665

Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment

Coenen, Günter - 2020

We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies—forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus—in ameliorating the adverse consequences stemming...

Persistent link: https://www.econbiz.de/10012844862

Monetary Conservatism and Fiscal Policy

Adam, Klaus - 2006

Does an inflation conservative central bank agrave; la Rogoff (1985) remain desirable in a setting with endogenous fiscal policy? To provide an answer we study monetary and fiscal policy games without commitment in a dynamic stochastic sticky price economy with monopolistic distortions. Monetary...

Persistent link: https://www.econbiz.de/10012779800

What Accounts for the Changes in U.S. Fiscal Policy Transmission?

Bilbiie, Florin Ovidiu; Meier, André; Müller, Gernot J. - 2021

Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...

Persistent link: https://www.econbiz.de/10013318046

Substitution Between Domestic and Foreign Currency Loans in Central Europe. Do Central Banks Matter?

Brzoza-Brzezina, Michal - 2010

In this paper we analyse the impact of monetary policy on total bank lending in the presence of a developed market for foreign currency denominated loans and potential substitutability between domestic and foreign currency loans. Our results, based on a panel of four biggest Central European...

Persistent link: https://www.econbiz.de/10013144575

Reforming public expenditure in industrialised countries: are there trade-offs?

Schuknecht, Ludger; Tanzi, Vito - 2005

In this paper, we show that, contrary to common beliefs, over the past two decades several countries were able to reduce public spending by remarkable amounts. These countries did not seem to have suffered from these large reductions either in a macroeconomic sense, or in terms of lower values...

Persistent link: https://www.econbiz.de/10011604481

Government Size, Composition, Volatility and Economic Growth

Afonso, António; Furceri, Davide - 2021

This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...

Persistent link: https://www.econbiz.de/10013316642

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