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Application of the monetary policy function to output fluctuations in Bangladesh

Hsing, Yu; Jamal, A. M. M.; Hsieh, Wen-jen - In: Economics Bulletin 29 (2009) 3, pp. 2113-2122

Applying the monetary policy function, this paper finds that real GDP in Bangladesh is positively associated with real deprecation, real financial stock price, and world output and negatively influenced by the world real interest rate. The coefficient of the ratio of government consumption...

Persistent link: https://www.econbiz.de/10008562998

Asymmetric adjustment of retail gasoline prices in turkey to world crude oil price changes: the role of taxes

Alper, C. emre; Torul, Orhan - In: Economics Bulletin 29 (2009) 2, pp. 775-787

We empirically investigate the impact of shocks to world crude oil prices on retail gasoline prices in Turkey during the 1991-2007 period. Using a Structural-VAR methodology and monthly frequency data, we report that Turkish retail gasoline prices respond significantly to increasing world crude...

Persistent link: https://www.econbiz.de/10008563094

A note on poor-institution traps in international fiscal policy games

Faure, Pierre - In: Economics Bulletin 31 (2011) 1, pp. 375-387

This note explores the link between the effort level to strengthen institutional quality and the nature of the fiscal policy game among interdependent economies plagued by corruption. Every country has a lower incentive to improve public governance when the effort made abroad to remedy...

Persistent link: https://www.econbiz.de/10008802471

Ramsey Fiscal Policy and Endogenous Growth: A Comment

Tang, Jenn-hong - In: Economics Bulletin 30 (2010) 3, pp. 2450-2456

Recently, Park (2009, Economic Theory 39, 377--398) extended the Barro endogenous growth model (1990) by assuming that tax rate is optimally chosen by the government and labor supply is elastic. Park claimed to have proved the existence of multiple balanced growth paths that exhibit zero growth...

Persistent link: https://www.econbiz.de/10008643836

Consolidation first - About twin deficits and the causal relation between fiscal budget and current account imbalances

Hartmann, Matthias; Herwartz, Helmut - In: Economics Bulletin 32 (2012) 4, pp. 3313-3319

During recent years, large trade- and budget deficits have accumulated especially in advanced economies. This study examines if this coincidence actually reflects a causal relation. Economic theory and previously documented findings on causality between trade and government balances are...

Persistent link: https://www.econbiz.de/10011278568

Fiscal Policy, Consumption and Current Account in the European Countries

Magazzino, Cosimo - In: Economics Bulletin 32 (2012) 2, pp. 1330-1344

This paper explores the relationship between fiscal deficit, trade deficit and private consumption in European countries in the years 1970-2010. The aim of the study is to test empirically the validity and rationale of the Keynesian proposition (conventional view or Twin Deficits hypothesis) and...

Persistent link: https://www.econbiz.de/10011278649

Closed Form of Fiscal Multipliers in a DSGE model with Liquidity-Constrained households

Tamegawa, Kenichi - In: Economics Bulletin 32 (2012) 4, pp. 3148-3157

liquidity-constrained households. The closed form indicates that the first-period multiplier depends monotonically on the … multiplier is obtained as the inverse of one minus the labor share. This result indicates that our model has the traditional … Keynesian fiscal multiplier (the inverse of one minus the marginal propensity to consume) as a special case. …

Persistent link: https://www.econbiz.de/10011278677

International consumption risk sharing and fiscal policy

Koenig, Gilbert; Zeyneloglu, Irem - In: Economics Bulletin 32 (2012) 2, pp. 1250-1260

The present paper uses a two-country stochastic general equilibrium model assuming incomplete financial markets and non-separable consumer preferences to show how optimal fiscal responses to an asymmetric productivity shock can mitigate the worsening of the international consumption risk sharing...

Persistent link: https://www.econbiz.de/10011278738

The Nexus between Disaggregated Public Spending and GDP in the Euro Area

Magazzino, Cosimo - In: Economics Bulletin 32 (2012) 3, pp. 2560-2579

This paper aims to analyze the nexus between disaggregated public spending and GDP in the Euro Area for the period 1990-2010 at a disaggregated level, using a time series approach. We estimated this nexus for ten items of public spending according to the COFOG functional classification. Taking...

Persistent link: https://www.econbiz.de/10011278750