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The role of MPC heterogeneity for fiscal and monetary policy in the Euro Area
Albacete, Nicolas; Fessler, Pirmin; Pekanov, Atanas - 2024
Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data - we employ data of 22 European countries to assess the role of heterogeneity of the marginal propensity to consume (MPC) for fiscal policy in the Euro area. We document an...
Persistent link: https://www.econbiz.de/10014486919
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China and India : a tale of two trade integration approaches
Kowalski, Przemyslaw (contributor) - 2008
The comparison of the key features of trade integration processes and the economic outcomes in China and India reveals that while much has already been achieved in both these economies, the Chinese reforms, especially with respect to manufacturing trade, have gone further and that this is likely...
Persistent link: https://www.econbiz.de/10003746305
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Reverse causality between oil policy and fiscal policy? : the Venezuelan experience
Manzano, Osmel; Saboin, José Luis - 2021
This paper uses a model of intergenerational accounting to simulate the intergenerational distribution of oil wealth in Venezuela. Venezuelan oil production does not seem to follow an optimal extraction path. Nevertheless, this is true if we do not consider what the government does with the...
Persistent link: https://www.econbiz.de/10012583980
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The nonlinear effects of fiscal policy
Brinca, Pedro; Faria-e-Castro, Miguel; Ferreira, Miguel H. - 2019
We argue that the fiscal multiplier of government purchases is increasing in the spending shock, in contrast to what is assumed in most of the literature. The fiscal multiplier is largest for large positive government spending shocks and smallest for large contractions in government spending. We...
Persistent link: https://www.econbiz.de/10012015562
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Regional consumption responses and the aggregate fiscal multiplier
Dupor, Bill; Karabarbounis, Marios; Kudlyak, Marianna; … - 2018
spending on consumer spending. Our consumption data come from household-level retail purchases in Nielsen and auto purchases … spending by $0.29. We translate the regional consumption responses to an aggregate fiscal multiplier using a multi-region, New … multiplier, a result that distinguishes our incomplete markets model from models with complete markets. The aggregate consumption …
Persistent link: https://www.econbiz.de/10011911427
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Ricardian fiscal regimes in the European Union
Afonso, António - In: Empirica : journal of european economics 35 (2008) 3, pp. 313-334
Persistent link: https://www.econbiz.de/10003726486
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Is fiscal policy in the euro area Ricardian?
Panjer, Nikki; Haan, Leo de; Jacobs, Jan - In: Empirica : journal of european economics 47 (2020) 2, pp. 411-429
Persistent link: https://www.econbiz.de/10012224278
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Discretionary fiscal policy and economic activity in Greece
Tagkalakis, Athanasios - In: Empirica : journal of european economics 41 (2014) 4, pp. 687-712
Persistent link: https://www.econbiz.de/10010482478
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The Covid-19 crisis and consumption : survey evidence from six EU countries
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - 2020
Persistent link: https://www.econbiz.de/10012502781
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Fiscal stimulus with learning-by-doing
D'Alessandro, Antonello; Fella, Giulio - 2017
Using a structural VAR analysis, we document that an increase in government purchases raises private consumption, total … monetary policy rule, the real interest rate. Consumption increases as a result. …
Persistent link: https://www.econbiz.de/10011694749