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Real Wage Rigidities, Fiscal Policy, and the Stability of Emu in the Transition Phase
Berthold, Norbert - 2006
as the costs of staying inside EMU, e.g., due to further rising unemployment, become too large to bear …
Persistent link: https://www.econbiz.de/10012782610
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Trade Linkages, Balance Sheets, and Spillovers : The Germany-Central European Supply Chain
Elekdag, Selim Ali - 2013
Germany and the Czech Republic, Hungary, Poland, and Slovakia (the CE4) have been in a process of deepening economic integration which has lead to the development of a dynamic supply chain within Europe — the Germany-Central European Supply Chain (GCESC). Model-based simulations suggest two...
Persistent link: https://www.econbiz.de/10013073772
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Government Spending Effects in a Policy Constrained Environment
Mao, Ruoyun - 2020
The theoretical literature generally finds that government spending multipliers are bigger than unity in a low interest rate environment. Using a fully nonlinear New Keynesian model, we show that such big multipliers can decrease when 1) an initial debt-to-GDP ratio is higher, 2) tax burden is...
Persistent link: https://www.econbiz.de/10012828225
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The Fiscal State-Dependent Effects of Capital Income Tax Cuts
Fotiou, Alexandra - 2020
Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high than when it is low. To explore the mechanisms that...
Persistent link: https://www.econbiz.de/10012829699
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Do Sovereign Wealth Funds Reduce Fiscal Policy Pro-Cyclicality? New Evidence Using a Non-Parametric Approach
Alsadiq, Ali; Gutiérrez, Diego Alejandro - 2023
The heightened volatility of commodity prices in recent years, reflecting the effects of the pandemic and the war in Ukraine, begs the longstanding question of the optimal fiscal policy response to commodity price shocks. Fiscal performance in most commodity-exporting countries is typically...
Persistent link: https://www.econbiz.de/10014353685
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How Effective Were Job-Retention Schemes During the COVID-19 Pandemic? A Microsimulation Approach for European Countries
Lam, W. Raphael; Solovyeva, Alexandra - 2023
rise in the unemployment rate, by about 3 percentage points, and income inequality during the pandemic. Our results show …
Persistent link: https://www.econbiz.de/10014254891
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Trade, Jobs, and Inequality
Beaton, kim; Cerra, Valerie; Hadzi-Vaskov, Metodij - 2022
This paper examines the impact of trade on employment, wages, and other outcomes across countries and explores the conditions and policies that help spread the gains from trade more evenly throughout the population. We exploit a large global firm-level dataset to examine the impact of import...
Persistent link: https://www.econbiz.de/10013306781
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Can Institutional Reform Reduce Job Destruction and Unemployment Duration? Yes it Can
Pérez Ruiz, Esther - 2012
We read search theory's unemployment equilibrium condition as an Iso-Unemployment Curve(IUC).The IUC is the locus of … job destruction rates and expected unemployment durations rendering the same unemployment level. A country's position … unemployment level at which such preferences are satisfied Using a panel of 20 OECD countries over 1985-2008, we find employment …
Persistent link: https://www.econbiz.de/10013110086
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How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area
Batini, Nicoletta - 2020
This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...
Persistent link: https://www.econbiz.de/10012828229
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Monetary Policy Under Labor Market Power
Burya, Anastasia; Mano, Rui C.; Timmer, Yannick; Weber, Anke - 2022
, especially for the low-skilled, who saw stagnant wages but a robust decline in unemployment …
Persistent link: https://www.econbiz.de/10014079905