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Fiscal Dominance in Sub-Saharan Africa Revisited

Hooley, John; Nguyen, Lam; Saito, Mika; Nikaein … - 2021

This paper explores the causes and consequences of fiscal dominance over monetary policy in Sub-Saharan Africa (SSA). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and increasingly so as fiscal deficits and public debt are...

Persistent link: https://www.econbiz.de/10013243067

It's Not All Fiscal : Effects of Income, Fiscal Policy, and Wealth on Private Consumption

Jaramillo, Laura - 2015

and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to …

Persistent link: https://www.econbiz.de/10013021438

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Dell'Erba, Salvatore - 2013

This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP … variables for a panel of OECD countries for the period 1989-2012. We find that two global factors — the global monetary and …

Persistent link: https://www.econbiz.de/10013078375

Fiscal Buffers, Private Debt, and Stagnation : The Good, the Bad and the Ugly

Batini, Nicoletta - 2016

We revisit the empirical relationship between private/public debt and output, and build a model that reproduces it. In the model, the government provides financial assistance to credit-constrained agents to mitigate deleveraging. As we observe in the data, surges in private debt are potentially...

Persistent link: https://www.econbiz.de/10012977865

Assessing Macro-Financial Risks of Household Debt in China

Han, Fei - 2020

High household indebtedness could constrain future consumption growth and increase financial stability risks. This … paper uses household survey data to analyze both macroeconomic and finanical stability risks from the rapidly rising … household debt in China. We find that rising household indebtedness could boost consumption in the short term, while reducing it …

Persistent link: https://www.econbiz.de/10012843517

Stabilization, Debt, and Fiscal Policy in the Caribbean

Sahay, Ratna - 2021

Although Caribbean countries have been largely successful in bringing annual inflation down to single digits in recent years - regardless of their exchange rate regime - their growth rates have been disappointing and their public debt has risen rapidly. By 2003, 14 of 15 Caribbean countries...

Persistent link: https://www.econbiz.de/10013318090

Fiscal Policy and Lending Relationships

Melina, Giovanni - 2013

This paper studies how fiscal policy affects loan market conditions in the US. First, itconducts a Structural Vector-Autoregression analysis showing that the bank spread respondsnegatively to an expansionary government spending shock, while lending increases. Second,it illustrates that these...

Persistent link: https://www.econbiz.de/10013080221