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The Households Effects of Government Consumption
Giavazzi, Francesco - 2012
working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption …
Persistent link: https://www.econbiz.de/10013110925
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Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy
Favero, Carlo A. - 2011
This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question "what is the fiscal policy...
Persistent link: https://www.econbiz.de/10013121730
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Debt and the Effects of Fiscal Policy
Favero, Carlo A. - 2010
A shift in taxes or in government spending (a quot;fiscal shockquot;) at some point in time puts a constraint on the path of taxes and spending in the future, since the government intertemporal budget constraint will eventually have to be met. This simple fact is surprisingly overlooked in...
Persistent link: https://www.econbiz.de/10012760463
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What Do We Know About the Effects of Austerity?
Alesina, Alberto F. - 2018
This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts are much less costly in terms of short run output losses than tax based adjustments. On...
Persistent link: https://www.econbiz.de/10012929010
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Non-Keynesian Effects of Fiscal Policy Changes : International Evidence and the Swedish Experience
Giavazzi, Francesco; Pagano, Marco - 2021
consumption confirms that fiscal policy changes - both contractions and expansions - can have non-Keynesian effects if they are … sufficiently large and persistent, and suggests that these effects can result not only from changes in public consumption but to … decrease in net taxes (with almost no change in public consumption) was associated with a dramatic fall in private domestic …
Persistent link: https://www.econbiz.de/10013217936
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Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries
Giavazzi, Francesco; Pagano, Marco - 2021
, households will revise upwards their estimate of their permanent income, and will raise current and planned consumption. Only the …
Persistent link: https://www.econbiz.de/10013238952
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Managing the Public Debt in Fiscal Stabilizations : The Evidence
Missale, Alessandro; Giavazzi, Francesco; Benigno, Pierpaolo - 2021
This paper provides evidence on the behavior of public debt managers during fiscal" stabilizations in OECD countries over the last two decades. We find that debt maturity tends to" lengthen the more credible the program, the lower the long-term interest rate and the higher the" volatility of...
Persistent link: https://www.econbiz.de/10013210679
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Searching for Non-Monotonic Effects of Fiscal Policy : New Evidence
Giavazzi, Francesco; Jappelli, Tullio; Pagano, Marco; … - 2021
in net taxes has no effect on national saving during large fiscal contractions or expansions. For government consumption …
Persistent link: https://www.econbiz.de/10013243446
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Searching for Non-Linear Effects of Fiscal Policy : Evidence from Industrial and Developing Countries
Giavazzi, Francesco; Jappelli, Tullio; Pagano, Marco - 2021
Several recent studies suggest that the response of national saving to fiscal policy may be non-linear. In this paper we use two data sets to search for the circumstances in which such non-linear responses may arise: a sample of OECD countries used in previous studies, and sample of developing...
Persistent link: https://www.econbiz.de/10013227034