Similar Search Results

Political institutions, state building, and tax capacity : crossing the tipping point

Gaspar, Vítor; Jaramillo, Laura; Wingender, Philippe - 2016

An empirical finding by Gaspar, Jaramillo and Wingender (2016) shows that once countries cross a tax-to-GDP threshold … of around 12 3/4 percent, real GDP per capita increases sharply and in a sustained manner over the following decade. In …

Persistent link: https://www.econbiz.de/10011716283

Tax capacity and growth : is there a tipping point?

Gaspar, Vítor; Jaramillo, Laura; Wingender, Philippe - 2016

Is there a minimum tax to GDP ratio associated with a significant acceleration in the process of growth and development …? We give an empirical answer to this question by investigating the existence of a tipping point in tax-to-GDP levels. We … are similar at about 12 3/4 percent of GDP. For the contemporary dataset we find that a country just above the threshold …

Persistent link: https://www.econbiz.de/10011716284

A medium-scale DSGE model for the integrated policy framework

Adrian, Tobias; Gaspar, Vítor; Vitek, Francis - 2022

This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, macroprudential policy, and capital flow management. This policy analysis is based on an estimated medium-scale dynamic stochastic general equilibrium (DSGE) model of the world...

Persistent link: https://www.econbiz.de/10013170322

Government consumption volatility and country size

Furceri, Davide (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003796074

Sovereign risk, fiscal policy, and macroeconomic stability

Corsetti, Giancarlo; Küster, Keith; Meier, André; … - 2012

Persistent link: https://www.econbiz.de/10009488220

What determines government spending multipliers?

Corsetti, Giancarlo; Meier, André; Müller, Gernot J. - 2012

This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...

Persistent link: https://www.econbiz.de/10009618568

The effects of fiscal measures during COVID-19

Deb, Pragyan; Furceri, Davide; Ostry, Jonathan David; … - 2021

This paper empirically examines the effects of fiscal policy measures during the COVID-19 pandemic, using a novel database of daily fiscal policy announcements-classified by type of fiscal measure-and high-frequency economic indicators for 52 countries from January 1 to December 31, 2020. The...

Persistent link: https://www.econbiz.de/10012796244

The rise in inequality after pandemics : can fiscal support play a mitigating role?

Furceri, Davide; Loungani, Prakash; Ostry, Jonathan David; … - 2021

inequality. Episodes marked by extreme austerity-measured using either the government's fiscal balance, health expenditures or … understandable concerns about high public debt-to-GDP ratios …

Persistent link: https://www.econbiz.de/10012613680

Reflating Japan : time to get unconventional?

Arbatli, Elif; Botman, Dennis P. J.; Clinton, Kevin; … - 2016

Japan has ambitious economic goals: 3 percent nominal growth; 2 percent inflation; and a primary budget surplus. Abenomics has employed the three arrows of monetary, fiscal and structural policies, but the goals remain out of reach. We propose that countercyclical measures be embedded in...

Persistent link: https://www.econbiz.de/10011715113

Fiscal politics in the euro area

Eyraud, Luc; Gaspar, Vítor; Poghosyan, Tigran - 2017

This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries participating in the euro area over 1999-2015. We look for, but do not find,...

Persistent link: https://www.econbiz.de/10011716502