Narrow search
Showing 1 - 10 of 1,484
Cover Image
Smooth operator : remittances and fiscal shocks
Beaton, Kimberly; Cevik, Serhan; Yousefi, Seyed Reza - 2017
. While there is abundant evidence that remittances facilitate consumption smoothing in receving countries, the literature has … impact of remittances on the stability of household consumption, using both cross-country and household-level datasets. Our … focus is on whether the consumption-smoothing effect changes with fiscal policy phases and whether remittances and …
Persistent link: https://www.econbiz.de/10011705313
Cover Image
Sub-national government’s risk premia : does fiscal performance matter?
Sola, Sergio; Palomba, Geremia - 2015
This paper examines the determinants of sub-national governments risk premia using secondary market data for U.S., Canada, Australia and Germany. It finds that, as for central governments, fiscal fundamentals matter in the pricing of risk premia, and sub-national governments with higher public...
Persistent link: https://www.econbiz.de/10011374734
Cover Image
Macroeconomic and Welfare Costs of U.S. Fiscal Imbalances
Gruss, Bertrand - 2012
loss of almost 7 percent of lifetime consumption. Moreover, the long-run welfare gains from the adjustment would more than …
Persistent link: https://www.econbiz.de/10014396892
Cover Image
Financial concerns and the marginal propensity to consume in COVID times : evidence from UK survey data
Albuquerque, Bruno; Green, Georgina - 2022
We study how household concerns about their future financial situation may affect the marginal propensity to consume (MPC) during the COVID-19 pandemic. We use a representative survey of UK households to compute the MPC from a hypothetical transfer of pound 500. We find that household...
Persistent link: https://www.econbiz.de/10013169991
Cover Image
Food price shocks and household consumption in developing countries : the role of fiscal policy
Meyimdjui, Carine; Combes, Jean-Louis - 2021
Persistent link: https://www.econbiz.de/10012487299
Cover Image
Sub-national credit risk and sovereign bailouts : who pays the premium?
Jenkner, Eva; Lu, Zhongjin - 2014
Persistent link: https://www.econbiz.de/10010389567
Cover Image
A Fiscal Theory of the Currency Risk Premium and of Sterilized Intervention
Kumhof, Michael - 2002
This paper develops a dynamic stochastic general equilibrium monetary portfolio choice model that accomplishes two objectives. First, it provides a theory of currency risk premia based on a weak and plausible form of fiscal nonneutrality. Domestic and foreign bonds become imperfect substitutes,...
Persistent link: https://www.econbiz.de/10014399807
Cover Image
Foreign Exchange Risk Premium : Does Fiscal Policy Matter? Evidence From Italian Data
Giorgianni, Lorenzo - 1997
This paper challenges the conventional view that foreign exchange risk premiums are small, not volatile, and unrelated to macroeconomic variables. For the Italian lira (1987-94), unconditional risk premiums—constructed using survey data to measure exchange rate expectations—are found to be...
Persistent link: https://www.econbiz.de/10014403290
Cover Image
It’s Not All Fiscal: Effects of Income, Fiscal Policy, and Wealth on Private Consumption
Jaramillo Echeverri, Laura - 2015
We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income … and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to … 2012, using an error correction specification. We find a significant long-term relation between consumption and the …
Persistent link: https://www.econbiz.de/10012418219
Cover Image
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