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Exploring the output effect of fiscal policy shocks in low income countries
Honda, Jiro; Miyamoto, Hiroaki; Taniguchi, Mina - 2020
What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...
Persistent link: https://www.econbiz.de/10012252736
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The Impact of Fiscal Policy Variableson Output Growth
Gerson, Philip R. - 1998
This paper surveys the theoretical and empirical literature on the relationship between taxation and public expenditure and economic growth. Particular attention is paid to the effect of taxation and government expenditure on the supply and productivity of labor and physical capital. Studies...
Persistent link: https://www.econbiz.de/10014400103
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The global economic recovery 10 years after the 2008 financial crisis
Chen, Wenjie; Mrkaic, Mico; Nabar, Malhar - 2019
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012019853
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Tax reforms and fiscal shock smoothing
Amaglobeli, David; Jaramillo Echeverri, Laura; Karnane, … - 2019
This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies … magnitude of shock smoothing increases from an average of 2 percent to 3-3 1\2 percent following the reform. The effects are … symmetric-that is, the increase in shock smoothing following a reform expanding the tax base (rate) is similar to the decline in …
Persistent link: https://www.econbiz.de/10012021994
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The Eastern Caribbean Currency Union : Would a Fiscal Insurance Mechanism Mitigate National Income Shocks?
Cashin, Paul - 2012
percent of the initial income shock. Each member of the currency union could benefit as well, although the extent of shock …
Persistent link: https://www.econbiz.de/10014396936
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The fiscal state-dependent effects of capital income tax cuts
Fotiou, Alexandra; Shen, Wenyi; Yang, Shu-Chun S. - 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/10012251390
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The Potential Contribution of Fiscal Policy to Rebalancing and Growth in New Zealand
Schule, Werner - 2010
Simulations with the Fund’s GIMF model show that raising government savings in New Zealand permanently by 1 percent of GDP is likely to improve the current account balance by about 1⁄2 percent of GDP. The way government savings are achieved matters for GDP but little for the current account....
Persistent link: https://www.econbiz.de/10014403231
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A monthly indicator of economic growth for low income countries
Stanger, Michael - 2020
Monthly economic indicators support policy analysis of current economic developments and forecasting. This paper presents an overview of the data and statistical requirements to develop those indicators taking into account resource constraints that LIC typically face. We review statistical...
Persistent link: https://www.econbiz.de/10012252734
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Modeling the Macroeconomic Impact of HIV/AIDS
Haacker, Markus - 2002
The paper addresses the impact of HIV/AIDS on per capita output and income, with particular emphasis on the role of labor mobility between the formal and informal sectors, and the impact of the epidemic on investment decisions. The study finds that HIV/AIDS affects both the supply of labor and...
Persistent link: https://www.econbiz.de/10014399548
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U.S. investment since the Tax Cuts and Jobs Act of 2017
Kopp, Emanuel; Leigh, Daniel; Mursula, Susanna; … - 2019
There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA primarily as a windfall for shareholders. We find that U.S....
Persistent link: https://www.econbiz.de/10012022032