Showing 1 - 10 of 33
is necessary if they choose public transportation. Furthermore a tax-deductible flat-rate per kilometer is required if …
Persistent link: https://www.econbiz.de/10010291107
calls for corrective tax increases for the rich and wealthy. Such calls are often confronted with the claim that higher … taxes on top personal incomes, corporate income and wealth are detrimental to growth and employment and/or will foster tax … taxation. Furthermore, from a Keynesian macroeconomic perspective redistribution may even be systematically conducive to growth …
Persistent link: https://www.econbiz.de/10011304480
We simulate the Euro Area's fiscal consolidation between 2011 and 2013 by employing two DSGE models used by the ECB and the European Commission, respectively. The cumulative multiplier amounts to 0.7 and 1.0 in the baseline, but increases to 1.3 with a reasonably calibrated financial accelerator...
Persistent link: https://www.econbiz.de/10011372378
redistribution and stabilisation, its reduction could reduce the already minimal capacity of the budget to perform these functions … Einnahmeseite kann, gegeben die nationalen Budgetbeiträge dienen als Hauptquelle der Umverteilung und Stabilisierung, die bereits …
Persistent link: https://www.econbiz.de/10011662289
On the one hand, every official document about fiscal policy in Spain, and most orthodox academic papers argue that Spain has no "fiscal space" and that it should apply resolute actions to assure budget consolidation. On the other hand, Spain also had the second highest unemployment rate in the...
Persistent link: https://www.econbiz.de/10011662291
We analyze whether there are negative (positive) long-term effects of austerity measures (stimulus measures) on potential output growth. Based on the approach of Blanchard and Leigh (2013) and Fatás and Summers (2016) and using a novel dataset of narratively identified fiscal policy shocks, we...
Persistent link: https://www.econbiz.de/10011984247
Preferences over wealth can explain why households do not spend more when real interest rates fall, because they save more than optimal under a standard model. However, little is known about preferences over wealth empirically. We run an intentionally simple lab experiment on intertemporal...
Persistent link: https://www.econbiz.de/10012140630
We study a demand-driven growth and distribution model with a public sector, both without and with government debt. Government spending is used to finance the accumulation of public capital and to pay wages to public employees. The interaction between public capital and induced technical change...
Persistent link: https://www.econbiz.de/10011498364
In response to the economic crisis created by the COVID-19 pandemic, many governments provided financial assistance to households. Using representative consumer surveys conducted during the pandemic in 2020, we examine the effects of this fiscal policy instrument on households in two emerging...
Persistent link: https://www.econbiz.de/10012606186
This paper shows that important insights for fiscal policy can be derived from Joseph Schumpeter's academic work. This concerns his fundamental distinction between theories in which the monetary sphere is identical with the real sphere ("real analysis"), and theories in which financial sphere is...
Persistent link: https://www.econbiz.de/10014278243