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Fiscal Policy, Sovereign Default, and Bailouts
Juessen, Falko - 2013
relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to … close-to-default states. These bailouts can lead to an increase in the mean debt price and a lower default probability that … public debt never decreases in the long-run when bailout loans are available …
Persistent link: https://www.econbiz.de/10013071428
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Households Debt Restructuring : The Re-Default Effect of a Debt Suspension
Fraisse, Henri - 2017
). The HDC can order an immediate repayment or grant a debt suspension. Exploiting the random assignment of bankruptcy … filings to managers, we show that a debt suspension has a very significant and negative effect on the likelihood to re … the nature of their indebtedness. Our results imply that rather than focusing on a specific debt profile, above all a …
Persistent link: https://www.econbiz.de/10012946593
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Partisan Impacts on the Economy : Evidence from Prediction Markets and Close Elections
Snowberg, Erik C. - 2011
Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...
Persistent link: https://www.econbiz.de/10012757085
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Democracy and Reforms
Giuliano, Paola - 2009
Empirical evidence on the relationship between democracy and economic reforms is scarce, limited to few reforms and countries and for few years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital, public, and...
Persistent link: https://www.econbiz.de/10012764651
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Optimal Unemployment Benefits in the Pandemic
Mitman, Kurt - 2020
How should unemployment benefits vary in response to the economic crisis induced by the COVID-19 pandemic? We answer this question by computing the optimal unemployment insurance response to the COVID-induced recession.We compare the optimal policy to the provisions under the CARES Act—which...
Persistent link: https://www.econbiz.de/10012830644
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Welfare : Savings Not Taxation
Douglas, Roger - 2017
Many nations are seeking to reform their welfare states so that costs to the government can be reduced and the quality of outcomes improved. As a potential way to achieve these aims, there has been a surge of interest in the Singaporean model which features compulsory savings accounts and...
Persistent link: https://www.econbiz.de/10012960259
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Heterogeneity and Government Revenues : Higher Taxes at the Top?
Guner, Nezih - 2014
We evaluate the effectiveness of a more progressive tax scheme in raising government revenues. We develop a life-cycle economy with heterogeneity and endogenous labor supply. Households face a progressive income tax schedule, mimicking the Federal Income tax, and flat-rate taxes that capture...
Persistent link: https://www.econbiz.de/10013049753
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Public Expenditure, Demography and Growth : Theory and Evidence from India
Das, Pranab Kumar - 2016
Many countries in the developed world are ageing in terms of their distribution of population. Conversely, a number of countries in the south have younger population. India for example, has 60% of its population in the age group of 15-59, with the mean age close to 27 years as of present times....
Persistent link: https://www.econbiz.de/10012999017
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From Golden Age to Golden Age : Australia's 'Great Leap Forward'?
Gregory, Robert - 2006
The twenty-five years after WW2 witnessed strong labour market institutions and beneficial labour market outcomes - high wage growth and integration of low-skilled immigrants. Then came the macro shocks of the mid 1970s. Labour market outcomes deteriorated as full-time employment population...
Persistent link: https://www.econbiz.de/10012780356
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Demand Stimulus as Social Policy
Auerbach, Alan J.; Gorodnichenko, Yuriy; Murphy, Daniel - 2022
We exploit a panel of city-level data with rich demographic information to estimate the distributional effects of Department of Defense spending and its effects on a range of social outcomes. The income generated by defense spending accrues predominantly to households without a bachelor's...
Persistent link: https://www.econbiz.de/10014076469