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The Household Fallacy
Farmer, Roger E. A. - 2018
We refer to the idea that government must 'tighten its belt' as a necessary policy response to higher indebtedness as the household fallacy. We provide a reason to be skeptical of this claim that holds even if the economy always operates at full employment and all markets clear. Our argument...
Persistent link: https://www.econbiz.de/10012925293
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The Impact of Inflation on Budgetary Discipline
Aizenman, Joshua; Hausmann, Ricardo - 2021
This paper investigates budgetary rules for an economy characterized by inflation and volatile relative prices. We view the budgetary process as a limited contingencies contract between the treasury and the ministers. The budgetary process allows a minister, whose realized real budget falls...
Persistent link: https://www.econbiz.de/10013249153
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Gender Differences in Covid-19 Related Attitudes and Behavior : Evidence from a Panel Survey in Eight OECD Countries
Galasso, Vincenzo - 2020
Using original data from two waves of a survey conducted in March and April 2020 in eight OECD countries (N = 21,649), we show that women are more likely to see COVID-19 as a very serious health problem, to agree with restraining public policy measures adopted in response to it, and to comply...
Persistent link: https://www.econbiz.de/10012831280
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The "Austerity Myth" : Gain Without Pain?
Perotti, Roberto - 2011
detailed case studies, two - Denmark and Ireland - undertaken under fixed exchange rates (the most relevant case for many … Eurozone countries today) and two - Finland and Sweden - after floating the currency.All four episodes were associated with an … economy lost competitiveness. In all the others for a long time the main driver of growth was exports. In Ireland this …
Persistent link: https://www.econbiz.de/10013118837
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Modeling Great Depressions : The Depression in Finland in the 1990s
Conesa, Juan Carlos - 2010
occurred in Finland in the early 1990s. We find that the sharp drop in real GDP over the period 1990-93 was driven by a … increases in government consumption during 1989-94, which drove down hours worked in Finland. We attempt to endogenize the drop …
Persistent link: https://www.econbiz.de/10012759701
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Why is Infant Mortality Higher in the Us than in Europe?
Chen, Alice - 2014
The US has higher infant mortality than peer countries. In this paper, we combine micro-data from the US with similar data from four European countries to investigate this US infant mortality disadvantage. The US disadvantage persists after adjusting for potential differential reporting of...
Persistent link: https://www.econbiz.de/10013046602
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Compulsory Voting, Turnout, and Government Spending : Evidence from Austria
Hoffman, Mitchell - 2016
We study a unique quasi-experiment in Austria, where compulsory voting laws are changed across Austria's nine states at …
Persistent link: https://www.econbiz.de/10012992660
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Target Loans, Current Account Balances and Capital Flows : The Ecb's Rescue Facility
Sinn, Hans-Werner - 2011
destroyed the Bretton Woods System. Greece, Ireland, Portugal, Spain and Italy have suffered from balance-of-payments deficits …
Persistent link: https://www.econbiz.de/10013118098
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Political Credit Cycles : The Case of the Euro Zone
Fernández-Villaverde, Jesús - 2013
process in Greece, Spain, Ireland, and Portugal and, by way of contrast, in Germany, a country that did experience a reform …
Persistent link: https://www.econbiz.de/10013084731
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Nonlinearities in Sovereign Risk Pricing : The Role of CDS Index Contracts
Delatte, Anne-Laure - 2014
Is the pricing of sovereign risk linear during bearish episodes? Or can initial shocks on economic fundamentals be exacerbated by endogenous factors that create nonlinearities? We test for nonlinearities in the sovereign bond market of European peripheral countries during the debt crisis and...
Persistent link: https://www.econbiz.de/10013056598