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Austerity in 2009-2013
Alesina, Alberto - 2015
The conventional wisdom is (i) that fiscal austerity was the main culprit for the recessions experienced by many countries, especially in Europe, since 2010 and (ii) that this round of fiscal consolidation was much more costly than past ones. The contribution of this paper is a clarification of...
Persistent link: https://www.econbiz.de/10012457839
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Economic and Political Liberalizations
Giavazzi, Francesco - 2004
liberalizations correspond to the event of becoming a democracy. Using a difference-in-difference estimation, we ask what are the …
Persistent link: https://www.econbiz.de/10012468036
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The Effects of Fiscal Consolidations : Theory and Evidence
Alesina, Alberto - 2017
We investigate the macroeconomic effects of fiscal consolidations based upon government spending cuts, transfers cuts and tax hikes. We extend a narrative dataset of fiscal consolidations, with details on over 3500 measures for 16 OECD countries. We show that government spending cuts and cuts in...
Persistent link: https://www.econbiz.de/10012455296
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The Effects of Paid Family Leave in California on Labor Market Outcomes
Baum, Charles L. - 2013
Using data from the 1997 cohort of the National Longitudinal Survey of Youth (NLSY-97), we examine the effects of California's first in the nation government-mandated paid family leave program (CA-PFL) on mothers' and fathers' use of leave during the period surrounding child birth, and on the...
Persistent link: https://www.econbiz.de/10012458922
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The Output Effect of Fiscal Consolidations
Alesina, Alberto - 2012
The present paper argues that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of fiscal plans rather than of individual fiscal shocks. The simulation of the fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the...
Persistent link: https://www.econbiz.de/10012460328
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The Transmission Mechanism of Monetary Policy in Europe : Evidence from Banks' Balance Sheets
Favero, Carlo A. - 1999
implement a case-study on the response of banks in France, Germany, Italy and Spain to a monetary tightening. The episode we … transmission chain by analysing the response of bank loans to the monetary tightening. Our experiment provides evidence on the … not find evidence of a significant response of bank loans to the monetary tightening, which occurred during 1992, in any …
Persistent link: https://www.econbiz.de/10012471558
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High Yields : The Spread on German Interest Rates
Favero, Carlo - 1996
bonds between high yielders, namely Italy, Spain, Sweden and Germany. In particular we address the question of the relative …
Persistent link: https://www.econbiz.de/10012473456
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European Financial Markets After EMU : A First Assessment
Danthine, Jean-Pierre - 2000
This paper reviews the first evidence on the impact of European Monetary Union on European capital markets, one year after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has either changed the European financial landscape already...
Persistent link: https://www.econbiz.de/10012470687
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The Immediate Challenges for the European Central Bank
Dornbusch, Rudiger - 1998
This paper discusses a number of issues that the newly constituted Board of the ECB will face early on. We show how conducting a European monetary policy is very different from living under the protective umbrella of the Bundesbank. We discuss voting on the ECB Board and argue that the ability...
Persistent link: https://www.econbiz.de/10012472449
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College Cost and Time to Complete a Degree : Evidence from Tuition Discontinuities
Garibaldi, Pietro - 2007
University in Italy, this paper shows that an increase of 1,000 euro in the continuation tuition reduces the probability of late …
Persistent link: https://www.econbiz.de/10012465793