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What is the Risk of European Sovereign Debt Defaults? Fiscal Space, CDS Spreads and Market Pricing of Risk

Aizenman, Joshua - 2011

We estimate the pricing of sovereign risk for sixty countries based on fiscal space (debt/tax; deficits/tax) and other … and economically important determinants of market-based sovereign risk. Although the explanatory power of fiscal space … emergence of TED spread as a key pricing factor. However, risk-pricing of the South-West Eurozone Periphery countries is not …

Persistent link: https://www.econbiz.de/10012461251

Fiscal Stimulus and Commercial Bank Lending Under COVID-19

Aizenman, Joshua; Jinjarak, Yothin; Spiegel, Mark - National Bureau of Economic Research - 2022

We investigate the implications of extra-normal government spending under the COVID-19 pandemic for commercial bank lending growth between 2019Q4 and 2020Q4 in a large sample of over 3000 banks from 71 countries. We control for pre-pandemic structural factors, bank characteristics and government...

Persistent link: https://www.econbiz.de/10013172181

Tax Policies for Low-Carbon Technologies

Metcalf, Gilbert E. - 2009

I conclude with some observations on the use of price-based instruments. In particular I discuss how a carbon tax could be designed to achieve environmental goals of emission caps over a control period

Persistent link: https://www.econbiz.de/10012463596

Analysis of U.S. Greenhouse Gas Tax Proposals

Metcalf, Gilbert E. - 2008

The U.S. Congress is considering a set of bills designed to limit the nation's greenhouse gas (GHG) emissions. This paper complements the analysis by Paltsev et al. (2007) of cap-and-trade bills and applies the MIT Emissions Prediction and Policy Analysis (EPPA) model to carry out an analysis of...

Persistent link: https://www.econbiz.de/10012464666

Using Tax Expenditures to Achieve Energy Policy Goals

Metcalf, Gilbert E. - 2008

Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six. Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures...

Persistent link: https://www.econbiz.de/10012464894

International Evidence of Strengthening Taxes and Spending For Sustainable Development

Aizenman, Joshua; Jinjarak, Yothin; Hien Nguyen; Park, … - National Bureau of Economic Research - 2021

We trace the linkages between the episodes of fiscal expansion and consolidation in 72 advanced and emerging and developing economies. The findings suggest that fiscal expansions are positively associated with economic growth, which in turn is positively linked with better sustainable...

Persistent link: https://www.econbiz.de/10012794621

Behavioral and Distributional Effects of Environmental Policy Introduction

Carraro, Carlo - 2000

Persistent link: https://www.econbiz.de/10012471119

A Tax on Output of the Polluting Industry is Not a Tax on Pollution : The Importance of Hitting the Target

Fullerton, Don - 1999

We explore the effects of environmental taxes that imprecisely target pollution. A review of actual policies indicates few (if any) examples of a true tax on pollution. More typically, environmental taxes target an input or output that is correlated with pollution. We construct a simple...

Persistent link: https://www.econbiz.de/10012471531

A Two Covid-19 Years Quartile Comparison of Official with Excess Mortality : Voice and Accountability and the Impact of Vaccines

Aizenman, Joshua - 2022

We evaluate the quartile ranking of countries during the Covid-19 pandemic using both official (i.e., confirmed) and excess mortality data. Contrasting countries' rankings using these two data sources reveal sharp and systematic differences. While higher GDP per capita is associated with a worse...

Persistent link: https://www.econbiz.de/10012938747

The Political Economy of the COVID-19 Fiscal Stimulus Packages of 2020

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - National Bureau of Economic Research - 2021

Almost all countries announced fiscal support programs once COVID-19 hit. However, there was significant diversity in the magnitude and composition of these fiscal stimulus programs. These differences were determined by myriad political, financial, social, and economic factors - these factors...

Persistent link: https://www.econbiz.de/10012660038