Narrow search
Showing 1 - 10 of 893
Cover Image
Government, Openness and Finance : Past and Present
Demetriades, Panicos O. - 2010
measured as the value of private loans issued at the Bank of England. For the wider panel of countries and more recent data, we …
Persistent link: https://www.econbiz.de/10012462195
Cover Image
The Fiscal Consequences of Missing an Inflation Target
Andreolli, Michele; Rey, Hélène - National Bureau of Economic Research - 2023
The European Central Bank is unique in setting monetary policy for several sovereign states with heterogeneous debt … on one particular aspect of that nexus, the effect the reliability of the European Central Bank's monetary policy on … Euro Area countries. For comparison we also estimate the fiscal consequences of the Federal Reserve and the Bank of England …
Persistent link: https://www.econbiz.de/10013537713
Cover Image
Large Banks and Small Firm Lending
Bord, Vitaly M. - 2018
We show that since 2007, there was a large and persistent shift in the composition of lenders to small firms. Large banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U.S.. However, healthy banks expanded their operations...
Persistent link: https://www.econbiz.de/10012480836
Cover Image
Does Macro-Pru Leak? Evidence from a UK Policy Experiment
Aiyar, Shekhar - 2012
The regulation of bank capital as a means of smoothing the credit cycle is a central element of forthcoming macro …--on both questions, using a unique dataset. In the UK, regulators have imposed time-varying, bank-specific minimum capital …
Persistent link: https://www.econbiz.de/10012460836
Cover Image
Price Discrimination and Mortgage Choice
Coen, Jamie; Kashyap, Anil K.; Rostom, May - National Bureau of Economic Research - 2023
We characterize the large number of mortgage offers for which people qualify in the United Kingdom. Very few pick the cheapest option, nonetheless the one selected is not usually noticeably more expensive. A few borrowers make very expensive choices. These are most common when the menu they face...
Persistent link: https://www.econbiz.de/10014372409
Cover Image
Political Economics and Public Finance
Persson, Torsten - 1999
Observed fiscal policy varies greatly across time and countries. How can we explain this variation across time and countries? This paper surveys the recent literature that has tried to answer this question. We adopt a unified approach in portraying public policy as the equilibrium outcome of an...
Persistent link: https://www.econbiz.de/10012471701
Cover Image
Generational Accounting and Immigration in the United States
Auerbach, Alan J. - 1999
In recent years, the renewed strength of immigration to the United States has sparked a debate about the economic effects of immigration. A central issue in this debate has been the fiscal impact of immigrants. Most research in this area has adopted a static, cross-section approach in assessing...
Persistent link: https://www.econbiz.de/10012471759
Cover Image
Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis
Jiang, Zhengyang; Lustig, Hanno; Van Nieuwerburgh, Stijn; … - National Bureau of Economic Research - 2022
We use discounted cash flow analysis to measure a country's fiscal capacity. Crucially, the discount rate applied to projected cash flows includes a GDP risk premium. We apply our valuation method to the CBO's projections for the U.S. federal government's deficit between 2022 and 2051 and debt...
Persistent link: https://www.econbiz.de/10013190996
Cover Image
Fiscal Rules and Discretion under Limited Enforcement
Halac, Marina - 2019
We study a fiscal policy model in which the government is present-biased towards public spending. Society chooses a fiscal rule to trade off the benefit of committing the government to not overspend against the benefit of granting it flexibility to react to privately observed shocks to the value...
Persistent link: https://www.econbiz.de/10012479419
Cover Image
Occupy Government : Democracy and the Dynamics of Personnel Decisions and Public Finances
Barbosa, Klenio - 2019
We study the causes and consequences of patronage in Brazilian cities since the country's re-democratization. We test key mechanisms - fiscal rules, accountability, political ideology, and rent-seeking - and estimate the consequences of patronage for public finances. Our data consist of the...
Persistent link: https://www.econbiz.de/10012479457