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South-North convergence from a new perspective

Hübler, Michael - 2013

-North convergence based on North-South technology diffusion through intermediate goods trade is guaranteed if the knowledge effect … dominates the productivity effect. Moreover, a larger Southern market expands the area of convergence and can prevent divergence … convergence is desirable for both, the South and the North. …

Persistent link: https://www.econbiz.de/10010204037

How does EU cohesion policy work? : evaluating its effects on fiscal outcome variables

Hagen, Tobias; Mohl, Philipp - 2009

The impact of EU Cohesion Policy has mainly been evaluated with regard to its growth effects. We extend the perspective by investigating the impact of EU Cohesion Policy on public investments and budget deficits in order to learn more about the channels through which this policy field works....

Persistent link: https://www.econbiz.de/10003881346

An integrated assessment model with endogenous growth

Hübler, Michael; Baumstark, Lavinia; Leimbach, Marian; … - 2012

We introduce endogenous directed technical change into numerical integrated climate and development policy assessment. We distinguish expenditures on innovation (R&D) and imitation (international technology spillovers) and consider the role of capital investment in creating and implementing new...

Persistent link: https://www.econbiz.de/10009656602

Fiscal policy and growth with complementarities and constraints on government

Misch, Florian; Gemmell, Norman; Kneller, Richard - 2011

This paper considers the implications of complementarity in private production and constraints on government for optimal fiscal policy. Using an endogenous growth model with public finance, it derives three central results which modify findings in the literature under standard assumptions....

Persistent link: https://www.econbiz.de/10008901822

Growth and welfare maximization in models of public finance and endogenous growth

Misch, Florian; Gemmell, Norman; Kneller, Richard - 2011

This paper evaluates the trade-off between growth and welfare maximization from two perspectives. Firstly, it synthesizes and extends endogenous growth models with public finance to compare growth and welfare maximizing tax rates. Secondly, it examines the distinct model outcomes in terms of...

Persistent link: https://www.econbiz.de/10009159871

Sovereign bond market reactions to fiscal rules and no-bailout clauses : the Swiss experience

Feld, Lars P.; Kalb, Alexander; Moessinger, Marc-Daniel; … - 2013

We investigate the political determinants of risk premiums which sub-national governments in Switzerland have to pay for their sovereign bond emissions. For this purpose we analyse financial market data from 288 tradable cantonal bonds in the period from 1981 to 2007. Our main focus is on two...

Persistent link: https://www.econbiz.de/10009746353

Using surveys of business perceptions as a guide to growth-enhancing fiscal reforms

Misch, Florian; Gemmell, Norman; Kneller, Richard - 2013

This paper assesses the merits of using surveys of business perceptions of growth constraints as a guide to growth-enhancing fiscal policy reforms. Using endogenous growth models in which the government levies an income tax to provide public inputs to the production of private firms, the paper...

Persistent link: https://www.econbiz.de/10009721399

Sovereign risk premia : the link between fiscal rules and stability culture

Heinemann, Friedrich; Osterloh, Steffen; Kalb, Alexander - 2013 - This version: March 2013

There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...

Persistent link: https://www.econbiz.de/10009721879

Cyclically neutral generational accounting

Bonin, Holger; Patxot, Concepció; Souto, Guadalupe - 2013

This paper introduces a methodological innovation into Generational Accounting. By incorporating cyclically-adjusted balances into the forward-looking budget projections underlying the concept we isolate pure policy effects, which render comparisons of the fiscal sustainability indicators...

Persistent link: https://www.econbiz.de/10010204041

The long-run effect of fiscal consolidation on economic growth : evidence from quantitative case studies

Kleis, Mischa; Moessinger, Marc-Daniel - 2016

We contribute to the literature on the long-run effect of fiscal consolidation on economic growth by applying a novel method for quantitative case studies. Relying on a qualitative (narrative) definition of fiscal consolidations based on an examination of historical policy documents and using...

Persistent link: https://www.econbiz.de/10011490895