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Transmission of Government Spending Shocks in the Euro Area: Time Variation and Driving Forces
Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010
, our results indicate that higher government debt-to-GDP ratios have negatively affected long-term multipliers. …
Persistent link: https://www.econbiz.de/10010325831
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Transmission of Government Spending Shocks in the Euro Area : Time Variation and Driving Forces
Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010
, our results indicate that higher government debt-to-GDP ratios have negatively affected long-term multipliers …
Persistent link: https://www.econbiz.de/10014198031
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What are the Effects of Monetary Policy Shocks? Evidence from Dollarized Countries
Willems, Tim - 2010
Traditional ways of analyzing the effects of monetary policy shocks via structural vector autoregressions require the use of unrealistic identifying assumptions: they either do not allow for a response of output and prices on impact of the shock, or they exclude contemporaneous values of these...
Persistent link: https://www.econbiz.de/10010325927
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Fiscal Sustainability, Volatility and Oil Wealth: A Stochastic Analysis of Fiscal Spending Rules
van Wijnbergen, Sweder; Budina, Nina - 2011
distribution of future debt stocks and demonstrate the variance reducing impact of feedback rules for primary deficits in a case …
Persistent link: https://www.econbiz.de/10010325791
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Does the Wage Tax System cause Budget Deficits?
Riedl, Arno; van Winden, Frans A.A.M. - 2000
In this paper we investigate experimentally the functioning of a wage tax financed unemployment benefit system on the development of the budget deficit, unemployment, and some other indicators of economic performance in an international economy. We find support for the hypothesis that...
Persistent link: https://www.econbiz.de/10010324556
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The Effect of Fiscal Rules on Public Investment if Budget Deficits are Politically Motivated
Dur, Robert A.J.; Peletier, Ben D.; Swank, Otto H. - 1997
. As a solution to this problem, economists have proposed to impose a binding debt rule. In this paper we argue that a … binding debt rule does not eliminate the distortions due to strategic behaviour of politicians. Rather, strategic manipulation … shifts from public debt to public investment. As an alternative, we examine the effects of a capital borrowing rule which …
Persistent link: https://www.econbiz.de/10010324588
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Input versus Output Taxation in an Experimental International Economy
Riedl, Arno; van Winden, Frans - 2003
This paper is concerned with a policy oriented macroeconomic experiment involving an 'international' economy with a relatively small 'home' country and a large 'foreign' country. It compares the economic performance of two alternative tax systems as a means to finance unemployment benefits: a...
Persistent link: https://www.econbiz.de/10010324982
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Productive Government Expenditure in Monetary Business Cycle Models
Linnemann, Ludger; Schabert, Andreas - 2005
are partially financed by public debt, unit labor costs fall in response to a fiscal expansion, such that inflation tends …
Persistent link: https://www.econbiz.de/10010325148
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Enhanced Cooperation in an Asymmetric Model of Tax Competition
Vrijburg, Hendrik; de Mooij, Ruud A. - 2010
This paper analyzes enhanced cooperation agreements in corporate taxation in a three country tax competition model where countries differ in size. We characterize equilibrium tax rates and the optimal tax responses due to the formation of an enhanced cooperation agreement. Conditions for...
Persistent link: https://www.econbiz.de/10010325641
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Optimal Government Spending and Unemployment
Linnemann, Ludger; Schabert, Andreas - 2008
We study optimal government spending in a business cycle model with frictional unemployment. The Ramsey optimal policy is contrasted with a reference policy which would be first best in a frictionless economy. Results are: the Ramsey policy i) implies a higher steady state ratio of government...
Persistent link: https://www.econbiz.de/10010325681