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Using counterfactual microsimulations, Shapley decompositions of time change in inequality and poverty indices make it possible to disentangle and quantify the relative effect of tax-benefit policy changes, compared to all other effects including shifts in the distribution of market income....
Persistent link: https://www.econbiz.de/10009725006
A popular narrative amongst European policymakers is that Eurozone members facing problems in the bond market are paying the price for past budgetary excess. Fiscal consolidation in these countries is seen as the principal remedy for the crisis. It is clear however that Ireland's problems derive...
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This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the...
Persistent link: https://www.econbiz.de/10011434680
Education yields substantial non-monetary benefits, but the size of these gains is still debated. Previous studies, for example, report contradictory effects of education and compulsory schooling on mortality – ranging from zero to large mortality reductions. Using data from 19 compulsory...
Persistent link: https://www.econbiz.de/10011489910
In 2005 the German government implemented the so-called Hartz IV reform, which amounted to a complete overhaul of the … effects of the Hartz IV reform. We calibrate the model economy to German data before the reform and then use the calibrated … model economy to simulate the effects of Hartz IV. In our baseline calibration, we find that the reform has reduced the long …
Persistent link: https://www.econbiz.de/10011490127
We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can reduce costs through either internal investment in build- ing capital or through mergers. The model, which we solve computationally, allows firms to invest or propose mergers...
Persistent link: https://www.econbiz.de/10011490479