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Updating the retirement-consumption puzzle in Italy : who are the most affected?

Marini, Andrea - 2024

composed of essential expenditures. …

Persistent link: https://www.econbiz.de/10014528252

Forecasting the Covid-19 recession and recovery : lessons from the financial crisis

Foroni, Claudia; Marcellino, Massimiliano; Stevanović, … - 2020

We consider simple methods to improve the growth nowcasts and forecasts obtained by mixed frequency MIDAS and UMIDAS models with a variety of indicators during the Covid-19 crisis and recovery period, such as combining forecasts across various specifications for the same model and/or across...

Persistent link: https://www.econbiz.de/10012285550

Quality of public finances and growth

Afonso, António; Ebert, Werner; Schuknecht, Ludger; … - 2005

In this paper we review the linkages between the quality of public finances, that is, the level and composition of public expenditure and its financing via revenue and deficits, and economic growth. We review the various channels through which public finances affect growth and its underlying...

Persistent link: https://www.econbiz.de/10002813412

Housing and the tax system : how large are the distortions in the euro area?

Fatica, Serena; Prammer, Doris - 2017

level under neutral taxation. On average, the tax subsidy translates into an excess consumption of housing services … portfolios. The bulk of the subsidies stems from under-taxation of the return to home equity, while the average contribution of …

Persistent link: https://www.econbiz.de/10011673619

The asymmetric adjustment of global imbalances : myth or fact?

Dausà, Neus; Stracca, Livio - 2023

We revisit the so-called "secular international problem", whereby the adjustment of current account imbalances purportedly falls entirely on the shoulders of deficit countries. We introduce a stylised model to rationalise an asymmetric counter-cyclical policy reaction that is stronger for...

Persistent link: https://www.econbiz.de/10013552616

Fiscal policy and inflation : accounting for non-linearities in government debt

Checherita-Westphal, Cristina; Pesso, Tom - 2024

This paper investigates the interplay between discretionary fiscal policy and inflation in the euro area, emphasizing the role of public debt levels in modulating this relationship. It explores how fiscal expansions or contractions influence inflationary pressures, particularly under varying...

Persistent link: https://www.econbiz.de/10015178622

Global growth on life support? : the contributions of fiscal and monetary policy since the global financial crisis

Baumann, Ursel; Lodge, David; Miescu, Mirela S. - 2019

with a hierarchical structure we capture the variability of GDP response to policy shocks both between and within the … more homogeneous effects on GDP. We then quantify the policy contribution on GDP growth in the last decade by means of a … structural counterfactual analysis based on conditional forecasts. We find that global GDP growth benefited from substantial …

Persistent link: https://www.econbiz.de/10011987115

Managing the sovereign-bank nexus

Dell'Ariccia, Giovanni; Ferreira, Caio; Jenkinson, Nigel; … - 2018

This paper identifies the various channels that give rise to a "sovereign-bank nexus" whereby the financial health of banks and sovereigns is intertwined. We find that banks and sovereigns are linked by three interacting channels: banks hold large amounts of sovereign debt; banks are protected...

Persistent link: https://www.econbiz.de/10011901498

The effect of public investment in Europe : a model-based assessment

Jong, Jasper de; Ferdinandusse, Marien; Funda, Josip; … - 2017

We consider the effect of an increase in public investments on output in Europe against the background of a sharp drop of public investments in a number of EU countries during the crisis and subsequent policy discussions on the need to stimulate public investments. We start with a brief overview...

Persistent link: https://www.econbiz.de/10011637424

Subsidising car purchases in the euro area : any spill-over on production?

Paredes, Joan - 2017

Due to input-output linkages, an industry level shock can widely transmit to the rest of the economy. We identify government policies on the automobile industry, which change final prices and estimate their effect on sales and production. An example could be the scrappage schemes that many...

Persistent link: https://www.econbiz.de/10011710106