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Explaining government revenue windfalls and shortfalls : an analysis for selected EU countries

Morris, Richard; Braz, Cláudia Rodrigues; Castro, … - 2009

In recent years, government revenues in many EU countries experienced significant and erratic changes, which, a priori, could not be fully explained by macroeconomic developments or by discretionary fiscal policy measures. We investigate this issue by estimating "unexplained" changes in tax and...

Persistent link: https://www.econbiz.de/10003969235

Discretionary fiscal policies over the cycle : new evidence based on the ESCB disaggregated approach

Agnello, Luca; Cimadomo, Jacopo - 2009

This paper explores how discretionary fiscal policies on the revenue side of the government budget have reacted to economic fluctuations in European Union countries. For this purpose, it uses data on legislated revenue changes and structural indicators provided twice per year by National Central...

Persistent link: https://www.econbiz.de/10003969250

Learning about fiscal multipliers during the European sovereign debt crisis : evidence from a quasi-natural experiment

Gόrnicka, Lucyna; Kamps, Christophe; Koester, Gerrit; … - 2018

Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...

Persistent link: https://www.econbiz.de/10011856496

Carbon taxes and the geography of fossil lending

Laeven, Luc; Popov, Alexander - 2022

environ-mental regulation and bank supervision. …

Persistent link: https://www.econbiz.de/10013488620

Dynamic carbon emission management

Bustamante, Maria Cecilia; Zucchi, Francesca - 2024

innovation-driven sustainability. Perhaps surprisingly, we show that carbon regulation need not reduce firm value. …

Persistent link: https://www.econbiz.de/10014484214

Pollution havens? : carbon taxes, globalization, and the geography of emissions

Schroeder, Christofer; Stracca, Livio - 2023

This paper studies the impact of national carbon taxes on CO2 emissions. To do so, we run local projections on a cross-country panel dataset, matching measures of emissions of carbon dioxide with information on the introduction of carbon taxes and their implied price. Importantly, we consider...

Persistent link: https://www.econbiz.de/10014481125

Climate-conscious monetary policy

Nakov, Anton; Thomas, Carlos - 2023

We study the implications of climate change and the associated mitigation measures for optimal monetary policy in a canonical New Keynesian model with climate externalities. Provided they are set at their socially optimal level, carbon taxes pose no trade-offs for monetary policy: it is both...

Persistent link: https://www.econbiz.de/10014376057

Foreign direct investment and environmental taxes

De Santis, Roberto A. (contributor); … - 2008

This paper studies the effect of foreign direct investment (FDI) on environmental policy stringency in a two-country model with trade costs, where FDI could be unilateral and bilateral and both governments address local pollution through environmental taxes. We show that FDI does not give rise...

Persistent link: https://www.econbiz.de/10003782672

Corrective regulation with imperfect instruments

Dávila, Eduardo; Walther, Ansgar - 2022

This paper studies optimal second-best corrective regulation, when some agents/activities cannot be perfectly regulated … apply our results to scenarios with unregulated agents/activities, uniform regulation across agents/activities, and costly … regulation. We illustrate our results in applications to financial regulation with environmental externalities, shadow banking …

Persistent link: https://www.econbiz.de/10013367615

Too levered for Pigou : carbon pricing, financial constraints, and leverage regulation

Döttling, Robin; Rola-Janicka, Magdalena - 2023

We analyze jointly optimal carbon pricing and leverage regulation in a model with financial constraints and endogenous … physical climate risks have a substantial impact on collateral values. Additionally introducing leverage regulation can be …

Persistent link: https://www.econbiz.de/10014315161

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