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Monetary/fiscal policy regimes in post-war Europe
Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023
In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three distinct monetary/fiscal regimes in France and Italy: a...
Persistent link: https://www.econbiz.de/10014482924
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Household saving and fiscal policy : evidence for the euro area from a thick modelling perspective
Checherita-Westphal, Cristina; Stecher, Marcel - 2021
panel setting. We find that fiscal expansions are associated with an increase in household saving rate in the euro area …We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999 … and estimation uncertainty and no robust evidence for total private saving offset. Our results for the euro area are …
Persistent link: https://www.econbiz.de/10012745340
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Fiscal activism in the euro area and in other advanced economies : new evidence
Attinasi, Maria Grazia; Palazzo, Alessandra Anna; … - 2019
advanced economies during the past 20 years. This is done by estimating fiscal reaction functions using dynamic panel …
Persistent link: https://www.econbiz.de/10012135940
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Check in the mail or more in the paycheck: does the effectiveness of fiscal stimulus depend on how it is delivered?
Sahm, Claudia R.; Shapiro, Matthew D.; Slemrod, Joel - 2011
Recent fiscal policies have aimed to stimulate household spending. In 2008, most households received one-time economic …
Persistent link: https://www.econbiz.de/10008902400
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The impact of constrained monetary policy on the fiscal multipliers on output and inflation
Bletzinger, Tilman; Lalik, Magdalena - 2017
This paper uses two established DSGE models (QUEST III and Smets-Wouters) to assess the impact of fiscal spending cuts on output and, in particular, also on inflation in the euro area under alternative settings for monetary policy. We compare four different settings of constrained monetary...
Persistent link: https://www.econbiz.de/10011637428
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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
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The macroeconomic effects of fiscal policy
Afonso, António; Sousa, Ricardo M. - 2009
We investigate the macroeconomic effects of fiscal policy using a Bayesian Structural Vector Autoregression approach. We build on a recursive identification scheme, but we: (i) include the feedback from government debt (ii); look at the impact on the composition of output; (iii) assess the...
Persistent link: https://www.econbiz.de/10003826480
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Household spending and fiscal support during theCOVID-19 pandemic : insights from a new consumer survey
Georgarakos, Dimitris; Kenny, Geoff - 2022
This paper introduces the Consumer Expectations Survey (CES), a new online, high frequency panel survey of euro area … cars. Moreover, we show that such beliefs also influence household expectations about own income prospects, future access … Ricardian effects in household behaviour. We find that perceptions affect spending also among households that did not receive …
Persistent link: https://www.econbiz.de/10012818792
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The COVID-19 consumption game-changer : evidence from a large-scale multi-country survey
Hodbod, Alexander; Hommes, Cars H.; Huber, Stefanie J.; … - 2021
Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis has a sustained impact on consumer confidence, preferences, and, hence, spending....
Persistent link: https://www.econbiz.de/10012643267
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Assessing long-term fiscal developments : a new approach
Afonso, António; Agnello, Luca; Furceri, Davide - 2009
We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate...
Persistent link: https://www.econbiz.de/10003832368