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Mortgage refinancing and the marginal propensity to consume

Pesce, Simone; Zhang, Liang - 2025

(MPC) and its implications for fiscal policy. Using U.S. household data, we find that MPCs decrease during the year of …

Persistent link: https://www.econbiz.de/10015415613

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

Wealth effect on consumption during the sovereign debt crisis : households heterogeneity in the euro area

Garbinti, Bertrand; Lamarche, Pierre; Lecanu, Charlélie; … - 2020

countries. We estimate the MPC based on a cross-country harmonized household level dataset which combines surveys on wealth …, income and consumption. We use panel regressions and an instrumental variable approach. First, our panel-based MPC estimates …

Persistent link: https://www.econbiz.de/10012139739

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

The heterogeneous effects of household debt relief

Adelino, Manuel; Ferreira, Miguel A.; Oliveira, Miguel - 2025

ones. Our results suggest that observable household characteristics can help in the design of effective debt relief …

Persistent link: https://www.econbiz.de/10015339674

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

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

Inflation and fiscal policy : is there a threshold effect in the fiscal reaction function?

Briodeau, Clémence; Checherita-Westphal, Cristina - 2023

This paper estimates a fiscal reaction function (FRF) framework for euro area countries to test for the impact of changes in inflation on fiscal policy. We find evidence of non-linear short-term effects of HICP inflation on the primary balance after controlling for other relevant factors. Over...

Persistent link: https://www.econbiz.de/10014483665

Monetary-fiscal policy interactions when price stability occasionally takes a back seat

Schmidt, Sebastian - 2024

What are the macroeconomic consequences of a government that is limited in its willingness or ability to raise primary surpluses, and a central bank that accommodates its interest-rate policy to the fiscal conditions? I address this question in a dynamic stochastic sticky-price model with...

Persistent link: https://www.econbiz.de/10014484339

Fiscal policy and growth : do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, … - 2010

mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel … ; panel analysis …

Persistent link: https://www.econbiz.de/10003983667