Showing 1 - 8 of 8
We briefly review the theoretical and empirical consequences of discretionary fiscal policy changes, after which we provide our own estimates for the EU countries. A fiscal expansion raises output and consumption and reduces the trade balance. Moreover, the stimulating effect of higher...
Persistent link: https://www.econbiz.de/10003937804
Persistent link: https://www.econbiz.de/10003996925
Persistent link: https://www.econbiz.de/10008656205
Persistent link: https://www.econbiz.de/10010229546
Persistent link: https://www.econbiz.de/10013167844
Persistent link: https://www.econbiz.de/10009129880
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10011904377
We explore the implications of monetary unification for real interest rates and (relative) public debt levels. The adoption of a common monetary policy renders the risk-return characteristics of the participating countries more similar, so that the substitutability of their public debt increases...
Persistent link: https://www.econbiz.de/10002592058