Narrow search
Showing 1 - 10 of 99
Cover Image
How good are the government’s deficit and debt projections and should we care?
Kliesen, Kevin L.; Thornton, Daniel L. - In: Review (2012) Jan, pp. 21-39
Each year, the Congressional Budget Office (CBO) publishes its Budget and Economic Outlook. The CBO’s deficit projections for the current fiscal year (FY) and the next 10 FYs are widely followed because they provide an assessment of the medium-term budget outlook based on current law and a...
Persistent link: https://www.econbiz.de/10009416054
Cover Image
Political Leaders’ Socioeconomic Background and Fiscal Performance in Germany
Hayo, Bernd; Neumeier, Florian - Volkswirtschaft Abteilung, Fachbereich … - 2011
This paper investigates whether the socioeconomic status of the head of government helps explain fiscal performance. Applying sociological research that attributes differences in people’s ways of thinking and acting to their relative standing within society, we test whether the social status...
Persistent link: https://www.econbiz.de/10009369305
Cover Image
Stability Criteria and Convergence: The Role of the System of National Accounts for Fiscal Policy in Europe
Brück, Tilman; Cors, Andreas; Zimmermann, Klaus F.; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002
The standardisation of the European systems of national accounts has progressed significantly in recent years. Some room for interpretation remains in regard to some accounting standards, the periodicity of the data, and the quality of the forecasts of budget deficits. Yet national accounts data...
Persistent link: https://www.econbiz.de/10005069043
Cover Image
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections?
Kliesen, Kevin L.; Thornton, Daniel L. - In: Review (2001) Mar, pp. 11-24
When the government runs a deficit, it can borrow from the public—that is, it can create debt. Conversely, when the government runs a surplus, it can retire that debt. For the past three years, the federal government has recorded budget surpluses, and both the White House Office of Management...
Persistent link: https://www.econbiz.de/10005726131
Cover Image
Livelihood and Care of the Elderly: Determinants of Public Attitudes in Japan
Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2009
of the elderly in Japan. Using four waves of individual-level annual data from the Japanese General Social Survey … increasingly more consistent in their support for a government-based social security system in Japan. …
Persistent link: https://www.econbiz.de/10005685605
Cover Image
Comparing Public Attitudes Towards Providing for the Livelihood of the Elderly in Two aging Sodieties: Germany and Japan
Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2007
Germany and Japan. Applying an ordered logit model to individual data from representative public opinion surveys, it is … inclination towards a government-based pension system in the case of Japan but positively in Germany. Other significant influences … are the pensioner status of the respondents in Japan and their political position in the case of German data. …
Persistent link: https://www.econbiz.de/10005685638
Cover Image
Relative-Price Changes and Demand Factors in the Period of Quantitative Easing in Japan
Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2010
Concentrating on the period of quantitative easing in Japan, this paper reexamines the correlation between the …
Persistent link: https://www.econbiz.de/10008642868
Cover Image
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations?
Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2000
It is widely believed that the Fed controls the funds rate by altering the degree of pressure in the reserve market through open market operations when it changes its target for the federal funds rate. Recently, however, several economists have suggested that open market operations may not be...
Persistent link: https://www.econbiz.de/10005360541
Cover Image
Identifying the liquidity effect: the case of nonborrowed reserves
Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 1996
Despite the fact that efforts to identify it empirically have largely been futile, the liquidity effect plays a central … statistically significant and economically important liquidity effect when nonborrowed reserves is used as the indicator of monetary … a liquidity effect. The paper points out how changes in the demand for borrowed reserves can be used to identify whether …
Persistent link: https://www.econbiz.de/10005360647
Cover Image
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks
Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2009
It is common practice to estimate the response of asset prices to monetary policy actions using market-based measures of monetary policy shocks, such as the federal funds futures rate. I show that because interest rates and market-based measures of monetary policy shocks respond simultaneously...
Persistent link: https://www.econbiz.de/10005077869