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Consumption Patterns of Indebted Households : Unravelling the Relevance of Fiscal Policy
Afonso, António; Sá Fortes Leitão Rodrigues, Eduardo de - 2023
We have investigated the influence of fiscal instruments, notably taxes on income and government spending, on household … consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used … dynamic panel models and the GMM approach for 32 advanced and emerging countries from 1995 to 2019. Our findings suggest that …
Persistent link: https://www.econbiz.de/10014346252
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Monetary policy surprise shocks under different fiscal regimes : a panel analysis of the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
fiscal stances in the period 2001Q4-2021Q4 for a panel of the 19 countries of the Euro Area. Applying local projection …
Persistent link: https://www.econbiz.de/10014336399
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How do income and the debt position of households propagate fiscal stimulus into consumption?
Rüth, Sebastian; Simon, Camilla - In: Journal of economic dynamics & control 143 (2022), pp. 1-14
Persistent link: https://www.econbiz.de/10013542995
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(Non-)Keynesian effects of fiscal austerity : new evidence from a large sample
Afonso, António; Alves, José; Huart, Florence - 2021
We empirically assess whether a usually expected negative response of private consumption and private investment to a fiscal consolidation is reversed. We focus on a large sample of 174 countries between 1970 and 2018. We also employ three alternative measures of the Cyclically Adjusted Primary...
Persistent link: https://www.econbiz.de/10012504460
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Consumption Patterns of Indebted Households: Unravelling the Relevance of Fiscal Policy
Afonso, António; de Sá Fortes Leitão Rodrigues, Eduardo - 2023
We have investigated the influence of fiscal instruments, notably taxes on income and government spending, on household … consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used … dynamic panel models and the GMM approach for 32 advanced and emerging countries from 1995 to 2019. Our findings suggest that …
Persistent link: https://www.econbiz.de/10014377539
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Household Debt to Household Income vs Government Debt to GDP : An Empirical Analysis with Panel Data in Europe
Georgiou, Miltiades N. - 2011
government debt to GDP and the household debt to total household income. The estimation of the model is made feasible through the …In the present paper it will be pointed out with a panel data econometric model that there is a trade-off between …
Persistent link: https://www.econbiz.de/10013118677
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The effects of monetary policy surprises and fiscal sustainability regimes in the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn's (1998) approach through Schlicht's (2003)...
Persistent link: https://www.econbiz.de/10014313459
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Low interest rates and the distribution of household debt
Emiris, Marina; Koulischer, François - 2021
population. In a model of household borrowing with credit constraints and endogenous house prices, we show that less constrained … level data on the universe of household credit in Belgium to document a shift in the distribution of debt over age, with … constrained, do not contribute to the rise in household debt. To identify the elasticity of household debt to the interest rate …
Persistent link: https://www.econbiz.de/10012520376
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Low interest rates and the distribution of household debt
Emiris, Marina; Koulischer, François - 2021
population. In a model of household borrowing with credit constraints and endogenous house prices, we show that less constrained … level data on the universe of household credit in Belgium to document a shift in the distribution of debt over age, with … constrained, do not contribute to the rise in household debt. To identify the elasticity of household debt to the interest rate …
Persistent link: https://www.econbiz.de/10012498390
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Households' balance sheets and the effect of fiscal policy
Andrés, Javier; Boscá, José E.; Ferri, Javier; … - 2017
Using the Panel Survey of Income Dynamics, we identify six household types as a function of their balance sheet … negatively correlated. For calibrations based on the empirical household weights after the Great Recession, our model delivers …
Persistent link: https://www.econbiz.de/10011927002