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An Asymmetric Model on Seigniorage and the Dynamics of Net Foreign Assets
Dettmann, Georg - Dipartimento di Scienze Economiche, Facoltà di Economia - 2013
investigate on the mechanisms that allow the US to do so, this paper sets up a two country DGE model with asymmetric liquidity … Seigniorage and valuation effects to be able to run a continuous current account deficit. These mechanisms work in favour of their …
Persistent link: https://www.econbiz.de/10010700762
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Fiscal devaluation scenarios: a quantitative assessment for the Italian economy
Annicchiarico, Barbara; Dio, Fabio Di; Felici, Francesco - Dipartimento del Tesoro, Ministero dell'Economia e … - 2014
We study the potential impact of fiscal devaluation policies on the Italian economy using IGEM, a dynamic general equilibrium model for the Italian economy developed at the Department of Treasury of the Italian Ministry of the Economy and Finance. The simulations show that fiscal devaluation...
Persistent link: https://www.econbiz.de/10010850517
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Assessing Policy Reforms for Italy Using ITEM and QUEST III
Annicchiarico, Barbara; Dio, Fabio Di; Felici, Francesco; … - In: Rivista di Politica Economica (2014) 3, pp. 211-244
This paper assesses the implications of policy reforms for the Italian economy by jointly using the Italian Treasury Econometric Model (ITEM) and QUEST III, the endogenous growth dynamic general equilibrium model of the European Commission in the version calibrated for Italy. The structural...
Persistent link: https://www.econbiz.de/10010942349
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Fiscal Devaluation Scenarios: A Quantitative Assessment for the Italian Economy
Annicchiarico, Barbara; Dio, Fabio Di; Felici, Francesco - Centro di Studi Internazionali Sull'Economia e la … - 2014
We study the potential impact of fiscal devaluation policies on the Italian economy using IGEM, a dynamic general equilibrium model for the Italian economy developed at the Department of Treasury of the Italian Ministry of the Economy and Finance. The simulations show that fiscal devaluation...
Persistent link: https://www.econbiz.de/10010929167
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Parameter Uncertainty and the Central Bank's Objective Function
Williams, John C.; Levin, Andrew T. - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005706797
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Assessing policy reforms for Italy using ITEM and QUESTIII
Annicchiarico, Barbara; Dio, Fabio Di; Felici, Francesco; … - Centro di Studi Internazionali Sull'Economia e la … - 2013
Treasury Econometric Model (ITEM) and QUEST III, the endogenous growth dynamic general equilibrium (DGE) model of the European …, highlighting some policy insights that DGE models can provide compared to those of traditional macro-econometric models. Their …
Persistent link: https://www.econbiz.de/10010659569
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Untangling the Relationship Between Income and Subjective Well-Being: The Role of Perceived Income Adequacy and Borrowing Constraints
Pereira, Maria; Coelho, Filipe - In: Journal of Happiness Studies 14 (2013) 3, pp. 985-1005
This paper aims to untangle the relationship between income and subjective well-being. To accomplish this, we investigate how subjective well-being is affected by two financially-related determinants that have not been investigated before or scarcely so. Specifically, we research the impact on...
Persistent link: https://www.econbiz.de/10010848339
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Leveraged Borrowing and Boom-Bust Cycles
Pintus, Patrick; Wen, Yi - In: Review of Economic Dynamics 16 (2013) 4, pp. 617-633
Investment booms and asset "bubbles" are often the consequence of heavily leveraged borrowing and speculations of persistent growth in asset demand. We show theoretically that dynamic interactions between elastic credit supply (due to leveraged borrowing) and persistent credit demand (due to...
Persistent link: https://www.econbiz.de/10010856604
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Public Spending Shocks in a Liquidity Constrained Economy
Ragot, Xavier; Challe, Edouard - Université Paris-Dauphine (Paris IX) - 2008
This paper analyses the effects of transitory increases in government spending when public debt is used as liquidity by the private sector. Aggregate shocks are introduced into an incomplete-market economy where heterogenous, infitely-lived households face occasionally binding borrowing...
Persistent link: https://www.econbiz.de/10010861556
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Housing prices and the high Chinese saving rate puzzle
Wang, Xin; Wen, Yi - In: China Economic Review 23 (2012) 2, pp. 265-283
China's over 25% aggregate household saving rate is one of the highest in the world. One popular view attributes the high saving rate to fast-rising housing prices in China. However, cross-sectional data do not show a significant relationship between housing prices and household saving rates....
Persistent link: https://www.econbiz.de/10010875340