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Automatic stabilization and discretionary fiscal policy in the financial crisis

Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - In: IZA Journal of Labor Policy 1 (2012), pp. 1-19

This paper investigates the relationship between the magnitude of automatic stabilizers in the tax and transfer systems of 19 EU countries and the US, and discretionary fiscal stimulus packages passed by these countries during the recent economic crisis. In particular, we ask whether countries...

Persistent link: https://www.econbiz.de/10010331982

Automatic stabilisers and economic crisis: US vs Europe

Dolls, Mathias; Fuest, Clemens; Peichl, Andreas - 2010

This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...

Persistent link: https://www.econbiz.de/10010288285

Die geldpolitische Strategie der Europäischen Zentralbank: Was geändert werden sollte und was nicht

Feld, Lars P.; Fuest, Clemens; Haucap, Justus; … - 2021

Die Europäische Zentralbank (EZB) führt derzeit eine Überprüfung ihrer geldpolitischen Strategie durch. Die letzte … Mitgliedstaaten. Es sollte vermieden werden, dass die Geldpolitik fiskalisch dominiert wird. Das hierarchische Mandat der EZB mit … EZB stärker an quantitativen Referenzwerten (Zinsregeln, Geldmengenwachstum) orientieren. Die Transparenz der Geldpolitik …

Persistent link: https://www.econbiz.de/10012488262

The monetary policy strategy of the European Central Bank: Review and recommendations

Feld, Lars P.; Fuest, Clemens; Haucap, Justus; … - 2021

The European Central Bank (ECB) is currently conducting a review of its monetary policy strategy. The last formal review took place in 2003. Now the focus is on the extent to which this strategy has contributed in recent years to fulfill the mandate set out in the Treaties of the European Union...

Persistent link: https://www.econbiz.de/10012598212