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credit market frictions play a crucial role in the transmission of fiscal policy. -- business cycle ; volatility ; fiscal …
Persistent link: https://www.econbiz.de/10009742088
Persistent link: https://www.econbiz.de/10009571191
credit market frictions play a crucial role in the transmission of fiscal policy. -- Business cycle ; volatility ; fiscal …
Persistent link: https://www.econbiz.de/10009526071
volatility. Both Gali and Fatas & Mihov have provided some evidence which appears to support this proposition. Their evidence is … indicate that the original results are not very robust and the relationship between government size and output volatility is …
Persistent link: https://www.econbiz.de/10014062953
This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012054782
This paper analyzes the contribution of anticipated capital and labor tax shocks to business cycle volatility in an …
Persistent link: https://www.econbiz.de/10009748254
The dynamic and the structure of the economy determine the effects of political economy shocks, fiscal and monetary policy. Based on a DSGE model and stylized facts for small open economy, we evaluate the effects of fiscal consumption tax shocks on the presence of two fiscal rules in the periods...
Persistent link: https://www.econbiz.de/10013122831
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty in order to prevent layoffs and stabilize employment. Many OECD countries have used this policy in the Great Recession, for example. This paper shows that the effects of...
Persistent link: https://www.econbiz.de/10011718992
Short-time work is a labor market policy that subsidizes working time reductions among firms in financial difficulty to prevent layoffs. Many OECD countries have used this policy in the Great Recession. This paper shows that the effects of short-time work are strongly time dependent and...
Persistent link: https://www.econbiz.de/10011845664
procyclicality and fiscal volatility. The logic for doing so is in principle compelling: rule-based fiscal policies allow automatic …
Persistent link: https://www.econbiz.de/10011316667