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The Dark Side of Fiscal Stimulus
Trimborn, Timo; Strulik, Holger - 2011
The output multiplier turns negative before a deficit spending program expires. We show the generality of this unpleasant finding for the standard real business cycle model. We then calibrate an extended model for the US and demonstrate how fiscal stimulus slows down economic recovery from...
Persistent link: https://www.econbiz.de/10010305960
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Fiscal stimulus: A neoclassical perspective
Strulik, Holger; Trimborn, Timo - 2009
Can a large-scale defcit spending program speed up recovery after recession? To answer that question we calibrate a standard neoclassical growth model with US data and assume that an exogenous shock has driven aggregate output far below steady-state level. We calibrate the model such that a...
Persistent link: https://www.econbiz.de/10010270052
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COVID-19 and EU climate targets: Going further with less?
Meles, Tensay Hadush; Ryan, Lisa; Wheatley, Joe - 2020
The COVID-19 crisis comes at a complex moment for European climate policy as it pivots from a 40% 2030 emissions reduction target to a European Green Deal that is in better alignment with long-term Paris Agreement goals. Here, the implications of the dramatic fall in economic output associated...
Persistent link: https://www.econbiz.de/10012389369
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Informal employment: What is missing from national economic recovery plans?
Mhlana, Siviwe; Moussié, Rachel; Roever, Sally; Rogan, … - 2023
Throughout 2021, fiscal stimulus packages were introduced to jump-start the COVID-19 'post-pandemic' economic recovery process. While calls for economic recovery packages that promise to 'build back better' have come from many directions, the under-allocation of recovery resources directed at...
Persistent link: https://www.econbiz.de/10014477516
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The dark side of fiscal stimulus
Strulik, Holger; Trimborn, Timo - 2013
Most of the discussion about fiscal stimulus focuses on the multiplier of government spending on impact. In this paper we shift the focus to the multiplier at the end, i.e. to the period in which a deficit spending program terminates. We show that recent time series analyses as well as economic...
Persistent link: https://www.econbiz.de/10010311674
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The dark side of fiscal stimulus
Strulik, Holger; Trimborn, Timo - 2011
The output multiplier turns negative before a deficit spending program expires. We show the generality of this unpleasant finding for the standard real business cycle model. We then calibrate an extended model for the US and demonstrate how fiscal stimulus slows down economic recovery from...
Persistent link: https://www.econbiz.de/10010288999
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Creditless Recovery in Eastern Europe
Olteanu, Dan - 2014
-2009 output collapse. To this end, we use three variables: credit stock, credit flow and money supply M1. We find that the changes … in the credit flow, as percentage of GDP, are the most distinctly correlated with the GDP rate. During the growth … recovery, the credit flow tends to rise in six of the surveyed countries, although the credit stock declines in some cases. On …
Persistent link: https://www.econbiz.de/10010527425
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An assessment of the impact of legal regulation on financial security in OECD countries
Vaitkus, Robertas; Vasiliauskaite, Asta - In: Journal of Risk and Financial Management 15 (2022) 2, pp. 1-19
The recurrent economic and financial crises expose the state, enterprises, and households to a range of financial risks and negative financial consequences. As a result, governments are seeking the most efficient measures of legal regulation and other measures ensuring financial security in...
Persistent link: https://www.econbiz.de/10013201389
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Why Was Keynes Not Awarded the Nobel Peace Prize After Writing "The Economic Consequences of the Peace"?
Jonung, Lars - 2021
John Maynard Keynes became world famous with the publication of The Economic Consequences of the Peace in 1919, a harsh critique of the Versailles peace treaty. As a consequence, Keynes was nominated by German professors in economics for the Nobel Peace Prize three years in a row, 1922, 1923 and...
Persistent link: https://www.econbiz.de/10013208895
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A Dane in the making of European Monetary Union - A conversation with Niels Thygesen
Maes, Ivo; Péters, Sabine; Thygesen, Niels - 2020
Niels Thygesen (born 1934) played for nearly five decades an influential role in the process of economic and monetary integration in Europe. He is especially known as a member of the Delors Committee and as the first Chair of the European Fiscal Board. As part of a research program on collecting...
Persistent link: https://www.econbiz.de/10012606456