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Real wage rigidities, fiscal policy, and the stability of EMU in the transition phase
Berthold, Norbert - 1998
Real Wage Rigidities, Fiscal Policy, and the Stability of EMU in the Transition Phase. - EMU will start with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the...
Persistent link: https://www.econbiz.de/10010332987
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Economic impact of obesity in the Republic of Korea
Chung, Wankyo - 2017
reliable data, and estimating obesity-related risk of disability in the Republic of Korea. The obesity rate is higher for males … dependents) in the Republic of Korea. The obesity rate shows a weak U-shaped pattern in relation to income for employed adults … to estimate obesity-related aggregate medical costs in the Republic of Korea, they were 35.8 billion won (in 2010 won …
Persistent link: https://www.econbiz.de/10011852985
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Policy and business cycle shocks: A structural factor model representation of the US economy
Forni, Mario; Gambetti, Luca - In: Journal of Risk and Financial Management 14 (2021) 8, pp. 1-21
-shock specification, we identify, using sign restrictions, two policy shocks, monetary and fiscal, and two non-policy shocks, demand and … supply. We obtain the following results. (ii) Both supply and demand shocks are important sources of fluctuations; supply … prevails for GDP, while demand prevails for employment and inflation. (ii) Monetary and fiscal policy shocks have sizable …
Persistent link: https://www.econbiz.de/10013201055
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Exchange-rate stability causes deterioration of the productive sphere and destabilizes developing economies
Huerta González, Arturo - 2024
For Matías Vernengo and Esteban Pérez Caldentey (2020), the MMT literature overemphasizes the choice of the exchange rate regime and the relevance of a flexible exchange rate regime, as well as the ultimate effect of that choice upon the policy space. In addition, they argue that the role of...
Persistent link: https://www.econbiz.de/10014581843
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German labor market and fiscal reforms 1999 to 2008: Can they be blamed for intra-euro area imbalances?
Gadatsch, Niklas; Stähler, Nikolai; Weigert, Benjamin - 2015
In this paper, we assess the impact of major German structural reforms from 1999 to 2008 on key macroeconomic variables. By many, these reforms, especially the Hartz reforms on the labor market, are considered to be the root of observed imbalances in the Euro Area. Our simulations within a...
Persistent link: https://www.econbiz.de/10011314573
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Household savings, capital investments and public policies: What drives the German current account?
Ruppert, Kilian; Stähler, Nikolai - 2020
In this article, we present a model that can account for the changes in the Germancurrent account balance since the 2000s. Our results suggest that an array of struc-tural tax and labor market reforms (Agenda 2010), population aging and pensionreforms led to an increase in the household savings...
Persistent link: https://www.econbiz.de/10012254875
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German labor market and fiscal reforms 1999 to 2008: Can they be blamed for intra-Euro Area imbalances?
Gadatsch, Niklas; Stähler, Nikolai; Weigert, Benjamin - 2014
In this paper,we assess the impact ofmajor German structural reforms from1999 to 2008 on key macroeconomic variables within a two-country monetary union DSGE model. Bymany, these reforms, especially the Hartz reforms on the labormarket, are considered to be the root of thereafter observed...
Persistent link: https://www.econbiz.de/10010427091
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Fiscal, monetary, and financial interactions in dynamic general equilibrium
Strulik, Holger - 2008
This paper proposes a model that links households and firms, as usual, by markets for factors and goods and, additionally, by a banking sector that channels households' funds to firms and eliminates idiosyncratic risk. In equilibrium, agency costs and tax benefits of corporate debt are...
Persistent link: https://www.econbiz.de/10010265686
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Negative interest rates
Khoury, Sarkis Joseph; Pal, Poorna C. - In: Journal of Risk and Financial Management 13 (2020) 5, pp. 1-12
Negative interest rates are an invention of monetary authorities to show that monetary activism does not have boundaries, i.e., as if there is no such thing as a liquidity trap. Their presence in the financial landscape has redefined the benefits to savers and to investors. Governments can now...
Persistent link: https://www.econbiz.de/10012611319
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Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012818360