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Slower Growth and Vulnerability to Recession : Updating China's Global Impact
Tyers, Rod - 2015
its consumption expands faster than its GDP and so the global implications are qualitatively different. Moreover, higher … recession are here quantified using a global macro model with national portfolio rebalancing. The transition to consumption …
Persistent link: https://www.econbiz.de/10013017884
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Great recession, slow recovery and muted fiscal policies in the US
Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016
This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the...
Persistent link: https://www.econbiz.de/10011434680
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In search of the Euro area fiscal stance
Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016
the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a …
Persistent link: https://www.econbiz.de/10011529025
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Cyclical drivers of euro area consumption : what can we learn from durable goods?
Casalis, André; Krustev, Georgi - 2020
We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …
Persistent link: https://www.econbiz.de/10012197836
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No quick recovery in sight, with coronavirus risks looming large : economic analysis and outlook for Central, East and Southeast Europe : wiiw forecast report autumn 2020
Astrov, Vasily; Bykova, Alexandra; Grieveson, Richard; … - Wiener Institut für Internationale Wirtschaftsvergleiche - 2020
Persistent link: https://www.econbiz.de/10012318373
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Recovery beating expectations : economic analysis and outlook for Central, East and Southeast Europe : wiiw forecast report autumn 2021
Astrov, Vasily; Bykova, Alexandra; Grieveson, Richard; … - Wiener Institut für Internationale Wirtschaftsvergleiche - 2021
The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...
Persistent link: https://www.econbiz.de/10012663107
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The dynamics of balanced expansion in monetary economies with sovereign debt
Böhm, Volker - 2018 - Version: September 26, 2018
The paper examines the role of fiscal and monetary policy on the dynamics of monetary expansion in a macroeconomy. Its microeconomic structure defined by producers with neoclassical production functions, heterogeneous OLG consumers, and a stationary fiscal and monetary policy induces a...
Persistent link: https://www.econbiz.de/10011903801
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Risk Sharing in a World Economy with Uncertainty Shocks
Kollmann, Robert - 2017
This paper analyzes the effects of output volatility shocks and of risk appetite shocks on the dynamics of consumption … in a country's output volatility triggers a wealth transfer to that country, in equilibrium; this raises its consumption … the high empirical volatility of the real exchange rate and the disconnect between relative consumption growth and the …
Persistent link: https://www.econbiz.de/10012970180
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Risk Sharing in a World Economy with Uncertainty Shocks
Kollmann, Robert - 2015
This paper analyzes the effects of output volatility shocks and of risk appetite shocks on the dynamics of consumption … in a country's output volatility triggers a wealth transfer to that country, in equilibrium; this raises its consumption … the high empirical volatility of the real exchange rate and the disconnect between relative consumption growth and the …
Persistent link: https://www.econbiz.de/10013011666
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Precautionary Savings in the Great Recession
Mody, Ashoka - 2012
lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, we find for a …
Persistent link: https://www.econbiz.de/10013110097