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Using a temporary indirect tax cut as a fiscal stimulus : evidence from the UK
Crossley, Thomas F.; Low, Hamish; Sleeman, Cath - 2014
This paper evaluates a novel form of fiscal stimulus: a temporary cut in the rate of Value Added Tax (VAT). In December 2008, the UK cut the standard rate of VAT by 2.5 percentage points for 13 months in an effort to stimulate spending. We estimate the effect of the cut on prices and spending...
Persistent link: https://www.econbiz.de/10010381367
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Fiscal stimulus and the extensive margin : conference paper
Lewis, Vivien; Winkler, Roland - 2013
Using VAR analysis on US data, we show that unanticipated fiscal expansions boost private consumption and business … crowding-in of both consumption and entry can be generated only under very specific assumptions. In a static model with full … such that future profits are high enough to generate entry. However, consumption falls for conventional parameter values …
Persistent link: https://www.econbiz.de/10010339394
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Inadequate regional financial safety nets reflect complacency
Azis, Iwan J. - 2013
To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing such...
Persistent link: https://www.econbiz.de/10009714528
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Inadequate Regional Financial Safety Nets Reflect Complacency
Azis, Iwan J. - 2013
To the extent that financial contagion from the United States and the euro area crisis has occurred in Asia, this paper focuses on the importance of strengthening the regional financial safety nets. By conjecturing that efforts to prevent and manage a crisis are the essence of providing such...
Persistent link: https://www.econbiz.de/10013085561
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A temporary VAT cut as unconventional fiscal policy
Bachmann, Ruediger; Born, Benjamin; Goldfayn-Frank, Olga; … - 2021
households' consumption expenditures and their perceived pass-through of the tax change into prices to quantify its effects. The … consumption spending by 34 billion Euros. …
Persistent link: https://www.econbiz.de/10012668478
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Fiscal Policy in a Tractable Liquidity-Constrained Economy
Challe, Edouard - 2010
consumption. The implied higher stock of liquidity also loosens the borrowing constraints faced by firms, thereby raising labour … demand and possibly the real wage. Whether private consumption and wages actually rise or fall ultimately depends on the …
Persistent link: https://www.econbiz.de/10013136914
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Unconventional fiscal policy in HANK
Seidl, Hannah; Seyrich, Fabian - 2021
its transmission mechanism. Consumption taxes and labor taxes replicate the effects of monetary policy through the …
Persistent link: https://www.econbiz.de/10012549562
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Unconventional Fiscal Policy in HANK
Seidl, Hannah; Seyrich, Fabian - 2021
its transmission mechanism. Consumption taxes and labor taxes replicate the effects of monetary policy through the …
Persistent link: https://www.econbiz.de/10013221210
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Spending effects of child-related fiscal transfers
Goldfayn-Frank, Olga; Lewis, Vivien; Wehrhöfer, Nils - 2022
As part of Germany’s fiscal response to the Covid-19 pandemic, parents received three payments totalling e450 per child. Randomization in the payment dates and daily scanner data allow us to identify the effects of these transfers on household spending. We find a significant but small spending...
Persistent link: https://www.econbiz.de/10013268076
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Unconventional Fiscal Policy
D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2021
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation … expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for …
Persistent link: https://www.econbiz.de/10013315437