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Monetary Policy Rule, Exchange Rate Regime, and Fiscal Policy Cyclicality in a Developing Oil Economy

Algozhina, Aliya - 2016

According to Frankel and Catao (2011), a commodity exporting developing economy is advised to target the output price index rather than consumer price index, as the former monetary policy is automatically countercyclical against the volatile terms of trade shock. This paper constructs a dynamic...

Persistent link: https://www.econbiz.de/10012978673

R* and convergence

Ertl, Martin; Rabitsch, Katrin - 2024

convergence, then growth, say, from technological progress will be lower than we find in the data and, hence, r ∗ will be lower …. Ignoring convergence upwardly biases our estimates of r ∗ . We extend the New Keynesian small open economy model to take … account of convergence. The model is estimated with Bayesian techniques for four emerging economies in Central and Eastern …

Persistent link: https://www.econbiz.de/10014529362

Fiscal Policy During Business Cycles in Developing Countries : The Case of Africa

Leibfritz, Willi - 2013

Fiscal positions of African countries have improved significantly during the past decade. Higher economic growth, better terms of trade, improved donor support notably through debt relief and better control of expenditure contributed to this improvement. But at the same time government revenue...

Persistent link: https://www.econbiz.de/10013072104

Global Climate Change and the Resurgence of Tropical Disease: An Economic Approach

Gollin, Douglas; Zimmermann, Christian - Department of Economics, University of Connecticut - 2010

We study the impact of global climate change on the prevalence of tropical diseases using a heterogeneous agent dynamic general equilibrium model. In our framework, households can take actions (e.g., purchasing bed nets or other goods) that provide partial protection from disease. However, these...

Persistent link: https://www.econbiz.de/10008568683

Optimal factor taxation under wage bargaining: a dynamic perspective

Koskela, Erkki; von Thadden, Leopold - 2002

We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and ii) labour markets are subject to a static...

Persistent link: https://www.econbiz.de/10010295746

Taxation and unemployment: an applied general equilibrium approach for Germany

Boeters, Stefan; Böhringer, Christoph; Feil, Michael - 2002

This paper presents an applied general equilibrium model for Germany. The model integrates specific labour market institutions in an otherwise standard general equilibrium framework. There are sectoral wage negotiations for two skill types of workers between firms and trade unions. The...

Persistent link: https://www.econbiz.de/10010298083

Governmental debt, interest policy, and tax stabilization in a stochastic OLG economy

Hillebrand, Marten - 2011

The paper analyzes the sustainability of governmental debt and its welfare properties in an overlapping generations economy with stochastic production and capital accumulation. In the absence of taxation, equilibria with positive debt generically converge to debtless eauilibria are typically...

Persistent link: https://www.econbiz.de/10010303928

Impacts of universal health coverage: A micro-founded macroeconomic perspective

Huang, Xianguo; Yoshino, Naoyuki - 2015

This paper studies the impact of tax-financed universal health coverage schemes on macroeconomic aspects of labor supply, asset holding, inequality, and welfare, while taking into account features common to developing economies, such as informal employment and tax avoidance, by constructing a...

Persistent link: https://www.econbiz.de/10011311028

On the Analytics of the Dynamic Laffer Curve

Agell, Jonas; Persson, Mats - 2000

In this paper, we analyze government budget balance within a simple model of endogenous growth. For the AK model, simple analytical conditions for a tax cut to be self-financing can be derived. The critical variable is not the tax rate per se, but the transfer-adjusted tax rate. We discuss some...

Persistent link: https://www.econbiz.de/10010321820

Does the Wage Tax System cause Budget Deficits?

Riedl, Arno; van Winden, Frans A.A.M. - 2000

In this paper we investigate experimentally the functioning of a wage tax financed unemployment benefit system on the development of the budget deficit, unemployment, and some other indicators of economic performance in an international economy. We find support for the hypothesis that...

Persistent link: https://www.econbiz.de/10010324556

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