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Union (EMU) at large. The health crisis worldwide and the precautions against Covid-19 rapidly induced a demand and supply … recession simultaneously. The Covid-19 crisis was marked as the worst crisis since the Great Depression of the 1930s. It hit the … EMU in an unfortunate moment, when economic growth was already low before the Covid-19 crisis started. The effects of the …
Persistent link: https://www.econbiz.de/10013269485
This paper evaluates the temporary VAT reduction invoked by the German government over the third and fourth quarter of 2020 as part of the COVID-19 stimulus package. There is considerable controversy. Critics argue that VAT reductions are ineffective in the presence of lockdown measures in place...
Persistent link: https://www.econbiz.de/10013341661
ausschließlichen Konzentration auf die Geldpolitik als Stabilisierungsinstrument, wegen seiner mangelhaften Berücksichtigung der Rolle … von Löhnen und der Lohnpolitik und wegen seiner kompletten Vernachlässigung der stabilisierenden Rolle der Finanzpolitik …. Aus Post-Keynesianischer Sicht wird gezeigt, dass die Finanzpolitik eine wichtige Rolle für die makroökonomische …
Persistent link: https://www.econbiz.de/10003744540
crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances … had remained unchecked prior to the crisis. As those imbalances eventually imploded, member states were found to be … unemployment continue to plague euro crisis countries. Its huge current account surplus highlights that the euro currency union …
Persistent link: https://www.econbiz.de/10011894027
On 3 June 2020, the German government announced a EUR 130 billion fiscal stimulus package to stimulate market demand and jumpstart the economy in the wake of the COVID-19 pandemic lockdown in the spring of 2020. The most prominent measure of this package is an unconventional fiscal policy in the...
Persistent link: https://www.econbiz.de/10012388013
Persistent link: https://www.econbiz.de/10008990139
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …
Persistent link: https://www.econbiz.de/10011308548
I study the spill-over effects of legislated discretionary tax changes in the United States, Germany, and the United Kingdom to 11 Eurozone countries for the period 1980Q1-2018Q4 employing Local Projections (Jordà, 2005). In general, I find spillovers from US tax legislation to have the...
Persistent link: https://www.econbiz.de/10012649097
We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn's (1998) approach through Schlicht's (2003)...
Persistent link: https://www.econbiz.de/10014313459
Germany and the rest of EMU affected GDP growth and unemployment during the crisis. Not surprisingly, stimulus programmes …
Persistent link: https://www.econbiz.de/10010486694