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sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly … been caused by commodity price shocks and supply bottlenecks, rather than shortages in the labour market. Inflation … expectations were found to be well-anchored and evidence for a wage-price spiral is scarce. The model predicts a gradual decline in …
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of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …
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We compare Laffer curves for labor and capital taxation for the US, the EU-14 and individual European countries, using a neoclassical growth model featuring "constant Frisch elasticity" (CFE) preferences. We provide new tax rate data. The US can increase tax revenues by 30% by raising labor...
Persistent link: https://www.econbiz.de/10013134023
We seek to understand how Laffer curves differ across countries in the U.S. and the EU-14, thereby providing insights into fiscal limits for government spending and the service of sovereign debt. As an application, we analyze the consequences for the permanent sustainability of current debt...
Persistent link: https://www.econbiz.de/10013105927
We seek to understand how Laffer curves differ across countries in the US and the EU-14, thereby providing insights into fiscal limits for government spending and the service of sovereign debt. As an application, we analyze the consequences for the permanent sustainability of current debt...
Persistent link: https://www.econbiz.de/10013110654
and inflation (short and long-term) on the other hand. Combining both data sets, factor analysis delivers (1) an … international stock market factor, (2) a common European uncertainty factor and (3) an US-inflation uncertainty factor. -- monetary …
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