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Identifying global and national output and fiscal policy shocks using a GVAR
Chudik, Alexander; Pesaran, M. Hashem; Mohaddes, Kamiar - 2019
due to a fiscal policy shock, as compared to when the rise in output is due to a positive technology shock. The cross ….75 when the rise in output follows from a favorable output shock. …
Persistent link: https://www.econbiz.de/10011956353
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Macroeconomic Effects of Monetary and Fiscal Policy Interactions on Economic Growth Dynamics in Nigeria
Salis, Kolawole; Saibu, Olufemi - 2021
Over the years, the Nigerian economy has been faced with continuous disequilibrium and complexity in policy direction that constitutes a major setback in the growth pattern and macroeconomic instability. In this regard, the paper investigated the effectiveness of fiscal-monetary policy...
Persistent link: https://www.econbiz.de/10013314576
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Seven replies to the critiques of Modern Money Theory
Tymoigne, Éric - 2021
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012795769
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Trend growth and the dynamic effects of government spending
Tesfaselassie, Mewael F. - 2011
The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less inflationary are government spending shocks and vice versa. Moreover, on impact output is higher but exhibits...
Persistent link: https://www.econbiz.de/10008821669
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Government deficit shocks and Okun's coefficient volatility : new insights on the austerity versus growth debate
Binh Thai Pham; Sala, Hector - 2019
This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012054782
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The output effects of tax changes : narrative evidence from Spain
Gil, Paula; Martí, Francisco; Morris, Richard; Pérez, … - In: SERIEs : Journal of the Spanish Economic Association 10 (2019) 1, pp. 1-23
This paper analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and studies how they have...
Persistent link: https://www.econbiz.de/10012033371
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Export boom and economic performance : Bolivia 2004-2015
Liza, Melissa; Morales Anaya, Juan Antonio - 2018
The supercycle of high commodity prices has had profound impacts on the Bolivian economy. We have investigated the relations of commodity prices with the main indicators of macroeconomic performance. We have found significant ties in our statistical analysis. An important question that we...
Persistent link: https://www.econbiz.de/10011816961
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When Does it Pay to Tax? Evidence from State-Dependent Fiscal Multipliers in the Euro Area
Hondroyiannis, G.; Papaoikonomou, Dimitrios - 2022
The impact of fiscal policy on economic growth is investigated within a panel of euro area member states over the period 2004-2011. We mainly consider fiscal impulses identified by (a) changes in the structural primary balance, complemented by evidence from (b) the IMF narrative shocks developed...
Persistent link: https://www.econbiz.de/10014079017
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A contribution to the Reinhart and Rogoff debate: not 90 percent but maybe 30 percent
Lee, Sokbae; Park, Hyunmin; Seo, Myung Hwan; Shin, Youngki - 2014
Using the Reinhart-Rogoff dataset, we find a debt threshold not around 90 percent but around 30 percent above which the median real GDP growth falls abruptly. Our work is the first to formally test for threshold effects in the relationship between public debt and median real GDP growth. The null...
Persistent link: https://www.econbiz.de/10010403485
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Public Debt Dynamics : The Effects of Austerity, Inflation, and Growth Shocks
Cherif, Reda - 2012
austerity shock, the debt ratio initially declines and then returns to its pre-shock path. Yet, the effect is not statistically … significant. In a weak economic environment, the likelihood of a self-defeating austerity shock is much higher than in normal … times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …
Persistent link: https://www.econbiz.de/10013098577