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Estimating a Fiscal Reaction Function : The Case of Debt Sustainability in Brazil
de Mello, Luiz - 2005
consolidated public sector and different levels of government, and tests for the sustainability of the public debt dynamics. The …
Persistent link: https://www.econbiz.de/10012445160
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Estimating a fiscal reaction function for Nigeria
Ogiji, Patricks; Ajayi, Kayode J. - In: CBN journal of applied statistics 11 (2020) 1, pp. 35-63
the government from 2000:Q1 to 2018:Q4 was adequate in addressing the accumulation of huge debt. The analysis of the … period. The public debt to GDP, which is a major determinant of the primary balance, is negative and significant implying … discourage huge debt accumulation, improve revenue generation capacity and more fundamentally, expenditure switching to improve …
Persistent link: https://www.econbiz.de/10012297481
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The Costs and Benefits of a Job Guarantee : Estimates from a Multi-Country Econometric Model
Fullwiler, Scott - 2012
The Job Guarantee (Mosler 1997-8, Mitchell and Muysken 2008, Wray 1998; hereafter, JG) is a policy proposal designed as an alternative to the neoclassical natural rate of unemployment or non-accelerating inflation rate of unemployment (NAIRU). Whereas that approach presumes that some positive...
Persistent link: https://www.econbiz.de/10013096004
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Beveridgean unemployment gap
Michaillat, Pascal; Saez, Emmanuel - In: Journal of public economics plus 2 (2021), pp. 1-17
This paper develops a sufficient-statistic formula for the unemployment gap-the difference between the actual unemployment rate and the efficient unemployment rate. While lowering unemployment puts more people into work, it forces firms to post more vacancies and to devote more resources to...
Persistent link: https://www.econbiz.de/10012800439
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Does Corporate Diversification Retrench the Effects of Firm-Level Political Risk?
Hassan, M. Kabir - 2020
This study investigates the effects of firm-level political risk on corporate investments and operating efficiencies for industrially diversified and focused firms. Using firm-level political risk data from Hassan et al.(2019), we document that both political risk and diversification lead to...
Persistent link: https://www.econbiz.de/10012830887
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Indicator-based estimates of the output gap in the euro area
Weiske, Sebastian - 2019
The output gap is a key variable of business cycle analysis and policy. Obtaining reliable estimates for it, is very difficult, though. Most real-time estimates are frequently revised over time. The idea of this paper is to use various indicators, for example from business surveys, that (i) were...
Persistent link: https://www.econbiz.de/10012309596
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Indicator-based estimates of the output gap in the euro area
Weiske, Sebastian - 2018
The output gap is a key variable of business cycle analysis and policy. Obtaining reliable estimates for it, is very difficult, though. Most real-time estimates are frequently revised over time. The idea of this paper is to use various indicators, for example from business surveys, that (i) were...
Persistent link: https://www.econbiz.de/10011928277
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Macroeconomic effects of COVID-19 in a commodity-exporting economy : evidence from Mongolia
Doojav, Gan-Ochir - 2022
This paper examines macroeconomic effects and transmission mechanisms of COVID19 in Mongolia, a developing and commodity-exporting economy, by estimating a Bayesian structural vector autoregression on quarterly data. We find strong cross-border spillover effects of COVID-19. Our estimates...
Persistent link: https://www.econbiz.de/10013350796
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Can debt monetisation be helpful for Chinaís post-Covid recovery? : some empirical evidence
Cao, Ziyi; Ou, Zhirong - 2021 - First draft: October 2020
A measure of the degree of debt monetisation is constructed for its impact on the business cycle to be studied in a … standard VAR model. Debt monetisation is hardly expansionary, as it raises public demand that crowds out almost as much demand … impact of debt monetisation on the business cycle dynamics is trivial, due to the low e¢ ciency of the monetary transmission …
Persistent link: https://www.econbiz.de/10012483860
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The Janus-faced nature of debt : results from a data-driven cointegrated SVAR approach
Guerini, Mattia; Moneta, Alessio; Napoletano, Mauro; … - 2017
impact of debt on economic activity is Janus-faced. Public debt shocks have positive and persistent influence on economic … activity. In contrast, rising private debt has a milder positive impact on GDP, but it fades out over time. The analysis of the … possible transmission mechanisms reveals that public debt crowds-in private consumption and investment. In contrast, mortgage …
Persistent link: https://www.econbiz.de/10011598681