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Sovereign Risk and Macroeconomic Fluctuations in an Emerging Market Economy
Kirchner, Markus; Rieth, Malte - 2010
This paper assesses the role of sovereign risk in explaining macroeconomic fluctuations in Turkey. We estimate two versions of a simple New Keynesian small open economy model on quarterly data for the period 1994Q3-2008Q2: A basic version and a version augmented by a default premium on...
Persistent link: https://www.econbiz.de/10010325979
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Sovereign risk and macroeconomic fluctuations in an emerging market economy
Kirchner, Markus; Rieth, Malte - 2010
This paper assesses the role of sovereign risk in explaining macroeconomic fluctuations in Turkey. We estimate two versions of a simple New Keynesian small open economy model on quarterly data for the period 1994Q3-2008Q2: A basic version and a version augmented by a default premium on...
Persistent link: https://www.econbiz.de/10011382024
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Fiscal Compact and Debt Consolidation Dynamics
Brugnolini, Luca - 2018
We analyse the macroeconomic effects of a debt consolidation policy in the Euro Area mimicking the Fiscal Compact Rule (FCR). The rule requires the signatory states to target a debt-to-GDP ratio below 60%. Within the context of Dynamic Stochastic General Equilibrium models (DSGE), we augment a...
Persistent link: https://www.econbiz.de/10012917144
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Post-Crisis Recovery : When Does Increased Fiscal Discipline Work?
Mitra, Pritha - 2006
Emerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign creditors and initially recommended disciplined fiscal policy during the height of...
Persistent link: https://www.econbiz.de/10012779170
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Fiscal Volatility Shocks and Economic Activity
Fernández-Villaverde, Jesús; Guerrón-Quintana, Pablo; … - 2011
We study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable uncertainty about...
Persistent link: https://www.econbiz.de/10014178835
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A New Approach for the General Equilibrium Analysis. Increase of the Production and Employment with Monetary and Fiscal Boosts
Nomidis, Dimitrios - 2014
The purpose of this paper is to present an approach with regard to the dynamic process of the general equilibrium during the business cycle fluctuations following monetary and fiscal interventions, which, I think, could contribute to bridging the differences between the different schools of...
Persistent link: https://www.econbiz.de/10013053400
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Sovereign Risk and Macroeconomic Fluctuations in an Emerging Market Economy
Kirchner, Markus - 2010
This paper assesses the role of sovereign risk in explaining macroeconomic fluctuations in Turkey. We estimate two versions of a simple New Keynesian small open economy model on quarterly data for the period 1994Q3-2008Q2: A basic version and a version augmented by a default premium on...
Persistent link: https://www.econbiz.de/10013137196
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The new consensus from a traditional Keynesian and post-Keynesian perspective : a worthwhile foundation for research or just a waste of time?
Dullien, Sebastian - 2009
This paper examines in how far the DSGE model which is often dubbed the New Keynesian Consensus is compatibel with a Post-Keynesian or traditional Keynesian understanding of the economy. It is argued that while at first sight DSGE models seem to include a lot of traditional Keynesian or even...
Persistent link: https://www.econbiz.de/10009304904
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The Economic and Environmental Effects of Green Financial Policy in China : A DSGE Approach
Pan, Dongyang - 2020
可以發現，中國版本的這篇文章："http://ssrn.com/abstract=3484817" http://ssrn.com/abstract=3484817.This paper explores the potential economic and environmental effects of the newly introduced “green financial policies” in China by an adjusted Dynamic Stochastic General...
Persistent link: https://www.econbiz.de/10012846810
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Anticipated and unanticipated fiscal shocks in an estimated DSGE model for the Brazilian economy
Cavalcanti, Marco Antônio Freitas de Hollanda; Vereda, … - 2023
a relatively detailed public sector, which allows us to investigate the effects of anticipation for a much wider array … such as public investment, employment, and transfers. Instead of fixing in advance the degree of anticipation of fiscal … anticipation varies between only one and two quarters, depending on the fiscal instrument. …
Persistent link: https://www.econbiz.de/10014428792