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We empirically assess whether a usually expected negative response of private consumption and private investment to a … HP-based; and iii) the Hamilton (2018)-based. We find that: i) increases in government consumption have a Keynesian … effect on real per capita private consumption; ii) there is a positive effect of tax increases on private consumption when …
Persistent link: https://www.econbiz.de/10012504460
different budgetary components. Panel Fixed Effects estimations for private consumption show that, in some cases, when fiscal … government final consumption expenditure, social transfers and taxes. Keynesian effects prevail when fiscal consolidations are …
Persistent link: https://www.econbiz.de/10013050643
-poor and wealth-median in the Periphery; the welfare losses amount to 2.42% and 2.21% of their lifetime consumption in the …
Persistent link: https://www.econbiz.de/10014255769
This paper proposes an alternative stability and growth pact to the one which accompanied the introduction of the euro in January 1999. The latter is part of the third stage of economic and monetary union and, will govern the economic policies of the member countries which have joined the single...
Persistent link: https://www.econbiz.de/10014140127
In the present paper an empirical analysis will point out that austerity measures due to high levels of government debt as a percentage of GDP have (among others) a positive impact on social unrest measured by the number of strikes. The empirical findings of the present paper support the view of...
Persistent link: https://www.econbiz.de/10013118234
In the present paper an empirical analysis will point out that government debt as a percentage of GDP has a negative impact (among others) on banking profitability. This impact will be even worse when this debt as a percentage of GDP exceeds a certain critical level. The sample covers during the...
Persistent link: https://www.econbiz.de/10013118499
In the present paper a discussion will be made about the crucial topic of fostering entrepreneurship as the cornerstone of capitalism (by avoiding too hard austerity measures and helping instead entrepreneurship in various ways) so as to make corporations profitable and ultimately create jobs,...
Persistent link: https://www.econbiz.de/10013096766
Persistent link: https://www.econbiz.de/10013463273
periodon private consumption. Thereby, we also take the specific context of thetransition towards EMU explicitly into …
Persistent link: https://www.econbiz.de/10011400376
The role of fiscal austerity has been questioned for centuries, but a rapidly increasing deficit along with the financial crisis in 2007 / 2008 influenced a renewed debate on the economics of austerity. This paper analyzes the role of austerity versus the role of economic growth. It also...
Persistent link: https://www.econbiz.de/10010520867