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Fiscal policy in the semi-structural model ECB-BASE
Bańkowski, Krzysztof - 2023
a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper … documents the fiscal block of the ECB-BASE, which is a semi-structural model for the euro area developed at the ECB for … links to the quarterly fiscal accounts. Thanks to this design, it is possible to simulate the model with a wide range of …
Persistent link: https://www.econbiz.de/10014278636
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Unexpected consequences of Ricardian expectations
Schlicht, Ekkehart - 2013
this note a surprising finding is established. Assuming that the agents in a standard infinite horizon growth model hold …
Persistent link: https://www.econbiz.de/10010441506
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Unexpected consequences of Ricardian expectations : Erratum
Schlicht, Ekkehard - 2013
Persistent link: https://www.econbiz.de/10010350222
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Options for China in a dollar standard world : a sovereign currency approach
Wray, L. Randall; Liu, Xinhua - 2014
This paper examines the fiscal and monetary policy options available to China as a sovereign currency-issuing nation operating in a dollar standard world. We first summarize a number of issues facing China, including the possibility of slower growth, global imbalances, and a number of domestic...
Persistent link: https://www.econbiz.de/10010228185
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On the Algebraic Calculation of the Fiscal Multiplier
Mehedi Nizam, Ahmed - 2019
Algebraic calculation of the fiscal multiplier ignores the concept of velocity of money. Here, we incorporate the concept of velocity of money in the algebraic derivation of the fiscal multiplier which results into a slightly different representation. Then, we empirically calculate the values of...
Persistent link: https://www.econbiz.de/10012895808
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Fiscal Austerity as the Achilles’ Heel to Socio-Economic Prosperity
Stournaras, Christos F. - 2012
Fiscal consolidation is used as a synonym for austerity much as debt restructuring is used as a euphemism for partial repudiation. Inside the political arena of international economics, the nomenclature of government officials in policy debates adopts colorful terminology, such as healthy public...
Persistent link: https://www.econbiz.de/10013103649
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Is the Fiscal Deficit Misconceived? Proponents of Generational Accounting Overstate Their Case
Gandenberger, Otto - 2021
The fiscal deficit is "ill defined"; it is "without theoretical background"; it is "a number in search of a concept". Such judgements are characteristic of a prominent part of the literature on the new measurement concept of generational accounting. This paper argues that such criticism is...
Persistent link: https://www.econbiz.de/10013321085
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Fiscal Policy in the Semi-Structural Model ECB-Base
Bańkowski, Krzysztof - 2023
a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper … documents the fiscal block of the ECB-BASE, which is a semi–structural model for the euro area developed at the ECB for … links to the quarterly fiscal accounts. Thanks to this design, it is possible to simulate the model with a wide range of …
Persistent link: https://www.econbiz.de/10014355745
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Monetary policy, trends in real interest rates and depressed demand
Beaudry, Paul; Meh, Césaire Assah - 2021
Over the last few decades, real interest rates have trended downward in many countries. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors such as income inequality. In this paper we explore the claim that these trends may...
Persistent link: https://www.econbiz.de/10012619634
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Short-run fiscal policy : welfare, redistribution, and aggregate effects in the short and long run
Kitao, Sagiri - 2010
-cycle model ; general equilibrium …
Persistent link: https://www.econbiz.de/10008657316