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The Starting Points of New Economic Policy in the Conditions of Recession
Sever, Ivo - 2017
of overcoming the recession and enabling the recovery of production in the Croatian economy. Furthermore, the goal is to … results of the research show that the causes of recession and economic crisis in Croatia only partly refer to the external …). Without such an action it is not possible to stop recession and direct production towards recovery …
Persistent link: https://www.econbiz.de/10012974392
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Lost at sea : the euro needs a Euro Treasury
Bibow, Jörg - 2013
The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is inherently flawed, and recent reforms have failed to turn this dysfunctional regime into a viable one. Our investigation is informed by the "cartalist" critique of traditional "optimum...
Persistent link: https://www.econbiz.de/10010204687
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Structural fiscal balances in Latin America and the Caribbean : new dataset and estimations
Ardanaz, Martín; Corbacho, Ana; Gonzáles, Alberto; … - 2015
In recent years, an increasing number of countries have began anchoring their fiscal policy frameworks in terms of rules that target the cyclically adjusted or structural (as opposed to actual) balance in an effort to overcome problems of procyclicality and fiscal volatility. The logic for doing...
Persistent link: https://www.econbiz.de/10011316667
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Does short-time work save jobs? : a business cycle analysis ; conference paper
Balleer, Almut; Gehrke, Britta; Lechthaler, Wolfgang; … - 2013
This paper analyzes the effects of short-time work (i.e., government subsidized working time reductions) on unemployment and output fluctuations. The central question is whether short-time work saves jobs in recessions. In our baseline scenario the rule based component of short-time work (i.e.,...
Persistent link: https://www.econbiz.de/10010344643
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Fiscal space and increasing fiscal resilience
Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - 2019
The paper compares fiscal cyclicality across regions and countries from 1960 to 2016. It finds that more than half of 170 countries analyzed in seven regions had, in more recent years, limited fiscal space, and that their fiscal policy was either cyclical or procyclical. This was particularly...
Persistent link: https://www.econbiz.de/10012020530
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The Greek Great Depression : A General Equilibrium Study of its Drivers
Economides, George; Papageorgiou, Dimitris; … - 2022
This paper provides a quantitative study of the main determinants of the Greek great depression since 2010. We use a medium-scale DSGE model calibrated to the Greek economy between 2000 and 2009 (the euphoria years that followed the adoption of the euro). Then, departing from 2010, our...
Persistent link: https://www.econbiz.de/10014078168
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Time-varying elasticity of cyclically adjusted primary balance and effect of fiscal consolidation on domestic government debt in South Africa
Buthelezi, Eugene Msizi; Nyatanga, Phocenah - In: Economies : open access journal 11 (2023) 5, pp. 1-27
This paper investigates the impact of the time-varying elasticity of the cyclically adjusted primary balance (CAPB) and fiscal consolidation on government debt. The time-varying parameter structural vector autoregression (TVP-VAR) model is used on a time series of data from 1979 to 2022. The...
Persistent link: https://www.econbiz.de/10014319485
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Why do voters support procyclical fiscal policies? : experimental evidence from Latin America
Ardanaz, Martin; Hübscher, Evelyne; Keefer, Philip; … - 2023
Governments often pursue procyclical fiscal policies, even though they reduce voter welfare. Is this because voters actually prefer procyclical policies? The analysis in this paper exploits the first individual-level evidence from an original survey of 12,000 respondents in 8 countries across...
Persistent link: https://www.econbiz.de/10014460802
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COVID-19 and Fiscal Policy in the Euro Area
Busetto, Filippo - 2020
In this chapter we document fiscal policy developments in the main euro area economies over the last two decades and highlight the dramatic changes triggered by the COVID-19 pandemic. We analyse how euro area yield curves respond to COVID-19 related expectations of fiscal expansion. We show how...
Persistent link: https://www.econbiz.de/10012826723
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Regulations as Automatic Stabilizers During COVID-19
Wu, Xi - 2020
This paper shows that regulations are automatic stabilizers for firms in the COVID-19 crisis. During the pandemic, more heavily regulated companies had stock and corporate bond returns that were four to five percent higher than less regulated firms. Prior to the crisis, highly regulated firms...
Persistent link: https://www.econbiz.de/10012831541