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Parameter heterogeneity, persistence and cross-sectional dependence : new insights on fiscal policy reaction functions for the Euro area
Golinelli, Roberto; Mammi, Irene; Musolesi, Antonio - 2018 - This version: March 31st, 2018
. We find evidence of strong cross-sectional dependence in the panel, and clear support to a valid cointegration …
Persistent link: https://www.econbiz.de/10011813607
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Economic policy and confidence of economic agents : a causal relationship?
Dajčman, Silvo - In: Národohospodářský obzor : časopis věnovaný … 20 (2020) 4, pp. 471-484
future business and consumer confidence and reverse applying the panel Granger causality analysis to two periods in the … history of the euro area: before and after the start of the Great Recession. The results show that Granger causality …, but not in the second subperiod when the causality reversed. The government revenues Granger caused consumer confidence in …
Persistent link: https://www.econbiz.de/10012817847
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Fiscal policy in the EU in the crisis: A model-based approach
Székely, István P.; Roeger, Werner; Veld, Jan in 't - 2011
This paper uses a multi region DSGE model with collateral constrained households and residential investment to examine the effectiveness of fiscal policy stimulus measures in a credit crisis. The paper explores alternative scenarios which differ by the type of budgetary measure, its length, the...
Persistent link: https://www.econbiz.de/10011430871
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Fiscal policy in the EU in the crisis : a model-based approach
Székely, István P.; Röger, Werner; Veld, Jan in 't - 2011
This paper uses a multi region DSGE model with collateral constrained households and residential investment to examine the effectiveness of fiscal policy stimulus measures in a credit crisis. The paper explores alternative scenarios which differ by the type of budgetary measure, its length, the...
Persistent link: https://www.econbiz.de/10008906582
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Survey on New Zealanders' attitudes towards and knowledge of macroeconomic policy issues : documentation of survey methodology and descriptive results
Hayo, Bernd; Neumeier, Florian - 2016 - This version: 19 July 2016
This paper provides background information and basic descriptive statistics for a representative survey of the New Zealand population conducted on our behalf by Research New Zealand in May 2016. The survey addresses important fiscal and monetary policy issues, including: (1) public preferences...
Persistent link: https://www.econbiz.de/10011516900
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Financial Crisis and Public Policy
Gokhale, Jagadeesh - 2009
This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve's actions to prop up the financial sector. It argues that recovery from the financial crisis is likely to be slow with or...
Persistent link: https://www.econbiz.de/10013156705
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What people believe about monetary finance and what we can('t) do about it : evidence from a large-scale, multi-country survey experiment
Hommes, Cars H.; Pinter, Julien; Salle, Isabelle - 2023 - Last updated: July 14, 2023
affects the respondents' views by shifting their inflation and tax expectations associated to these policies. …
Persistent link: https://www.econbiz.de/10014293355
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Debt Targets and Fiscal Consolidation in a two-country HANK model for the Euro Area
Chen, Xiaoshan; Lazarakis, Spyridon; Varthalitis, Petros - 2023
This paper builds a two-country Heterogenous Agents New Keynesian (HANK) model for the Euro Area (EA). The two countries differ in the degree of public indebtedness, i.e., the Periphery has a relatively higher public debt-output ratio vis-à-vis the Core. The model captures some key features of...
Persistent link: https://www.econbiz.de/10014255769
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Fiscal policy transmission in a non-Ricardian model of a monetary union
Bierbrauer, Christoph - 2017 - This Draft: October 29, 2017
We present an analytically tractable two-country New Open Economy Macroeconomics model of a currency union featuring an overlapping gen- erations structure of the Blanchard (1985)-Yaari (1965) type. It enables us to study the transmission and spillover effects of a wider range of fiscal shocks...
Persistent link: https://www.econbiz.de/10011741677
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National fiscal stimulus packages and consolidation strategies in a monetary union
Bierbrauer, Christoph - 2017 - This Draft: October 29, 2017
We present a two-country New Open Economy Macroeconomics model of a currency union featuring an overlapping generations structure of the Blanchard (1985)-Yaari (1965) type as well as monopolistic frictions and staggered adjustment in the goods and labor market. We allow for public investment and...
Persistent link: https://www.econbiz.de/10011752148