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The uncertainty created by the COVID-19 has reinvigorated old debates about the role of the state, highlighting the flexibility of private businesses and civil society and illustrating weaknesses in state planning. The UK healthcare system has struggled to keep up with those in other countries,...
Persistent link: https://www.econbiz.de/10013225355
Standard zero-lower-bound New Keynesian models generate large fiscal multipliers and expansionary negative supply shocks. Thus, according to these models, a political party that implements fiscal contraction coupled with policies to increase aggregate supply should unambiguously cause economic...
Persistent link: https://www.econbiz.de/10013022817
Persistent link: https://www.econbiz.de/10012949202
This paper examines UK sovereign debt sustainability following the Second World War. Even though the UK in 1946 recorded the highest public debt-to-GDP ratio of the 20th century, the sovereign credit literature does not show a UK sovereign default following the Second World War. New archival...
Persistent link: https://www.econbiz.de/10012968878
policymaking in Germany. The analysis highlights the interplay between economic history and the history of ideas in shaping … policymaking in postwar (West) Germany. The paper argues that Germany learned the wrong lessons from its own history and misread … consequence of Germany’s peculiar anti-Keynesianism. …
Persistent link: https://www.econbiz.de/10011635491
Persistent link: https://www.econbiz.de/10011955671
Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as the single most important correlate of the subsequent Leave vote in the 2016 European Union (EU) referendum, along with broader measures of political dissatisfaction, are...
Persistent link: https://www.econbiz.de/10012910997
for the US, Japan, Germany and the UK are compared with estimation results from partial modeling approached adopted in the …
Persistent link: https://www.econbiz.de/10013124305
analysis bases on data referring to: Italy, Great Britain, Germany, France and Sweden. The main objective is to evaluate the …
Persistent link: https://www.econbiz.de/10013002332
We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...
Persistent link: https://www.econbiz.de/10013145150