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We analyse German citizens' knowledge about monetary policy and the European Central Bank (ECB), as well as the public … knows about the ECB and (ii) the person's actual knowledge. The media-related influence varies by level of education and is … stronger for subjective knowledge. Women are significantly less interested in and knowledgeable about the ECB. We conclude that …
Persistent link: https://www.econbiz.de/10010508550
, researcherís work helps develop new ideas to add to firm's knowledge capital that enhances its productivity for many periods. The … long-lived effect of knowledge capital on productivity is analogous to the long-lasting effect of consumer durables on … knowledge capital. We show, however, that the relative role of the pricing of the two production inputs analogous to consumption …
Persistent link: https://www.econbiz.de/10012024683
uses it extensively as a part of tax-incentive programs based on the theory that tax benefits stemming from depreciation …
Persistent link: https://www.econbiz.de/10013051859
of higher inflation tax revenues: inflation dynamics in line with the fiscal theory of the price level must take place in …
Persistent link: https://www.econbiz.de/10013102700
of higher inflation tax revenues: inflation dynamics in line with the fiscal theory of the price level must take place in …
Persistent link: https://www.econbiz.de/10013111099
We provide a systematic analysis of fiscal consolidation in a medium-scale dynamic general equilibrium model. Our results show that the choice of the consolidation instrument is very important, not only with respect to the short- and long-run output effects of the different consolidation...
Persistent link: https://www.econbiz.de/10010416675
We provide a systematic analysis of fiscal consolidation in a dynamic general equilibrium model with a detailed government sector and a share of credit-constrained households. We simulate permanent cuts in government consumption, government investment, and transfer payments as well as permanent...
Persistent link: https://www.econbiz.de/10010486056
This paper develops a monetary model with taxes to account for the time-varying effects of energy shocks on output and hours worked in post-World War II U.S. data. In our model, the real effects of an energy shock are amplified when the monetary authority responds to that shock by changing its...
Persistent link: https://www.econbiz.de/10013035538
Yes, indeed; at least for macroeconomic policy interaction. We examine a Neo-Classical economy and provide the conditions for policy arrangements to successfully stabilize the economy when agents have either rational or adaptive expectations. For a contemporaneous-data monetary policy rule, the...
Persistent link: https://www.econbiz.de/10011513023
Should inflation be thought of as "just another tax?" The theoretical basis for doing so dates back to Phelps (1973) and has been greatly refined ever since. Since optimal taxation minimizes the deadweight loss by equalizing the marginal distortions of all available taxes, including the...
Persistent link: https://www.econbiz.de/10013122486