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A medium-sized, open-economy, fiscal DSGE model of South Africa
Kemp, Johannes Hermanus; Hollander, Hylton - 2020
Much of the research on fiscal multipliers has used reduced form modelling approaches. While these models have been extended to include richer controls and identification approaches, it remains unclear whether shocks identified capture the true structural shocks. An alternative way to identify...
Persistent link: https://www.econbiz.de/10012241962
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Opening the red budget box : nonlinear effects of a tax shock in the UK
Colombo, Valentina - 2020
consumption. The results suggest that the output tax multiplier is positive and above one (in absolute value) in recessions but …
Persistent link: https://www.econbiz.de/10012164687
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Fiscal space on the Eurozone peripery : the case of Spain
Uxó González, Jorge; Álvarez Peralta, Nacho; … - 2017
based on an application of an "imperfect" balanced budget multiplier, proposing a combination of discretionary increases in …
Persistent link: https://www.econbiz.de/10011595916
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The effect of income distribution and fiscal policy on growth, investment, and budget balance : the case of Europe
Obst, Thomas; Onaran, Özlem; Nikolaidi, Maria - 2017
This paper develops a multi-country post-Kaleckian demand-led growth model that incorporates the role of the government. One novelty of this paper is to integrate crosscountry effects of both changes in income distribution and fiscal policy. The model is used to estimate econometrically the...
Persistent link: https://www.econbiz.de/10011924544
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Fiscal austerity in ambiguous times
Ferrière, Axelle; Karantounias, Anastasios G. - 2016
How should public debt be managed when uncertainty about the business cycle is widespread and debt levels are high, as in the aftermath of the last financial crisis? This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without...
Persistent link: https://www.econbiz.de/10011446558
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New Fiscal Crisis Looming for the U.S
Wind, Serge L. - 2010
An assessment is presented of whether Greece's current plight is a harbinger of similar adverse conditions likely to directly impact the United States in the intermediate- to long-term future.Long-term deficits projected for 2020 and beyond, under the assumption that the economy is in full...
Persistent link: https://www.econbiz.de/10013142255
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A scientific note on the Italian Mini BOTs and the proposal of the CCCFs
Saccal, Alessandro - 2024
This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...
Persistent link: https://www.econbiz.de/10015076228
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Fiscal space on the eurozone periphery : the case of Spain
Uxó González, Jorge; Álvarez, Ignacio; Febrero, Eladio - 2017
application of an "imperfect" balanced budget multiplier, proposing a combination of discretionary increases in both public …
Persistent link: https://www.econbiz.de/10011609617
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Economic role of government budget revision in the presence of COVID-19
Shahini, Ledjon; Grabova, Perseta - In: Economies : open access journal 11 (2023) 4, pp. 1-14
caused by COVID-19. This study aims to assess the multiplier effects that budget revision has on the economy for the case of … appears that the budget restructuring that takes place during the year does not take into account the multiplier effect in the …
Persistent link: https://www.econbiz.de/10014318247
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Income Taxation, Imperfect Competition and the Balanced Budget Multiplier
Dogonowski, Robert Rene - 1998
In this paper we show that the fiscal multiplier depends on the type of taxation which the government uses to finance … its fiscal expenditure. If the finance takes place by an increase in the average tax rate, the multiplier will be positive …, but if it takes place by an increase in the marginal tax rate, the sign of the multiplier is ambiguous and depends on the …
Persistent link: https://www.econbiz.de/10014222752