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Fiscal consolidation in Europe : pre- and post-Maastricht
Kamps, Christophe - 2001
Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe have changed after the Maastricht Treaty came into force. Recently Giavazzi, Jappelli and Pagano (2000) found evidence that national saving responds nonlinearly to fiscal policy...
Persistent link: https://www.econbiz.de/10011474247
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Fiscal Consolidation in Europe : Pre- and Post-Maastricht
Kamps, Christophe - 2005
Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe have changed after the Maastricht Treaty came into force. Recently Giavazzi, Jappelli and Pagano (2000) found evidence that national saving responds nonlinearly to fiscal policy...
Persistent link: https://www.econbiz.de/10014064008
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A Primer on the Economics and Time Series Econometrics of Wealth Effects
Davis, Morris A.; Palumbo, Michael - 2006
responsible for subsequent swings in the growth rate of consumer spending. We show how simple economic theory is used to motivate …
Persistent link: https://www.econbiz.de/10014135365
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International evidence on sticky consumption growth.
Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - 2008
We estimate the degree of ‘stickiness’ in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of auto-correlation, with a stickiness...
Persistent link: https://www.econbiz.de/10011604932
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Fiscal Consolidation in Europe: Pre- and Post-Maastricht
Kamps, Christophe - 2001
Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe have changed after the Maastricht Treaty came into force. Recently Giavazzi, Jappelli and Pagano (2000) found evidence that national saving responds nonlinearly to fiscal policy...
Persistent link: https://www.econbiz.de/10010260473
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Unemployment, Growth and Taxation in Industrial Countries
Daveri, Francesco; Tabellini, Guido - 2010
To the layman, the upward trend in European unemployment is related to the slowdown in economic growth. We argue that the layman's view is correct. The increase in European unemployment and the slowdown in economic growth are related because they stem from a common cause: an excessively high...
Persistent link: https://www.econbiz.de/10014029390
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Electoral uncertainty, fiscal policy and macroeconomic fluctuations
Malley, Jim; Philippopoulos, Apostolis; Woitek, Ulrich - 2005
In this paper we study the link between elections, fiscal policy and aggregate fluctuations. The set-up is a stylized dynamic stochastic general equilibrium model incorporating both technology and political re-election shocks. The later are incorporated via a two-party model with elections. The...
Persistent link: https://www.econbiz.de/10010261369
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Estimating a Banking-Macro Model for Europe Using a Multi-Regime VAR
Semmler, Willi - 2012
This paper introduces a Banking-Macro Model and estimates the linkages through a Multi-Regime VAR (MRVAR). We introduce a dynamic model which is akin to the Brunnermeier and Sannikov (BS) model (2010). The banking sector is exposed to instability due to adverse movements of asset prices and...
Persistent link: https://www.econbiz.de/10013110113
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Political Competition and Convergence to Fundamentals : With Application to the Political Business Cycle and the Size of the Public Sector
Ferris, J. Stephen; Park, Soo-Bin; Winer, Stanley L. - 2005
We address the problem of how to investigate whether economics, or politics, or both, matter in the explanation of public policy. We first pose the problem in a particular context by uncovering a political business cycle (using Canadian data covering 130 years), and by taking up the challenge to...
Persistent link: https://www.econbiz.de/10014061622
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Do Taxes Matter for Long-Run Growth? : Harberger's Superneutrality Conjecture
Mendoza, Enrique G. - 2006
Harberger`s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects … investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this … highlights implications of different taxes for growth and investment in these models. The empirical work is based on cross …
Persistent link: https://www.econbiz.de/10012781882