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Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe … national saving responds nonlinearly to fiscal policy when a large and persistent consolidation is undertaken. I show that …
Persistent link: https://www.econbiz.de/10011474247
Constitutional states, as a separate category of social structures, are progressively losing their economic power, as measured with their capacity to appropriate the available capital stock. Fiscal policies, and the corresponding institutions of public finance, play a significant role in the...
Persistent link: https://www.econbiz.de/10012989564
Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe … national saving responds nonlinearly to fiscal policy when a large and persistent consolidation is undertaken. I show that …
Persistent link: https://www.econbiz.de/10014064008
Persistent link: https://www.econbiz.de/10014432289
Persistent link: https://www.econbiz.de/10012232813
This paper provides new evidence that sustained budget deficits reduce national saving and raise interest rates by … that each percent-of-GDP in current deficits reduces national saving by 0.5 to 0.8 percent of GDP. Each percent-of-GDP in …
Persistent link: https://www.econbiz.de/10013130569
Relations between national public and private savings, domestic investment, and the current account are analyzed with the Global Econometric Model (National Institute, London). Simulation results obtained with this full modeling approach for the US, Japan, Germany and the UK are compared with...
Persistent link: https://www.econbiz.de/10013124305
We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999 … panel setting. We find that fiscal expansions are associated with an increase in household saving rate in the euro area … the (discretionary) fiscal policy impulse. The median saving offset across all baseline specifications is around 19% in …
Persistent link: https://www.econbiz.de/10012745340
Persistent link: https://www.econbiz.de/10003611732
Persistent link: https://www.econbiz.de/10002777837