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Rules, and Their Effects on Fiscal Policy

Claeys, Peter - 2015

Fiscal rules aim at constraining public debt. In Sweden, a combination of procedural and numerical rules was introduced in response to the severe 1991 fiscal crisis. These rules have been effective: public debt has come down. The current fiscal framework does not rule out future fiscal crises,...

Persistent link: https://www.econbiz.de/10014208618

The Distributional Implications of Fiscal Devaluations

Giagheddu, Marta - 2020

This paper explores the distributional implications of a fiscal devaluation acquired through a shift from labor to consumption taxes in an open-economy Heterogeneous Agents New Keynesian model with incomplete markets and uninsurable income risk. A permanent fiscal devaluation perfectly mimicking...

Persistent link: https://www.econbiz.de/10012828331

The distributional impacts of fiscal policy : the case of the Philippines

Son, Hyun H. - 2022

The distributional impacts of fiscal policies are instrumental in reducing inequality in countries like the Philippines, where inequality has been persistently high. This paper assesses how equitable various taxes and transfers in the Philippines are by deriving the elasticities of Atkinson and...

Persistent link: https://www.econbiz.de/10013207209

Imperfect financial markets and the cyclicality of social spending

Froemel, Maren; Paczos, Wojtek - 2024

This paper explores the link between default risk and fiscal procyclicality. We show that countries with higher sovereign risk have a more procyclical fiscal expenditure policy, which is driven mostly by transfers. We build a small open economy model with income inequality, social transfers, and...

Persistent link: https://www.econbiz.de/10014490852

Who cares? : attitudes towards redistribution and fiscal austerity

Brown, Sarah; Kontonikas, Alexandros; Montagnoli, Alberto; … - 2021

We present new evidence showing that fiscal austerity strengthens support for redistribution, especially for the … relatively well-off. Our theoretical model proposes two mechanisms to explain this heterogeneity in support for redistribution …

Persistent link: https://www.econbiz.de/10012668262

Redistributive fiscal policies and regional economic disparities

Olayele, Bankole Fred; Soo, Kwok Tong - In: Cogent economics & finance 8 (2020) 1, pp. 1-19

Finding a definitive answer to the question of whether fiscal redistribution is harmful or beneficial for regional … economic performance is not straightforward. This paper disentangles the key components of fiscal redistribution in a regional … battery of studies on the mixed evidence concerning the relationship between fiscal redistribution and per capita income. To …

Persistent link: https://www.econbiz.de/10013179696

Imperfect financial markets, external debt, and the cyclicality of social transfers : conference paper

Frömel, Maren - 2013 - Preliminary

This paper deals with fiscal policy over the business cycle when international financial markets are imperfect. I document evidence that government expenditure tends to be more procyclical the higher is the borrowing cost for a sovereign. Decomposing government expenditure components shows that...

Persistent link: https://www.econbiz.de/10010341002

The redistributive effects of a money-financed fiscal stimulus

Punzo, Chiara; Rossi, Lorenza - 2019

This paper analyzes the redistributive channel of a money financed fiscal stimulus (MFFS). It shows that the way in which this regime is implemented is crucial to determine its redistributive effects and consequently its effectiveness. In normal times, the most effective regime is a MFFS with no...

Persistent link: https://www.econbiz.de/10011962123

Redistribution and the monetary-fiscal policy mix

Bhattarai, Saroj; Lee, Jae Won; Yang, Choongryul - 2020

We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly … regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under …

Persistent link: https://www.econbiz.de/10012388237

Redistribution and the monetary-fiscal policy mix

Bhattarai, Saroj; Lee, Jae-Won; Yang, Choongryul - In: Quantitative economics : QE ; journal of the … 14 (2023) 3, pp. 817-853

We show that the effectiveness of redistribution policy is tied to how much inflation it generates, and thereby to … effects of the CARES Act in a COVID recession. We find that transfer multipliers are larger, and that moreover, redistribution …

Persistent link: https://www.econbiz.de/10014362537

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