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EDGE-M3: a dynamic general equilibrium micro-macro model for the EU member states

D'Andria, Diego; DeBacker, Jason; Evans, Richard W.; … - 2020

This paper provides a technical description of the overlapping generations model used by the Joint Research Centre to analyse tax policy reforms, including in particular pension and demographic issues. The main feature of the EDGE-M3 model lies in its high level of disaggregation and the close...

Persistent link: https://www.econbiz.de/10012241664

Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus

Miranda-Pinto, Jorge - 2020

We document that the interest rate response to fiscal stimulus (IRRF) is lower in countries with high inequality or high household debt. To interpret this evidence we develop a model in which households take on debt to maintain a consumption threshold (saving constraint). Now debt-burdened,...

Persistent link: https://www.econbiz.de/10012840260

Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus

Miranda-Pinto, Jorge - 2020

Persistent link: https://www.econbiz.de/10012849875

Fiscal Policy Through Time-Varying Tax Rates If and How

Kaufman, Martin - 2006

policy can effectively be implemented in practice. While, in principle, variable taxes could improve welfare in some cases …-tax break is in a better footing to boost consumption and welfare than an income-tax break. A hike in consumption taxes can also …. However, variable taxes are subject to serious implementation problems fettering their use …

Persistent link: https://www.econbiz.de/10012782675

Chapter 5 The Economic Theory of Gift-Giving: Perfect Substitutability of Transfers and Redistribution of Wealth

Mercier Ythier, Jean - In: Handbook of the economics of giving, altruism and …, (pp. 227-369). 2006

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...

Persistent link: https://www.econbiz.de/10014023678

The Tax Unit and Household Production

Piggott, John - 2008

Under a progressive income tax, conventional wisdom is that taxing individuals rather than households is preferred from an efficiency point of view. The reason is that secondary workers, whose labor supply elasticity is high, will be taxed at a lower marginal rate than primary workers, whose...

Persistent link: https://www.econbiz.de/10014031001

Should Income Inequality Be Praised? Multiple Public Goods Provision, Income Distribution and Social Welfare

Itaya, Jun-ichi - 2017

We investigate how income inequality affects social welfare in a model of voluntary contributions to multiple pure public goods. Itaya, de Meza, and Myles (1997) show that the maximization of social welfare precludes income equality in a single pure public good model. In contrast, we show that...

Persistent link: https://www.econbiz.de/10012965708

Chapter 1 Introduction to the Economics of Giving, Altruism and Reciprocity

Kolm, Serge-Christophe - In: Handbook of the economics of giving, altruism and …, (pp. 1-122). 2006

Altruism, giving and pro-social conduct, and reciprocity, are the basis of the existence and performance of societies, through their various occurrences: in families; among the diverse motives of the political and public sector; as the general respect and moral conduct which permit life in...

Persistent link: https://www.econbiz.de/10014023682

The role of automatic stabilizers in business cycle : the case of Indonesia

Kuncoro, Haryo - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 167-184

The use of large fiscal stimulus packages to dampen the impact of Covid-19 recently has raised concerns about the effectiveness of the discretionary fiscal policy. This paper aims at analysing the feasibility of automatic fiscal stabilisers to mitigate economic fluctuations in the case of...

Persistent link: https://www.econbiz.de/10013174018

Managing pessimistic expectations and fiscal policy

Karantounias, Anastasios G. - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 1, pp. 193-231

This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive...

Persistent link: https://www.econbiz.de/10011686979

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