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The short- and long-run effects of fiscal consolidation in dynamic general equilibrium : conference paper
Schwarzmüller, Tim; Wolters, Maik H. - 2014 - Very preliminary, work in progress!
ordering these consolidation strategies by multiplier size or their welfare consequences leads to very different rankings. With …
Persistent link: https://www.econbiz.de/10010486056
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Fiscal austerity in ambiguous times
Ferrière, Axelle; Karantounias, Anastasios G. - 2016
generate optimal policies that resemble "austerity" measures. Optimal policy prescribes front-loaded fiscal consolidations and …
Persistent link: https://www.econbiz.de/10011446558
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Long-run effects of austerity
Martins, Guilherme Klein - 2022
This paper provides evidence that austerity shocks have long-run negative effects on GDP. Besides addressing the … reweighting in a local projections setup to account for the potential endogeneity of austerity policies and the non-linearity of … contractions larger than 3%. Evidence is also found linking austerity with smaller capital stock in the long-run. The results are …
Persistent link: https://www.econbiz.de/10014229776
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Balanced Budget Requirements and Local Austerity Multipliers
Cerrato, Andrea; Filippucci, Francesco; Valle, Simone - 2023
cut capital expenditures, rather than decreasing current expenditures or raising taxes. The estimated multiplier is not …
Persistent link: https://www.econbiz.de/10014343821
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Fiscal consolidation strategy
Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012
In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...
Persistent link: https://www.econbiz.de/10009622444
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Growth forecast errors and government investment and consumption multipliers
Jovanovic, Branimir - In: International review of applied economics 31 (2017) 1, pp. 83-107
Persistent link: https://www.econbiz.de/10011761965
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Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies
Baldacci, Emanuele - 2013
This paper assesses the effects of fiscal consolidations associated with public debt reduction on medium-term output growth during periods of private debt deleveraging. The analysis covers 107 countries and 79 episodes of public debt reduction driven by discretionary fiscal adjustments during...
Persistent link: https://www.econbiz.de/10013071366
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The long and short of financing government spending
Mankart, Jochen; Priftis, Romanos; Oikonomou, Rigas - International Research Conference on Household … - 2022
larger multiplier when it issues short term debt. We find that the latter effect dominates and that the optimal policy for …
Persistent link: https://www.econbiz.de/10013443719
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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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The (Low) Fiscal Multiplier When Debt Is Denominated in Foreign Currency
Hory, Marie-Pierre - 2019
denominated in foreign currency is, the lower the fiscal multiplier …
Persistent link: https://www.econbiz.de/10012899540