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Optimal Policy in Collateral Constrained Economies

Biljanovska, Nina - 2016

This paper examines optimal policy in a macroeconomic model with collateral constraints. Binding collateral constraints yield inefficient competitive equilibrium allocations because they distort the optimal utilization of real resources. I identify the set of policy instruments that can be used...

Persistent link: https://www.econbiz.de/10013005698

Fiscal Policy and Uncertainty

Wolff, Jonathan - 2020

We investigate the impact of macroeconomic uncertainty on the stimulative effect of government spending. Using historical macroeconomic time series, we show that government spending multipliers are smaller in episodes characterized by high macroeconomic uncertainty. This state dependence is...

Persistent link: https://www.econbiz.de/10012833820

Fiscal stimulus in liquidity traps : conventional or unconventional policies?

Lemoine, Matthieu; Lindé, Jesper - In: European economic review : EER 151 (2023), pp. 1-43

Persistent link: https://www.econbiz.de/10014235171

Vorschläge für den Einstieg in einen umsatzsteuerlichen Refund bei PPP-Inhabermodellen

Jacob, Dieter (contributor); Berger, Conny (contributor) - 2007

Bei der Auslagerung staatlicher Tätigkeiten auf private Partner kommt es für den Bereich personalintensiver Dienstleistungen durch die anfallende deutsche Umsatzsteuer zu einer zusätzlichen Kostenbelastung, die die Hoheitsträger bisher oft von Outsourcing abhält. Für den Bereich der...

Persistent link: https://www.econbiz.de/10003402863

Getting into GEAR : German and the rest of Euro area fiscal policy during the crisis ; conference paper

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2014

In this paper, we use the estimated three-region DSGE model GEAR, which pictures Germany, the Euro Area and the Rest of … Germany and the rest of EMU affected GDP growth and unemployment during the crisis. Not surprisingly, stimulus programmes … policy on domestic GDP growth was only small, however, amounting to a maximum of 1.6% for Germany and 0.8% for the rest of …

Persistent link: https://www.econbiz.de/10010486694

Fiscal policy during the crisis

Gadatsch, Niklas A. - In: Macroeconomic effects of fiscal policy : a DSGE approach, (pp. 5-46). 2014

Persistent link: https://www.econbiz.de/10010510328

Macroeconomic effects of fiscal policy : a DSGE approach

Gadatsch, Niklas A. - 2014

Persistent link: https://www.econbiz.de/10010488574

Employment, hours and optimal monetary policy

Dossche, Maarten; Lewis, Vivien; Poilly, Céline - 2015

We characterize optimal monetary policy in a New Keynesian search-and-matching model where multiple-worker firms satisfy demand in the short run by adjusting hours per worker. Imperfect product market competition and search frictions reduce steady state hours per worker below the efficient...

Persistent link: https://www.econbiz.de/10010471629

Why the split of payroll taxation between firms and workers matters for macroeconomic stability

Voigts, Simon - 2014

Conventional wisdom states that the statutory split of payroll taxation between firms and workers is of no macroeconomic relevance, because the tax incidence is fully determined by the market structure. This paper breaks with this view by establishing a theoretical link between the statutory...

Persistent link: https://www.econbiz.de/10010418878

Supply-Side Policies and the Zero Lower Bound

Fernández-Villaverde, Jesús - 2011

This paper examines how supply-side policies may play a role in fighting a low aggregate demand that traps an economy at the zero lower bound (ZLB) of nominal interest rates. Future increases in productivity or reductions in mark-ups triggered by supply-side policies generate a wealth effect...

Persistent link: https://www.econbiz.de/10013119105

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