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CBDCs, Payment Firms, and Geopolitics
Berg, Tobias - 2024
We analyze the effect of a major central bank digital currency (CBDC) - the digital euro - on the payment industry to … firms increase in response to positive announcements on the digital euro. Bank stocks do not react. We estimate a loss in …
Persistent link: https://www.econbiz.de/10015056184
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Fiscal Federalism in Four Federal Countries
Virkola, Tuomo - 2014
the main implications to the euro area and to the debate on common fiscal instruments. …
Persistent link: https://www.econbiz.de/10012037658
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What are the effects of fiscal policy shocks?
Mountford, Andrew; Uhlig, Harald - 2005
We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Unlike most of the previous literature this approach does not require that the contemporaneous reaction of some variables to fiscal policy shocks be set to zero or need additional...
Persistent link: https://www.econbiz.de/10010263594
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What should fiscal councils do?
Calmfors, Lars; Wren-Lewis, Simon - 2011
The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...
Persistent link: https://www.econbiz.de/10010274971
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Fiscal Federalism in Crisis: Lessons for Europe from the US
Darvas, Zsolt - 2010
The euro area is facing crisis, while the US is not, though the overall fiscal situation and outlook is better in the … euro area than in the US, and though the US faces serious state-level fiscal crises. A higher level of fiscal federalism … would strengthen the euro area, but is not inevitable. Current fiscal reform proposals (strengthening of current rules, more …
Persistent link: https://www.econbiz.de/10010494443
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Zum Einfluss von Parteiideologie auf die Staatstätigkeit in den US-Bundesstaaten
Potrafke, Niklas; Schneider, Margret; Simon, Christian - In: ifo Schnelldienst 66 (2013) 11, pp. 24-29
Eine neue Studie zeigt den Einfluss von Parteiideologie auf Wirtschaftspolitik in den US-Bundesstaaten auf. Demokraten haben die Staatstätigkeit ausgeweitet; Republikaner haben sie zurückgefahren. Insbesondere haben Republikaner die Arbeitsmärkte dereguliert. Problemlos implementiert werden...
Persistent link: https://www.econbiz.de/10011693506
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US Fiscal Policy In Recession: What's Next?
Auerbach, Alan - In: CESifo Forum 10 (2009) 2, pp. 3-8
Persistent link: https://www.econbiz.de/10011695925
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The Limits Of Fiscal Policy
Tatom, John A. - In: CESifo Forum 10 (2009) 2, pp. 14-19
Persistent link: https://www.econbiz.de/10011695927
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Collective Decisions on Public Debt
Blankart, Charles B.; Ehmke, David - In: CESifo DICE Report 14 (2016) 3, pp. 43-51
Persistent link: https://www.econbiz.de/10011696978
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Debt and the effects of fiscal policy
Favero, Carlo; Giavazzi, Francesco - 2007
A fiscal shock due to a shift in taxes or in government spending will, at some point in time, constrain the future path of taxes and spending, since the government's intertemporal budget constraint will eventually have to be met. This simple fact is surprisingly overlooked in analyses of the...
Persistent link: https://www.econbiz.de/10010280860