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The Policy Mix in the US and EMU : Evidence from a SVAR Analysis
Afonso, António - 2018
the US and the Euro Area (EMU). Overall, our results show that these two cases are different from each other. First, while … in the case of the US there is evidence of Keynesian monetary policy, the same is not true in the case of the EMU. Second … of the EMU (expansionary fiscal consolidation), while it does not hold in the case of the US. Third, there is evidence …
Persistent link: https://www.econbiz.de/10012928380
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Estimating US Fiscal and Monetary Interactions : From Volcker Chairmanship to the Great Recession
Gerba, Eddie - 2013
Locating the appropriate degree of interaction between fiscal and monetary policy plays an important role in ensuring economic stability. Their joint impact is, however, still unclear. We observe significant differences in the transmission of shocks, in particular between the Great Recession and...
Persistent link: https://www.econbiz.de/10013073633
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Monetary policy in the United States and the euro area during the crisis
Cordemans, N.; Ide, S. - In: Economic Review (2012) I, pp. 39-63
In the wake of the two longer-term refinancing operations with a maturity of three years conducted in December 2011 and February 2012, amounts placed on the Eurosystem’s deposit facility surged to unprecedented high levels of around € 800 billion. The article clarifies how this high recourse...
Persistent link: https://www.econbiz.de/10011272861
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The fiscal-monetary policy mix in the Euro area : challenges at the zero lower bound
Orphanides, Athanasios - 2017
This paper explores the reasons for the suboptimal fiscal-monetary policy mix in the euro area in the aftermath of the global financial crisis and ways in which the status quo can be improved. A comparison of fiscal and monetary policies and of economic outcomes in the euro area and the United...
Persistent link: https://www.econbiz.de/10011749436
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Exigent and Unusual Circumstances : The Federal Reserve and the U.S. Financial Crisis
Johnson, Christian A. - 2013
The U.S. Federal Reserve has committed hundreds of billions of dollars in unprecedented lending activities and purchases of mortgage-backed securities based upon its authority under the Federal Reserve Act, and particularly upon its interpretation of Section 13(3), a formerly untested and unused...
Persistent link: https://www.econbiz.de/10013094881
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Secular stagnation
Bossone, Biagio - 2014
This study analyzes the emergence of secular stagnation as the consequence of a rise in the preference for liquidity. Such a rise is caused by a persistent set of pessimistic expectations. This study also investigates the effectiveness of a broad range of demand-management policies in dealing...
Persistent link: https://www.econbiz.de/10010430693
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Financialization: what it is and why it matters
Palley, Thomas I. - 2008
Finanzialisierung ist ein Prozess, in dessen Verlauf Finanzmärkte, -institutionen und -eliten zunehmend Einfluss auf Wirtschaftspolitik und ökonomische Ergebnisse gewinnen. Finanzialisierung transformiert die Funktionsweise des ökonomischen Systems sowohl auf der Makro- als auch auf der...
Persistent link: https://www.econbiz.de/10003744541
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Take the Money and Run - The Impact of the HEART Act on the Ultimate Estate Plan : Expatriation to Avoid U.S. Income, Estate and Gift Tax
Macaulay, Kathleen - 2008
Internal Revenue Code Sections 877A and 2801 were created by the HEART Act to impose a mark-to-market exit tax on citizens wishing to expatriate, and to impose a wealth transfer tax upon U.S. gift recipients of an expatriate's wealth. The idea is for expatriating citizens to pay their taxes,...
Persistent link: https://www.econbiz.de/10012722816
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Household Income Volatility and Tax Policy : Helping More and Hurting Less, Testimony Before the U.S. Joint Economic Committee
Batchelder, Lily L. - 2010
This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes significant hardships on American families. It heightens stress about finances and may increase household living expenses. These hardships are most pronounced for middle-and...
Persistent link: https://www.econbiz.de/10014195419
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Monetary policy and macroeconomic factors : Japan versus the US and the euro area
Siklos, Pierre L. - In: Asia and the global economy : AGE 3 (2023) 2, pp. 1-8
Narratives that portray macroeconomic policies in Japan as unlike ones pursued in other large economies persist. I revisit how several factors, including monetary, fiscal, and demographic factors impact Japan, the US, and the euro area. Panel VARs driven by factors or observed macroeconomic...
Persistent link: https://www.econbiz.de/10014447638