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Budgetary Policy and Unemployment Dynamics
von Thadden, Leopold - 2016
Persistent link: https://www.econbiz.de/10012991304
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Budgetary Policy and Unemployment Dynamics
von Thadden, Leopold; Kaas, Leo - 2001
We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …
Persistent link: https://www.econbiz.de/10014130501
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Budgetary policy and unemployment dynamics
Kaas, Leo; Thadden, Leopold von - 2001
We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …
Persistent link: https://www.econbiz.de/10001565847
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Budgetary policy and unemployment dynamics
Kaas, Leo; Thadden, Leopold von - 2001
We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …
Persistent link: https://www.econbiz.de/10011419352
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Why aging induces deflation and secular stagnation
Braun, R. Anton; Ikeda, Daisuke - 2022
We provide a quantitative theory of deflation and secular stagnation. In our lifecycle framework, an aging population puts persistent downward pressure on the price level, real interest rates, and output. A novel feature of our theory is that it also recognizes the reactions of government...
Persistent link: https://www.econbiz.de/10013382196
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Sovereign Debt Restructurings as Exercises of International Public Authority : Towards a Decentralized Sovereign Insolvency Law
von Bogdandy, Armin - 2018
This paper argues that sovereign debt restructurings as agreed between defaulting states and their multilateral, bilateral, or private creditors constitute exercises of international public authority. Their authoritative character results from their effects on the citizens of the defaulting...
Persistent link: https://www.econbiz.de/10012940180
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The Global Dimension to Fiscal Sustainability
Byrne, Joseph - 2014
This paper provides a new perspective of fiscal sustainability and financial globalization in emerging and industrial countries. We highlight the importance of global capital market shocks for fiscal sustainability, a relationship which has hitherto been ignored in the empirical literature....
Persistent link: https://www.econbiz.de/10013045101
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That Squeezing Feeling : The Interest Burden and Public Debt Stabilization
Debrun, Xavier - 2013
The paper explores the extent to which the pressure of debt service on other spending items may push governments to embark on fiscal consolidation beyond what is strictly necessary to secure solvency. The empirical analysis identifies thresholds of interest bill indicators beyond which...
Persistent link: https://www.econbiz.de/10013080454
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A cross-country database of fiscal space
Kose, M. Ayhan; Kurlat, Sergio; Ohnsorge, Franziska; … - 2017
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10011696384
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A Cross-Country Database of Fiscal Space
Kose, M. Ayhan - 2017
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10012950514