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Financial Crisis and Public Policy
Gokhale, Jagadeesh - 2009
This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve's actions to prop up the financial sector. It argues that recovery from the financial crisis is likely to be slow with or...
Persistent link: https://www.econbiz.de/10013156705
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The Age for Austerity? Population Age Structure and Fiscal Multipliers
Kopecky, Joseph - 2021
Advanced economies face two important trends: population aging and rising debt. In the coming years it will be critical to understand how policies undertaken by governments interact with their changing age structures. In a panel of advanced economies, I show that fiscal deficit consolidation...
Persistent link: https://www.econbiz.de/10013311084
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What people believe about monetary finance and what we can('t) do about it : evidence from a large-scale, multi-country survey experiment
Hommes, Cars H.; Pinter, Julien; Salle, Isabelle - 2023 - Last updated: July 14, 2023
affects the respondents' views by shifting their inflation and tax expectations associated to these policies. …
Persistent link: https://www.econbiz.de/10014293355
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Sovereign default risk premia and state-dependent twin deficits : conference paper
Hürtgen, Patrick; Rühmkorf, Ronald - 2013 - This version: August 7, 2013
This paper studies the impact of the state-dependent risk of a government default on the correlation of the scal balance and current account. We use a small open economy model where nonlinear risk premia arise endogenously when the government operates close to its scal limit, i.e. the maximum...
Persistent link: https://www.econbiz.de/10010341080
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Does drawing down the U.S. Strategic Petroleum Reserve help stabilize oil prices?
Kilian, Lutz; Zhou, Xiaoqing - 2019 - This version: July 9, 2019
We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using novel identifying strategies and evaluation methods,...
Persistent link: https://www.econbiz.de/10012033337
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Does drawing down the U.S. strategic petroleum reserve help stabilize oil prices?
Kilian, Lutz; Zhou, Xiaoqing - 2020 - This version: May 13, 2020
We study the effects of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. We show that historically SPR policy interventions, defined...
Persistent link: https://www.econbiz.de/10012317341
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Does austerity pay off? : conference paper
Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes - 2014
Austerity measures are frequently enacted when the sustainability of public finances is in doubt. Such doubts are reflected in high sovereign yield spreads and put further strain on government finances. Is austerity successful in restoring market confidence, bringing about a reduction in yield...
Persistent link: https://www.econbiz.de/10010481328
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Fiscal rules migate economic setbacks during crises
Kriwoluzky, Alexander; Pagenhardt, Laura; Rieth, Malte - In: DIW weekly report : economy, politics, science : a … 10 (2020) 52/53, pp. 495-503
91 countries around the world have established fiscal rules to limit national debt and/or budget deficits. Using data from previous natural disasters, this report investigates how these fiscal rules affect overall economic development following a crisis. The results show countries with fiscal...
Persistent link: https://www.econbiz.de/10012426658
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Stock markets, banks and long run economics growth : a panel cointegration-based analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz C. - 2013
and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010223077
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Unions and income inequality : a heterogeneous panel cointegration and causality analysis
Herzer, Dierk - 2014
between unionization and income inequality for a sample of 20 countries. Using heterogeneous panel cointegration techniques …), and (iii) long-run causality runs in both directions, suggesting that, on average, an increase in unionization reduces …
Persistent link: https://www.econbiz.de/10010406053