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Kinlaw, William B.; Kritzman, Mark; Metcalfe, Michael; … - 2022

The authors apply a Hidden Markov Model to identify regimes of shifting inflation and then employ an attribution technique based on the Mahalanobis distance to identify the economic variables that determine the trajectory of inflation. Their analysis enables policymakers to focus on the most...

Persistent link: https://www.econbiz.de/10014030604

Saving Europe? : the unpleasant arithmetic of fiscal austerity in integrated economies

Mendoza, Enrique G.; Tesar, Linda L.; Zhang, Jing - 2014

What are the macroeconomic effects of tax adjustments in response to large public debt shocks in highly integrated economies? The answer from standard closed-economy models is deceptive, because they underestimate the elasticity of capital tax revenues and ignore crosscountry spillovers of tax...

Persistent link: https://www.econbiz.de/10010426560

Saving Europe? : the unpleasant arithmetic of fiscal austerity in integrated economies

Mendoza, Enrique G.; Tesar, Linda L.; Zhang, Jing - 2014

Europe's debt crisis casts doubt on the effectiveness of fiscal austerity in highly-integrated economies. Closed-economy models overestimate its effectiveness, because they underestimate tax-base elasticities and ignore cross-country tax externalities. In contrast, we study tax responses to debt...

Persistent link: https://www.econbiz.de/10010463574

Structural reforms and the enlargement of monetary union

Hefeker, Carsten - 2003

This paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...

Persistent link: https://www.econbiz.de/10001807325

Structural reforms and the enlargement of monetary union

Hefeker, Carsten - 2003

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...

Persistent link: https://www.econbiz.de/10011509539

On Aghion's and Blanchard's "On the speed of transition in Central Europe"

Nævdal, Eric; Wagner, Martin - 2005

Persistent link: https://www.econbiz.de/10003114889

On Aghion's and Blanchard's "On the speed of transition in Central Europe"/ Eric Nævdal; Martin Wagner

Nævdal, Eric; Wagner, Martin - 2005

In this paper we derive the correct solution of optimal closure of the state sector studied in Section 6.4 of Aghion and Blanchard (1994). Aghion and Blanchard only present an 'approximate' solution which entails a constant unemployment rate in what they call a turnpike approximation. We show...

Persistent link: https://www.econbiz.de/10009730397

Optimal taxation of capital in the presence of declining labor share

Atesagaoglu, Orhan Erem; Yazici, Hakki - 2021

We analyze the implications of the decline in labor’s share in national income for optimal Ramsey taxation. It is optimal to accompany the decline in labor share by raising capital taxes only if the labor share is falling because of a decline in competition or other mechanisms that raise the...

Persistent link: https://www.econbiz.de/10012533894

The potential of Regional Integration Agreements (RIAs) in enhancing the credibility of reform : the case of the Syrian-European Association Agreement

Zorob, Anja - 2007

Persistent link: https://www.econbiz.de/10003570752

The potential of Regional Integration Agreements (RIAs) in enhancing the credibility of reform : the case of the Syrian-European association agreement

Zorob, Anja - 2007

(AA). Syria initialled an AA with the European Union in October 2004, but two and a half years later, this agreement is … ; Credibility ; Commitment ; Signalling ; European Mediterranean Partnership ; Syria … Analyserahmen auf das Beispiel des Syrisch-Europäischen Assoziierungsabkommens angewendet. Syrien initialisierte im Oktober 2004 ein …

Persistent link: https://www.econbiz.de/10008905880