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The short- and long-run effects of fiscal consolidation in dynamic general equilibrium : conference paper

Schwarzmüller, Tim; Wolters, Maik H. - 2014 - Very preliminary, work in progress!

ordering these consolidation strategies by multiplier size or their welfare consequences leads to very different rankings. With …

Persistent link: https://www.econbiz.de/10010486056

The long and short of financing government spending

Mankart, Jochen; Priftis, Romanos; Oikonomou, Rigas - International Research Conference on Household … - 2022

larger multiplier when it issues short term debt. We find that the latter effect dominates and that the optimal policy for …

Persistent link: https://www.econbiz.de/10013443719

Revisiting the narrative approach of estimating fiscal multipliers : conference paper

Hebous, Shafik; Zimmermann, Tom - 2014

We re-examin the notion of identifying macroeconomic effects using the narrative approach taking as an application the estimation of tax multipliers. We point out to a test for the checking the adequacy of regressing the narrative measure directly on the outcome variable. This test...

Persistent link: https://www.econbiz.de/10010484325

Fiscal stimulus and the extensive margin : conference paper

Lewis, Vivien; Winkler, Roland - 2013

Using VAR analysis on US data, we show that unanticipated fiscal expansions boost private consumption and business formation. Models with an extensive investment margin, i.e. endogenous firm and product entry, have difficulties explaining these two phenomena simultaneously. Considering different...

Persistent link: https://www.econbiz.de/10010339394

Do public investments increase employment in a recession? : evidence from Germany ; conference paper

Buchheim, Lukas; Watzinger, Martin - 2013

In 2009, Germany invested 15.4 Billion Euro in infrastructure to avert the looming recession. In this study, we evaluate whether the German stimulus program was successful in limiting the impact of the crisis on the job market. We exploit exogenous cross-sectional variation to identify the...

Persistent link: https://www.econbiz.de/10010341046

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 … economic activity. The conditions under which austerity takes place are crucial. During times of fiscal stress, spreads rise in …

Persistent link: https://www.econbiz.de/10010481328

Sovereign bond market reactions to fiscal rules and no-bailout clauses : the Swiss experience ; conference paper

Feld, Lars P.; Kalb, Alexander; Moessinger, Marc-Daniel; … - 2013 - This version: March 2013

We investigate the political determinants of risk premiums which sub-national governments in Switzerland have to pay for their sovereign bond emissions. For this purpose we make use of financial market data from 288 tradable cantonal bonds in the period from 1981 to 2007. Our main focus is on...

Persistent link: https://www.econbiz.de/10010340959

Trust in government and fiscal adjustments : conference paper

Bursian, Dirk; Weichenrieder, Alfons J.; Zimmer, Jochen - 2014

The paper looks at the determinants of fiscal adjustments as reflected in the primary surplus of countries. Our conjecture is that governments will usually find it more attractive to pursue fiscal adjustments in a situation of relatively high growth, but based on a simple stylized model of...

Persistent link: https://www.econbiz.de/10010483952

Sovereign default risk premia and state-dependent twin deficits : conference paper

Hürtgen, Patrick; Rühmkorf, Ronald - 2013 - This version: August 7, 2013

the correlation of the scal balance and current account decreases. We calibrate the model to Greece and simulate the debt …

Persistent link: https://www.econbiz.de/10010341080

The effects of fiscal rules on public finances and their identification : conference paper

Heinemann, Friedrich; Yeter, Mustafa - 2014

Many economic studies analyse the impact of fiscal rules and discuss their effectiveness in limiting excessive debt. A majority of these studies, however, neglects or only deals insufficiently with the potential issue of endogeneity. In this paper, we propose a novel identification approach...

Persistent link: https://www.econbiz.de/10010485290

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