We provide a systematic analysis of fiscal consolidation in a dynamic general equilibrium model with a detailed government sector and a share of credit-constrained households. We simulate permanent cuts in government consumption, government investment, and transfer payments as well as permanent...

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...

"The findings of this book will be of considerable interest to professionals and policymakers engaged in policy reforms in foreign aid, and will provide an essential one-stop reference for students of development studies, international finance, and economics."--Jacket

Main description: This volume represents some of the Proceedings of the Annual Meeting of the Research Committee on Development Economics (Ausschuss für Entwicklungsländer) of the German Economic Association (Verein für Socialpolitik) held in Cologne, Germany, in July 2004. The meeting...

Main description: Der vorliegende Sammelband enthält Referate, die auf der Jahrestagung 2003 des Ausschusses für Entwicklungsländer des Vereins für Socialpolitik in Hamburg gehalten wurden. -- Im Mittelpunkt steht die Beurteilung der Entwicklungszusammenarbeit (EZ). Einen ersten Schwerpunkt...