L’impact quantitatif et dynamique de la TVA sociale, i.e. une réforme fiscale consistant à substituer de la TVA aux charges patronales, est évaluée à l’aide de deux modèles d’équilibre général dynamique. Le premier est un modèle walrasien sans autres distorsions que des taxes sur...

Cet article étudie les effets dynamiques des chocs de désinflation sur un ensemble de variables réelles et nominales de la zone Euro. A l’aide d’un modèle VAR structurel, nous identifions le choc de désinflation comme étant le seul choc ayant un effet permanent sur l’inflation à...

The Euro area as a whole has experienced a marked downward trend in inflation over the past decades and, concomitantly, a protracted period of depressed activity. Can permanent and gradual shifts in monetary policy be held responsible for these dynamics? To answer this question, we embed...

The aim of this paper is to complement the minimum distance estimation-structural vector autoregression approach when the weighting matrix is not optimal. In empirical studies, this choice is motivated by stochastic singularity or collinearity problems associated with the covariance matrix of...

We investigate the effects of disinflation policies on key macroeconomic variables. Using euro area data and structural vector autoregressions (SVARs), we identify disinflation shocks as the only shocks that drive nominal variables to a lower long-run level. We find that in the immediate...

This paper is a quantitative investigation into the characteristics of the Laffer curve in a neoclassical growth model with incomplete markets and heterogeneous, liquidity-constrained agents. We show that the shape of the Laffer curves related to taxes on labor, capital and consumption...