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Laczo, Sarolta; Rossi, Raffaele - 2018

We characterise optimal tax policies when the government has access to consumption taxation and cannot credibly commit … to future policies. We consider a neoclassical economy where factor income taxation is distortionary within the period … only labour and capital income are taxed, the optimal time-consistent policies with consumption taxation are remarkably …

Persistent link: https://www.econbiz.de/10011823330

Temporary VAT reduction during the lockdown : evidence from Germany

Clemens, Marius; Röger, Werner - 2021

This paper evaluates the temporary VAT reduction invoked by the German government over the third and fourth quarter of 2020 as part of the COVID-19 stimulus package. There is considerable controversy. Critics argue that VAT reductions are ineffective in the presence of lockdown measures in place...

Persistent link: https://www.econbiz.de/10013341661

Hydrocarbon prices and subsidies in Bolivia 1986-2025

Medinaceli Monrroy, S. Mauricio; Velázquez Bilbao La … - 2023

The following study identifies five periods with different price regimes (for main hydrocarbons): 1) 1986-1996, where these prices are part of the Government's fiscal policy to finance part of the structural adjustment policies after the inflationary period; 2) 19971999, when a new methodology...

Persistent link: https://www.econbiz.de/10014450137

Temporary VAT reduction during the lockdown

Clemens, Marius; Röger, Werner - 2021

This paper evaluates the temporary VAT reduction introduced by the German government over the third and fourth quarter of 2020 as most controversial part of the COVID-19 stimulus package. Critics argue that VAT reductions are ineffective because of limited pass-through of temporary measures to...

Persistent link: https://www.econbiz.de/10012510323

Fiscal management of aggregate demand : the effectiveness of labor tax credits

Ferrière, Axelle; Navarro, Gaston - 2024

We use a quantitative heterogeneous agent model with nominal rigidities and unemployment risk to analyze the effectiveness of several fiscal policies in stabilizing a demand-driven recession. The model delivers empirically realistic distributions of marginal propensities to consume (mpc) and...

Persistent link: https://www.econbiz.de/10015084354

Managing pessimistic expectations and fiscal policy

Karantounias, Anastasios G. - 2012

This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive...

Persistent link: https://www.econbiz.de/10010292256

Government deficits in large open economies: The problem of too little public debt

Buiter, Willem H.; Sibert, Anne C. - 2015

Large and growing levels of public debt in the United States, United Kingdom, Japan and the Euro Area raise new interest in the cross-country effects of a large open economy's deficits. The authors consider a dynamic optimising model with costly tax collection and exogenously given public...

Persistent link: https://www.econbiz.de/10011314037

Risk Sharing in the Presence of a Public Good

Schroth, Josef - 2015

This paper studies an economy where agents can spend resources on consuming a private good and on funding a public good. There is asymmetric information regarding agents' relative preference for private versus public good consumption. I show how private good consumption should be coordinated...

Persistent link: https://www.econbiz.de/10011396705

Government deficits in large open economies: The problem of too little public debt

Buiter, Willem H.; Sibert, Anne C. - In: Economics: The Open-Access, Open-Assessment E-Journal 10 (2016) 2016-2, pp. 1-39

Persistent link: https://www.econbiz.de/10011417371

Productive Government Expenditure and Economic Growth

Irmen, Andreas; Kühnel, Johanna - 2008

We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...

Persistent link: https://www.econbiz.de/10011422176