What are the welfare consequences of debt reduction policies? In this paper, we answer this question with the help of an incomplete markets economy with production in which households are subject to uninsurable income shocks. We focus on policies that raise revenues from taxing income. We make...

This paper reviews the different channels of transmission of prudential policy highlighted in the literature and provides a quantitative assessment of the impact of Basel III reforms using “off-the-shelf” DSGE models. It shows that the effects of regulation are positive on GDP whenever the...

This paper (i) reviews the different channels of transmission of prudential policy highlightedin the literature and (ii) provides a quantitative assessment of the impact of Basel III reforms using "off-the-shelf" DSGE models. It shows that the effects of regulation are positive on GDP whenever...

Abstract: Warum sind Immobilien in bestimmten Gemeinden teurer als in anderen und welche lokalen Einflussfaktoren bestimmen die Immobilienpreise? Unterscheiden sich Immobilienpreise zwischen Gemeinden aufgrund von unterschiedlichen lokalen Steuern und haben derartige Preisunterschiede über...