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spending multiplier by estimating and simulating a New Keynesian dynamic stochastic general equilibrium model of the Japanese … multiplier, fiscal stimulus plans should be announced alongside financing schemes …
Persistent link: https://www.econbiz.de/10013129067
based on an application of an "imperfect" balanced budget multiplier, proposing a combination of discretionary increases in … both public expenditure and revenue. The main conclusion is that the end of fiscal austerity is feasible and perfectly … Maßnahmen ergreifen sollte, um eine Haushaltskonsolidierung sicherzustellen. Andererseits hatte Spanien im Jahr 2015 die …
Persistent link: https://www.econbiz.de/10011595916
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
consolidation measures that have been implemented in Greece between 2010 and 2014. We estimate that austerity explains almost the …This policy brief reexamines the effects of the Greek austerity experiment on its economy via a counterfactual analysis … entire collapse of Greek GDP after 2009. This result suggests that-ceteris paribus-, in the absence of austerity, the Greek …
Persistent link: https://www.econbiz.de/10011599316
This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...
Persistent link: https://www.econbiz.de/10015076228
The paper focuses on public finance and the aspect of fiscal consolidation in Poland as economic consequences after the financial crisis in 2008. The study assumes that there is a wide range of needs for fiscal consolidation implementation in European post-crisis countries. Budgets of the vast...
Persistent link: https://www.econbiz.de/10011588171
When governments loose investors' confidence, additional public spending and the resulting increase in public debt would push-up risk-adjusted interest rates in a more aggressive way. A regression model on a panel of 26 EU countries over the period 1996-2011 shows that a 10 percentage point...
Persistent link: https://www.econbiz.de/10013103445
denominated in foreign currency is, the lower the fiscal multiplier …
Persistent link: https://www.econbiz.de/10012899540
fiscal multiplier is adversely affected by the amount of public debt. A regression model on a panel of 26 EU countries over …
Persistent link: https://www.econbiz.de/10013077565
This paper analyzes the redistributive channel of a money financed fiscal stimulus (MFFS). It shows that the way in which this regime is implemented is crucial to determine its redistributive effects and consequently its effectiveness. In normal times, the most effective regime is a MFFS with no...
Persistent link: https://www.econbiz.de/10011962123