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Tax Thy Neighbour : Corporate Tax Pass-Through into Downstream Consumer Prices in a Monetary Union

Dedola, Luca; Osbat, Chiara; Reinelt, Timo - 2022

We estimate the response of product-level retail prices to changes in the corporate tax rates paid by wholesale producers (pass-through). Under perfect competition in goods and factor markets, pass-through of corporate taxes should be zero, and their incidence mainly falls on factor prices. We...

Persistent link: https://www.econbiz.de/10014080686

Fiscal Stabilization in the United States : Lessons for Monetary Unions

Nikolov, Plamen; Pasimeni - 2022

The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and its relevance has suddenly increased further, after the recent Covid-19 shock. The analysis of fiscal stabilization in the United States, a monetary...

Persistent link: https://www.econbiz.de/10014084756

The European Monetary Union after COVID-19 : Towards Fiscal Integration Aligned with Monetary Policy

van Riet, Ad - 2020

eurozone in order to anchor financial integration and facilitate the implementation of monetary policy. Third, euro area … stabilise the eurozone in the more challenging economic and financial circumstances since 2008 was and still is missing ….This paper argues that euro area governments could build on the cooperative model of Europe’s economic response to the COVID-19 …

Persistent link: https://www.econbiz.de/10014089829

The Safety Demand and Common Fiscal Policy in a Monetary Union

Soons, Oscar - 2022

. I analyse a two-country monetary union where governments supply an insufficient amount of public safety since they do … spending funded by common debt can result in a Pareto improvement as it increases the safety supply and discourage inefficient …

Persistent link: https://www.econbiz.de/10013307024

Risk Sharing in a Politically Divided Monetary Union

Parsley, David C.; Popper, Helen - 2021

We document stark asynchronicity across U.S. states, particularly across groups of states whose populations have voted consistently Democrat or consistently Republican in national elections; and we show that their risk-sharing channels differ substantially. However, we find that these groups of...

Persistent link: https://www.econbiz.de/10013233304

The term structure of interest rates in a heterogeneous monetary union

Costain, James; Nuño, Galo; Thomas, Carlos - 2022

can account for the asymmetric shifts in euro area yields during the Covid-19 pandemic. We derive an affine term structure …

Persistent link: https://www.econbiz.de/10013285648

Fiscal transfers and common debt in a Monetary Union : a multi-country agent based-stock flow consistent model

Caiani, Alessandro; Catullo, Ermanno - 2023

to provide beneficial effects when facing a supply shock to production. …

Persistent link: https://www.econbiz.de/10014283578

Chapter 13. The Microstructure of Housing Markets : Search, Bargaining, and Brokerage

Han, Lu; Strange, William C. - In: Handbook of regional and urban economics : volume 5, (pp. 813-886). 2015

This chapter surveys the literature on the microstructure of housing markets. It considers one-sided search, random matching, and directed search models. It also examines the bargaining that takes place once a match has occurred, with the bargaining taking various forms, including two-party...

Persistent link: https://www.econbiz.de/10014025302

Calibrating Macroprudential Policies in Europe Amid Rising Housing Market Vulnerability

Valderrama, Laura - 2023

Housing market developments are in the spotlight in Europe. Over-stretched valuations amid tightening financial conditions and a cost-of-living crisis have increased risks of a sustained downturn and exposed challenging trade-offs for macroprudential policy between ensuring financial system...

Persistent link: https://www.econbiz.de/10014355770

Unconventional Monetary Policy in a Financially Heterogeneous Monetary union

Schwanebeck, Benjamin - 2017

The cross-country interbank market in the euro area was a crucial transmission channel of financial stress. By using a …

Persistent link: https://www.econbiz.de/10011773490