Der Beitrag diskutiert die makroökonomischen Effekte von Änderungen bei Sozialausgaben und Einnahmen der Sozialversicherung auf das Bruttoinlandsprodukt, Konsum, Investitionen, Beschäftigung und weitere Größen. Er fasst unsere Ergebnisse aus einer umfangreicheren Studie (Gechert et al....

We construct a narrative dataset of net-revenue shocks for Germany by extending the tax shock series of Hayo and Uhl (2014) and coding a shock series for social security. We estimate the multiplier effects of shocks to taxes, social security contributions and benefits in a proxy SVAR framework...

Using the bottom-up approach of Romer and Romer (2010), we construct a rich narrative dataset of net-revenue fiscal shocks for Germany by reconstructing and extending the tax shock series of Hayo and Uhl (2014) and coding a shock series for social security contributions, benefits and transfers....

Exploiting official historical records of the German Bundestag and Bundesrat, the Federal Ministry of Labour and Social Affairs and the German statutory pension insurance scheme, we construct a narrative of legislated social security changes for Germany between 1970 and 2013 in order to identify...

Using the bottom-up approach of Romer and Romer (2010), we construct a rich narrative dataset of net-revenue fiscal shocks for Germany by reconstructing and extending the tax shock series of Hayo and Uhl (2014) and coding a shock series for social security contributions, benefits and transfers....

Exploiting official historical records of the German Bundestag and Bundesrat, the Federal Ministry of Labour and Social Affairs and the German statutory pension insurance scheme, we construct a narrative of legislated social security changes for Germany between 1970 and 2013 in order to identify...

Der Beitrag diskutiert die makroökonomischen Effekte von Änderungen bei Sozialausgaben und Einnahmen der Sozialversicherung auf das Bruttoinlandsprodukt, Konsum, Investitionen, Beschäftigung und weitere Größen. Er fasst unsere Ergebnisse aus einer umfangreicheren Studie (Gechert et al....

We analyze whether there are negative (positive) long-term effects of austerity measures (stimulus measures) on potential output growth. Based on the approach of Blanchard and Leigh (2013) and Fatás and Summers (2016) and using a novel dataset of narratively identified fiscal policy shocks, we...