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Cauvel, Michael - In: European journal of economics and economic policies : … 20 (2023) 2, pp. 183-246

This paper examines the relationship between aggregate demand and the wage share in the US using a vector autoregression methodology. It finds evidence of Goodwin-cycle effects - that is, profit-led demand and a profit-squeeze effect - in baseline estimates using assumptions traditionally used...

Persistent link: https://www.econbiz.de/10014433724

Classical and Keynesian Models of Inequality and Stagnation

Rada, Codrina; Tavani, Daniele; von Arnim, Rudiger; … - 2022

This paper studies two formal models of long run growth with a medium-run distributive cycle, both of which feature causal links from the rise in inequality to a deterioration of long run macroeconomic performance. Both versions feature an endogenous income-capital ratio: one through the...

Persistent link: https://www.econbiz.de/10014243057

Debunking the granular origins of aggregate fluctuations : from real business cycles back to Keynes

Dosi, Giovanni; Napoletano, Mauro; Roventini, Andrea; … - 2018

sort of microfounded Keynesian multiplier. …

Persistent link: https://www.econbiz.de/10011873811

The impact of fiscal policy on economic activity over the business cycle : evidence from a threshold VAR analysis

Baum, Anja; Koester, Gerrit B. - 2011

linear benchmark SVAR, the analysis finds that hiking spending yields a short-term fiscal multiplier of around 0.70, while … the fiscal multiplier resulting from an increase in taxes and social security contributions is -0.66. In addition, the …

Persistent link: https://www.econbiz.de/10008936115

Cyclical Variation in the Government Spending Multipliers : A Markov-switching SVAR Approach

Lyu, Yifei - 2019

spending multipliers. We show that the multiplier values are statistically larger during recessions than during expansions …

Persistent link: https://www.econbiz.de/10012900667

The euro area government spending multiplier in demand- and supply-driven recessions

Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2022

inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

Persistent link: https://www.econbiz.de/10013174156

Reassessment of the fiscal multiplier in developing countries : regime-switching model

Hlaváček, Michal; Ismayilov, Ilgar; Zeynalov, Ayaz - 2020

The existing literature on fiscal policy has mainly employed linear models that found a small fiscal multiplier in …, linear models are not capable of distinguishing the size of the fiscal multiplier in different phases of economic cycles …. Responding to some recent studies that confirm regime dependency of a fiscal multiplier, our model enriches the literature of …

Persistent link: https://www.econbiz.de/10012205597

Estimating fiscal multipliers in the Eurozone : a nonlinear panel data approach

Perdichizzi, Salvatore - 2017

During the sovereign debt crisis, all euro countries have deployed "austerity packages", believing that they could regain the path of growth implementing structural reforms and cutting government spending. Such policies should have led to an initial decline in GDP followed by recovery and a...

Persistent link: https://www.econbiz.de/10011776481

Reassessment of the fiscal multiplier in developing countries : regime-switching model

Hlaváček, Michal; Ismayilov, Ilgar; Zeynalov, Ayaz - 2020

The existing literature on fiscal policy has mainly employed linear models that found a small fiscal multiplier in …, linear models are not capable of distinguishing the size of the fiscal multiplier in di↵erent phases of economic cycles …. Responding to the previous studies that confirm regime dependency of a fiscal multiplier, our model enriches the literature of …

Persistent link: https://www.econbiz.de/10014532627

The euro area government spending multiplier in demand- and supply-driven recessions?

Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2023

inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …

Persistent link: https://www.econbiz.de/10014364021