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A news-based policy index for Italy : expectations and fiscal policy
Fantozzi, Daniela; Muscarnera, Alessio - 2021
Persistent link: https://www.econbiz.de/10012487974
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Managing pessimistic expectations and fiscal policy
Karantounias, Anastasios G. - 2012
This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive...
Persistent link: https://www.econbiz.de/10003914615
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Managing Pessimistic Expectations and Fiscal Policy
Karantounias, Anastasios G. - 2016
This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive...
Persistent link: https://www.econbiz.de/10013006051
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Managing Expectations and Fiscal Policy
Karantounias, Anastasios G. - 2013
This paper studies an optimal fiscal policy problem of Lucas and Stokey (1983) but in a situation in which the representative agent's distrust of the probability model for government expenditures puts model uncertainty premia into history-contingent prices. This situation gives rise to a motive...
Persistent link: https://www.econbiz.de/10013095529
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Do expectations matter? : reassessing the effect of government spending on key macroeconomic variables in Germany
Gründler, Klaus; Sauerhammer, Sarah - 2016
This paper investigates the effects of government spending on key macroeconomic variables in Germany. It contributes to the ongoing debate on how to properly identify exogenous fiscal shocks in the data and on whether or not the government should intervene in the business cycle. Following Ramey...
Persistent link: https://www.econbiz.de/10011525541
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A New Approach for the General Equilibrium Analysis. Increase of the Production and Employment with Monetary and Fiscal Boosts
Nomidis, Dimitrios - 2014
The purpose of this paper is to present an approach with regard to the dynamic process of the general equilibrium during the business cycle fluctuations following monetary and fiscal interventions, which, I think, could contribute to bridging the differences between the different schools of...
Persistent link: https://www.econbiz.de/10013053400
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Can we rely upon fiscal policy estimates in countries with unreported production of 15 per Cent (or more) of GDP?
Basile, Raffaella; Chiarini, Bruno; Marzano, Elisabetta - 2011
This paper analyzes the effects of fiscal policy in Italy by employing a database containing two statistical novelties …
Persistent link: https://www.econbiz.de/10009230776
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Fiscal policy, housing and stock prices
Afonso, António; Sousa, Ricardo M. - 2009
Sims and Zha (1999, 2006), the empirical evidence for the U.S., the U.K., Germany, and Italy shows that it is important to … Italy. -- Bayesian Structural VAR ; fiscal policy ; housing prices ; stock prices …
Persistent link: https://www.econbiz.de/10003826474
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The macroeconomic effects of fiscal policy
Afonso, António; Sousa, Ricardo M. - 2009
, fiscal data; and (vii) analyze empirical evidence from the U.S., the U.K., Germany, and Italy. The results show that …
Persistent link: https://www.econbiz.de/10003826480
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Combining Time-Variation and Mixed-Frequencies : An Analysis of Government Spending Multipliers in Italy
Cimadomo, Jacopo - 2015
, we use this model to study the macroeconomic effects of government spending shocks in Italy over the 1988Q4-2013Q3 period …. Italy - as well as most other euro area economies - is characterised by short quarterly time series for fiscal variables … output in Italy. The fiscal multiplier, which is maximized at the one year horizon, follows a U-shape over the sample …
Persistent link: https://www.econbiz.de/10013013646