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Stimulus through insurance : the marginal propensity to repay debt
Kosar, Gizem; Melcangi, Davide; Pilossoph, Laura; … - 2024
Using detailed micro data, we document that households often use "stimulus" checks to pay down debt, especially those with low net wealth-to-income ratios. To rationalize these patterns, we introduce a borrowing price schedule into an otherwise standard incomplete markets model. Because interest...
Persistent link: https://www.econbiz.de/10015080992
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Fiscal Stimulus and Distortionary Taxation
Drautzburg, Thorsten - 2012
We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary taxation. The...
Persistent link: https://www.econbiz.de/10013114666
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Fiscal Stimulus and Distortionary Taxation
Drautzburg, Thorsten - 2011
We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (Smets and Wouters, 2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary...
Persistent link: https://www.econbiz.de/10013123780
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Fiscal Stimulus and Distortionary Taxation
Drautzburg, Thorsten - 2014
First Draft: January 2, 2010This Draft: November 13, 2013We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (2007) New Keynesian model, allowing for credit-constrained households, the zero lower...
Persistent link: https://www.econbiz.de/10013062095
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Fiscal stimulus and distortionary taxation
Drautzburg, Thorsten; Uhlig, Harald - 2011 - This revision: May 30, 2011
We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (Smets and Wouters, 2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary...
Persistent link: https://www.econbiz.de/10009129765
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What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
Afonso, António - 2007
cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006) …
Persistent link: https://www.econbiz.de/10012775987
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What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
Afonso, António - 2010
cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within sub-periods (1970-1991 and 1992-2006) …
Persistent link: https://www.econbiz.de/10012757603
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What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic
Afonso, António; Rault, Christophe - 2021
, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also … apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee and Carrion … panel set, and within some sub-periods …
Persistent link: https://www.econbiz.de/10013316576
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What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
Rault, Christophe; Afonso, Antonio - 2008
cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006) …
Persistent link: https://www.econbiz.de/10014220770
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Fiscal Sustainability in the EU : A Panel Data Diagnostic
Afonso, António - 2012
cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within sub-periods (1970-1991 and 1992-2006) …
Persistent link: https://www.econbiz.de/10013111531