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We investigate to what extent convergence in production levels per worker has been achieved in Germany since …
Persistent link: https://www.econbiz.de/10008725876
This paper analyses the effects of discretionary fiscal policy by presenting new empirical evidence for Germany within a structural vector autoregression (SVAR) framework. Following Blanchard and Perotti (2002), the SVAR model is identified by applying institutional information. We find no...
Persistent link: https://www.econbiz.de/10008924682
In recent contributions, Weizsäcker (2014) and Summers (2014) maintain that mature economies accumulate too much capital. They suggest large and lasting public deficits as a remedy. This paper argues that overaccumulation cannot occur in an economy with land. It presents novel data of aggregate...
Persistent link: https://www.econbiz.de/10010769219