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Hayo, Bernd; Uhl, Matthias - 2012

This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...

Persistent link: https://www.econbiz.de/10009534065

Housing market convergence: Evidence from Germany

Unal, Umut; Hayo, Bernd; Erol, Isil - 2022

This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset … that covers all the country's administrative districts. In addition to conventional tests for β-convergence and δ-convergence … districts. Our results reveal no evidence of convergence across Germany or within states; rather, we discover widespread …

Persistent link: https://www.econbiz.de/10014322584

Housing market convergence : evidence from Germany

Unal, Umut; Hayo, Bernd; Erol, Isil - 2022

This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset … that covers all the country's administrative districts. In addition to conventional tests for 𝛽-convergence and 𝜎-convergence … districts. Our results reveal no evidence of convergence across Germany or within states; rather, we discover widespread …

Persistent link: https://www.econbiz.de/10013460037

Political Leaders’ Socioeconomic Background and Fiscal Performance in Germany

Hayo, Bernd; Neumeier, Florian - Volkswirtschaft Abteilung, Fachbereich … - 2011

This paper investigates whether the socioeconomic status of the head of government helps explain fiscal performance. Applying sociological research that attributes differences in people’s ways of thinking and acting to their relative standing within society, we test whether the social status...

Persistent link: https://www.econbiz.de/10009369305

The Debt Brake in the Eyes of the German Population

Hayo, Bernd; Neumeier, Florian - Volkswirtschaft Abteilung, Fachbereich … - 2014

In response to the recent sovereign debt crisis, the member states of the European Union agreed to enact balanced budget rules in their national legislation. However, little is known about the public’s opinion of balanced budget rules. To fill this gap, we conducted a survey among 2,000...

Persistent link: https://www.econbiz.de/10010890077

Public Preferences for Government Spending Priorities: Survey Evidence from Germany

Hayo, Bernd; Neumeier, Florian - Volkswirtschaft Abteilung, Fachbereich … - 2014

Employing data from a representative survey conducted in Germany, this paper examines public preferences for the size and composition of government expenditure. We focus on public attitudes toward taxes, public debt incurrence, and public spending in six different policy areas. Our findings...

Persistent link: https://www.econbiz.de/10010960032

The effects of legislated tax changes in Germany

Hayo, Bernd; Uhl, Matthias - 2011

This paper studies the short-run macroeconomic effects of legislated tax changes in Germany using a vector autoregression (VAR) approach. Identification of the tax shock follows the narrative approach recently proposed by Romer and Romer (2010). Results indicate a moderate, but statistically...

Persistent link: https://www.econbiz.de/10010286390

Political leaders' socioeconomic background and fiscal performance in Germany

Hayo, Bernd; Neumeier, Florian - 2011

This paper investigates whether the socioeconomic status of the head of government helps explain fiscal performance. Applying sociological research that attributes differences in people's ways of thinking and acting to their relative standing within society, we test whether the social status of...

Persistent link: https://www.econbiz.de/10010286424

Stock Market Reactions to Legislated Tax Changes: Evidence from the United States, Germany, and the United Kingdom

Hayo, Bernd; Mierzwa, Sascha - 2020

We study the effect of tax policy on stock market returns in the United States, Germany, and the United Kingdom using GARCH models and a unique daily dataset of legislative tax changes during the period 1 December 1978 to 31 January 2018. We find that days of discretionary tax legislation during...

Persistent link: https://www.econbiz.de/10012543679

The Effect of Legislated Tax Changes on the Trade Balance: Empirical Evidence for the United States, Germany, and the United Kingdom

Hayo, Bernd; Mierzwa, Sascha - 2021

Using a narrative account of quarterly discretionary changes in tax liabilities from 1974Q4 to 2018Q2 in a VAR setting, we study whether legislative tax changes affect the trade balance in the United States, Germany, and the United Kingdom. As legislative tax changes we consider (i) all changes,...

Persistent link: https://www.econbiz.de/10012543684