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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/10010294366

Regional effects of federal tax shocks

Hayo, Bernd; Uhl, Matthias - 2012

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

Survey on New Zealanders' attitudes towards and knowledge of macroeconomic policy issues: Documentation of survey methodology and descriptive results

Hayo, Bernd; Neumeier, Florian - 2016

This paper provides background information and basic descriptive statistics for a representative survey of the New Zealand population conducted on our behalf by Research New Zealand in May 2016. The survey addresses important fiscal and monetary policy issues, including: (1) public preferences...

Persistent link: https://www.econbiz.de/10011537408

Political leaders' socioeconomic background and public deficits: Evidence from OECD countries

Hayo, Bernd; Neumeier, Florian - 2013

This paper empirically analyses the relationship between political leaders' socioeconomic backgrounds and public budget deficits utilising panel data on 21 OECD countries from 1980 to 2008. Building on sociological, as well as economic, research, we argue that the socioeconomic status of...

Persistent link: https://www.econbiz.de/10010294450

Leaders' impact on public spending priorities: The case of the German Laender

Hayo, Bernd; Neumeier, Florian - 2012

We examine determinants of the composition of public expenditure in the German Laender (states) over the period 1993-2008, as the Laender exhibit a high degree of institutional and political homogeneity and are endowed with extensive fiscal competences. Our prime contribution is an investigation...

Persistent link: https://www.econbiz.de/10010281474

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