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Austerity in 2009-2013

Alesina, Alberto F; Barbiero, Omar; Favero, Carlo A.; … - C.E.P.R. Discussion Papers - 2015

The conventional wisdom is (i) that fiscal austerity was the main culprit for the recessions experienced by many countries, especially in Europe, since 2010 and (ii) that this round of fiscal consolidation was much more costly than past ones. The contribution of this paper is a clarification of...

Persistent link: https://www.econbiz.de/10011145403

Trust in Public Institutions over the Business Cycle

Stevenson, Betsey; Wolfers, Justin - C.E.P.R. Discussion Papers - 2011

the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial … sector. Finally, analysis of several repeated cross-sections of confidence within U.S. states yields similar qualitative …

Persistent link: https://www.econbiz.de/10008925712

A model of the confidence channel of fiscal policy

Guimarães, Bernardo; Machado, Caio; Ribeiro, Marcel - C.E.P.R. Discussion Papers - 2014

This paper presents a simple macroeconomic model where government spending affects aggregate demand directly and indirectly, through an expectational channel. Prices are fully flexible and the model is static, so intertemporal issues play no role. There are three important elements in the model:...

Persistent link: https://www.econbiz.de/10011083612

The output effect of fiscal consolidations

Alesina, Alberto F; Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2012

different response of business confidence and private investment. We obtain these results by studying the effects of the …

Persistent link: https://www.econbiz.de/10011084635

Quantifying Confidence

Angeletos, George-Marios; Collard, Fabrice; Dellas, Harris - C.E.P.R. Discussion Papers - 2015

"confidence" and show that it helps account for many salient features of the data; it drives a significant fraction of the …

Persistent link: https://www.econbiz.de/10011186619

Volatile Top Income Shares in Switzerland? Reassessing the Evolution Between 1981 and 2009

Foellmi, Reto; Martínez, Isabel Z. - C.E.P.R. Discussion Papers - 2014

We study the recent evolution of top incomes in Switzerland, analyzing both social security data on labor incomes and ….01 percent’s share even doubled, putting Switzerland similar to European countries for the top 1 percent group but closer to the … suggests that labor incomes have become more important among top income earners in Switzerland. This is in line with findings …

Persistent link: https://www.econbiz.de/10011083290

Do Agglomeration Economies Reduce the Sensitivity of Firm Location to Tax Differentials?

Brülhart, Marius; Jametti, Mario; Schmidheiny, Kurt - C.E.P.R. Discussion Papers - 2007

Low corporate taxes can help attract new firms. This is the main mechanism underpinning the standard 'race-to-the-bottom' view of tax competition. A recent theoretical literature has qualified this view by formalizing the argument that agglomeration forces can reduce firms' sensitivity to tax...

Persistent link: https://www.econbiz.de/10005791554

Exploiting Regional Treatment Intensity for the Evaluation of Labour Market Policies

Fröhlich, Markus; Lechner, Michael - C.E.P.R. Discussion Papers - 2006

We estimate the effects of active labour market policies (ALMP) on subsequent employment by nonparametric instrumental variables and matching estimators. Very informative administrative Swiss data with detailed regional information are combined with exogenous regional variation in programme...

Persistent link: https://www.econbiz.de/10005792373

Competition Policy in Switzerland

Neven, Damien J; von Ungern-Sternberg, Thomas - C.E.P.R. Discussion Papers - 1996

This paper provides a critical review of competition policy in Switzerland. We analyse the legal statute, the …

Persistent link: https://www.econbiz.de/10005124301

Regional Treatment Intensity as an Instrument for the Evaluation of Labour Market Policies

Fröhlich, Markus; Lechner, Michael - C.E.P.R. Discussion Papers - 2004

The effects of active labour market policies (ALMP) on individual employment chances and earnings are evaluated by non-parametric instrumental variables based on Swiss administrative data with detailed regional information. Using an exogenous variation in the participation probabilities across...

Persistent link: https://www.econbiz.de/10005498153