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Changes in the Response of Fiscal Policy to Monetary Policy in the EMU
Arora, Sanchit; Reicher, Claire - Institut für Weltwirtschaft (IfW) - 2014
We study the evolution of the response of scal policy to monetary policy shocks in the EMU in the light of two important events: the signing of the Maastricht treaty in 1992 and the introduction of the EMU in 1999. Based on impulse responses from a panel VAR, we nd that scal and monetary policy...
Persistent link: https://www.econbiz.de/10011093913
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Exit Strategies
Angeloni, Ignazio; Faia, Ester; Winkler, Roland - Institut für Weltwirtschaft (IfW) - 2011
We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using the model of Angeloni and Faia (2010), that combines a standard DSGE framework with a fragile banking sector, suitably modified and calibrated for the euro area. Credibly announced and fast fiscal...
Persistent link: https://www.econbiz.de/10008794544
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Capital Mobility and the Effectiveness of Fiscal Policy in Open Economies
Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2003
This paper uses a dynamic general equilibrium two-country optimizing ‘new-open economy macroeconomicsÂ’ model to …
Persistent link: https://www.econbiz.de/10005700505
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Liquidity Traps, Learning and Stagnation
Evans, George; Guse, Eran; Honkapohja, Seppo - Institut für Weltwirtschaft (IfW) - 2007
We examine global economic dynamics under learning in a New Keynesian model in which the interest-rate rule is subject to the zero lower bound. Under normal monetary and fiscal policy, the intended steady state is locally but not globally stable. Large pessimistic shocks to expectations can lead...
Persistent link: https://www.econbiz.de/10005700647
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Finanzpolitik in Deutschland: Herausforderungen und Lösungswege
Boss, Alfred - Institut für Weltwirtschaft (IfW) - 2009
In many countries, fiscal policy became strongly expansionary in order to fight the recession. Structural budget deficits increased sharply and might remain high after the end of the recession. This would raise real interest rates and would impair economic growth. Some measures to reduce the...
Persistent link: https://www.econbiz.de/10005026902
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Labour market returns to higher education in Vietnam
Doan, Tinh - Institut für Weltwirtschaft (IfW) - 2011
the Vietnam Household Living Standards Survey (VHLSS) to estimate return to the four-year university education in 2008 …
Persistent link: https://www.econbiz.de/10009493748
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Evolution of competition in Vietnam industries over the recent economic transition
Doan, Tinh - Institut für Weltwirtschaft (IfW) - 2012
impact of economic reform and competition on economic growth in Vietnam during the economic transition. In this paper, the … author investigates the evolution of competition in Vietnam during the economic transition using the price-cost margin (PCM … competition across selected industries in Vietnam in the last decade using firm-level data from the Vietnam Enterprise Census (VEC …
Persistent link: https://www.econbiz.de/10009646510
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Finanzpolitische Maßnahmen zugunsten von Familien ; Eine Bestandsaufnahme für Deutschland
Rosenschon, Astrid - Institut für Weltwirtschaft (IfW) - 2006
This paper takes stock of German public support measures in favour of families. The database comprises benefits from family-specific norms of tax law as well as cash and in-kind transfers both from public budgets (federal, states’ and local layer) and from the social insurance system...
Persistent link: https://www.econbiz.de/10005755120
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Ist die Finanzpolitik der Bundesländer nachhaltig?
Rosenschon, Astrid - Institut für Weltwirtschaft (IfW) - 2003
The paper deals with the issue in how far the fiscal policy of the German Laender can be considered as sustainable. Comparing the fiscal policy stance and budgets of the 16 German states, only Bavaria and Saxony are pursuing a fiscal policy which may be labelled as sustainable. The other states...
Persistent link: https://www.econbiz.de/10005755185
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Finanzhilfen der Länder in den Jahren 2000 bis 2007 – eine Aktualisierung
Rosenschon, Astrid - Institut für Weltwirtschaft (IfW) - 2008
Die Finanzhilfen der Länder und ihrer Gemeinden waren im Jahr 2007 in weiter Abgrenzung mit (geplanten) 61,3 Mrd. Euro deutlich niedriger als im Jahr 2000 (65 Mrd. Euro). Ohne Grenzfälle gerechnet ergibt sich ein analoger Verlauf auf einem zwischen 4 und 5 Mrd. Euro niedrigeren Niveau. Mit...
Persistent link: https://www.econbiz.de/10005700504