a fixed exchange rate regime; and/or (iii) with higher quality of institutions. Our analysis could not confirm any … analysis-based on the local projection method-finds that the output effects in LICs are markedly lower than those in AEs and … spending shocks, it is thus important to consider the state of the economy and the country's structural characteristics. Our …

a fixed exchange rate regime; and/or (iii) with higher quality of institutions. Our analysis could not confirm any … analysis-based on the local projection method-finds that the output effects in LICs are markedly lower than those in AEs and … spending shocks, it is thus important to consider the state of the economy and the country's structural characteristics. Our …

capital gains or the progressivity of tax rates did not account for significant differences in revenue elasticities across …The high degree of fiscal stress experienced by state governments in the 2001 and the 2007-2009 recessions has prompted … greater cyclical sensitivity in the 2000s than in the 1980s and 1990s. In addition, during the 2000s personal income tax …

that in the New Keynesian model, the zero bound on nominal interest rates is not a relevant constraint on both fiscal and … that in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner …. There is no need to use inefficient policies such as wasteful public spending or future commitments to inflate. We conclude …

that in the New Keynesian model, the zero bound on nominal interest rates is not a relevant constraint on both fiscal and … that in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner …. There is no need to use inefficient policies such as wasteful public spending or future commitments to inflate. We conclude …

downturn or the slow recovery. These studies include only one type of capital taxation: a business profits tax. The … include taxes on dividends, property, capital stock, and excess and undistributed profits predicts patterns of output …, investment, and hours worked more like those in the 1930s than found in earlier studies. The greatest effects come from the …

, high inflation as a consequence of bad or no policy can affect production in the long run and thereby income (see … and social insurance issues, but not the business cycle (see Taylor 2000). In this paper we use a stochastic, Neo … level, and not vice versa. The model economy consists of identical and infinitely lived households, firms, a government …

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 4. Steuerpolitik: Das Richtige tun – das Falsche unterlassen . . . . . . . . . . 30 5. Effizienz der Finanz- und … . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 5. Euro-Raum mit verhaltener Konjunktur . . . . . . . . . . . . . . . . . . . . . . . . 58 6. Weiterhin günstige … . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 II. Konjunktur in Deutschland bleibt labil . . . . . . . . . . . . . . . . . . . . . . . . 66 1. Potentialwachstum …

Entwicklung im Jahr 2005: Konjunktur- hoffnungen ruhen auf der Belebung der Binnenwirtschaft . . . . . . . . . . 15 III. Erfolge … Preisniveauentwicklung: Dominiert von Sondereffekten . . . . . . . . . . . 146 Exkurs: Auswirkungen von Ölpreisschocks auf Konjunktur und …

The economic literature often argues that basic income schemes and low wage subsidies to employees are just special …. This paper investigates the different target groups and the particular implications on government budget and labour supply … this number by only 10%. These differences explain why wage subsidy programs can be financed and evoke positive labour …