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Policy interventions to mitigate the long-run costs of Brexit

Oikonomidēs, Geōrgios; Malley, James R.; … - 2025

This paper examines the long-term macroeconomic impacts of Brexit on the UK economy employing a dynamic general equilibrium model that incorporates endogenous firm entry, price markups and market competition. By integrating the trade frictions introduced by Brexit, the model explains how...

Persistent link: https://www.econbiz.de/10015453985

The EU's new expenditure rule and its implications for monetary policy

Dimakopoulou, Vasilki; Oikonomidēs, Geōrgios; … - 2025

This paper investigates whether the new expenditure rule of the European Union (EU) can restore dynamic stability and determinacy with bounded public debt in an otherwise unstable economic environment. We build upon the standard New Keynesian dynamic general equilibrium model so as to compare...

Persistent link: https://www.econbiz.de/10015459469

The firm-level and aggregate effects of corporate payout policy

Asimakopoulos, Stylianos; Malley, James R.; … - 2024

This paper presents a novel study on the significance of corporate payout policy in shaping firms' financial decision-making and, in turn, the macroeconomy. To this end, we add to the literature by allowing households and firms to choose share buybacks optimally. We then explore the implications...

Persistent link: https://www.econbiz.de/10015101885

Repayment of EU bailout loans in a member-country of the ES : the case of Greece

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2024

This paper quanti.es the future implications of repayment of bailout loans received by Greece from the EU in the previous decade. These debt obligations amount today to 240 billion euros or 70% of the country’s total public debt and have to be repaid by 2070. This is investigated in a dynamic...

Persistent link: https://www.econbiz.de/10015134086

Can central banks do the unpleasant job that governments should do?

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2023

We investigate what happens when the fiscal authorities do not react to rising public debt so that the unpleasant task of fiscal sustainability falls upon the Central Bank (CB). In particular, we explore whether the CB's bond purchases in the secondary market can restore stability and...

Persistent link: https://www.econbiz.de/10014331713

Stimulating long-term growth and welfare in the U.S.

Malley, James R.; Philippopulos, Apostolēs - 2023

We develop an endogenous growth model to quantify how permanent structural policy changes that enhance the fiscal policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include increased public investment, reduced market power through...

Persistent link: https://www.econbiz.de/10014364961

The macroeconomic effects of funding U.S. infrastructure

Malley, James R.; Philippopulos, Apostolēs - 2022

This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure spending bill in a neoclassical growth model. We add to the literature by considering a more detailed tax structure, different types of infrastructure spending and linkages between...

Persistent link: https://www.econbiz.de/10012801569

The ECB's policy, the recovery fund and the importance of trust : the case of Greece

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2021

This paper, using a microfounded macroeconomic model that embeds the key features of the Greek economy, studies the efficacy of the various policy measures taken, at national and EU level, to cushion the economic effects of the pandemic shock. The paper attempts to give quantitative answers to...

Persistent link: https://www.econbiz.de/10012650611

Macroeconomic policy lessons for Greece from the debt crisis

Oikonomidēs, Geōrgios; Papageorgiou, Dimitris; … - 2020

This paper first searches for the drivers of the Greek depression in the aftermath of the 2007-8 global crisis and in turn looks for engines of sustained growth. We use a micro-founded macroeconomic model calibrated to Greece. Our simulations show that the adopted adjustment program (namely, the...

Persistent link: https://www.econbiz.de/10012195896

On the provision of excludable public goods general taxes or user prices?

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs - 2020

This paper compares some of the most common and debated ways of financing the provision of impure public goods/services in a unified dynamic general equilibrium framework. We study and rank a wide variety of ways ranging from provision without any user charges, to provision with full user...

Persistent link: https://www.econbiz.de/10012319430