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Long-Term Growth and Productivity Projections in Advanced Countries

Cette, Gilbert - 2017

shocks, for different speeds of regulation and education convergence, with endogenous capital growth and TFP convergence … or secular stagnation with those of regulation and education convergence or of absence of reforms. Over the 2015 … implementation of regulation reforms, the increase in education and on the distance to the country-specific convergence target …

Persistent link: https://www.econbiz.de/10012964845

Fiscal Policy in a Tractable Liquidity-Constrained Economy

Challe, Edouard - 2010

In this paper, we analyse the effects of transitory fiscal expansions when public debt is used as liquidity by the private sector. Aggregate shocks are introduced into a tractable flexible-price, incomplete-market economy where heterogenous, infinitely-lived agents face occasionally binding...

Persistent link: https://www.econbiz.de/10013136914

Insulation Impossible : Monetary Policy and Regional Fiscal Spillovers in a Federation

Cooper, Russell - 2010

This paper studies the effects of monetary policy rules in a fiscal federation, such as the European Union. The focus of the analysis is the interaction between the fiscal policy of member countries (regions) and the monetary authority. Each of the countries structures its fiscal policy...

Persistent link: https://www.econbiz.de/10013137047

Monetary Rules and the Spillover of Regional Fiscal Policies in a Federation

Cooper, Russell - 2010

Persistent link: https://www.econbiz.de/10013138210

Are the Effects of Fiscal Changes Different in Times of Crisis and Non-Crisis? The French Case

Bouthevillain, Carine - 2010

This paper shows that the impact of changes in budgetary variables on major macroeconomic variables varies in sign and magnitude in times of crisis and non-crisis in France. We find that these nonlinearities are both frequent (as they exist on all behaviors analyzed: real GDP, private...

Persistent link: https://www.econbiz.de/10013139576

A Pitfall with DSGE-Based, Estimated, Government Spending Multipliers

Fève, Patrick - 2012

This paper examines issues related to the estimation of the government spending multiplier (GSM) in a Dynamic Stochastic General Equilibrium context. We stress a potential source of bias in the GSM arising from the combination of Edgeworth complementarity/substitutability between private...

Persistent link: https://www.econbiz.de/10013106526

How Does Fiscal Consolidation Impact on Income Inequality?

Agnello, Luca - 2012

In this paper, we assess the impact of fiscal consolidation on income inequality. Using a panel of 18 industrialized countries from 1978 to 2009, we find that income inequality significantly rises during periods of fiscal consolidation. In addition, while fiscal policy that is driven by spending...

Persistent link: https://www.econbiz.de/10013106530

Procyclical Debt as Automatic Stabilizer

Wesselbaum, Dennis - 2013

This paper shows that government debt creates a so far neglected wealth effect that has sizable effects on business cycle fluctuations. We present a new channel through which governments can influence cyclical fluctuations generated by any type of shock and contribute to macroeconomic stability....

Persistent link: https://www.econbiz.de/10013076544

Should Euro Area Countries Cut Taxes on Labour or Capital in Order to Boost Their Growth?

Castelletti-Font, Barbara - 2017

The large imbalances within euro area have led to renew interest in tax policies that could reduce labour costs and thus improve competitiveness and growth. In this paper, we consider whether it would be more growth-enhancing for euro area countries to, instead, use capital income tax cuts. To...

Persistent link: https://www.econbiz.de/10012952415

Fiscal Devaluation and Structural Gaps

Langot, François - 2014

The paper characterizes the optimal tax scheme in an open economy with structural inefficiencies on the labor market and on government size. On analytical grounds first, we show that the economy can use fiscal revaluation to exploit the terms of trade externality and to dampen the impact of an...

Persistent link: https://www.econbiz.de/10013046392