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South-North convergence from a new perspective

Hübler, Michael - 2013

-North convergence based on North-South technology diffusion through intermediate goods trade is guaranteed if the knowledge effect … dominates the productivity effect. Moreover, a larger Southern market expands the area of convergence and can prevent divergence … convergence is desirable for both, the South and the North. …

Persistent link: https://www.econbiz.de/10010204037

Regional stabilization by fiscal equalization? : theoretical considerations and empirical evidence from Germany

Büttner, Thiess - 1999

In the context of EMU fiscal equalization schemes have been proposed as a means to stabilize regions against asymmetric shocks. A theoretical analysis shows that besides reducing the cross-sectional income variance the redistributive element of fiscal equalization causes incentive effects for...

Persistent link: https://www.econbiz.de/10011442662

Public investment in R&D in reaction to economic crises : a longitudinal study for OECD countries

Pellens, Maikel; Peters, Bettina; Hud, Martin; Rammer, … - 2018

The paper investigates the reaction of public R&D spending on economic crises. We are interested in two counteracting motives: On the one hand, public R&D spending can be seen as a means to fight the crisis, and governments may decide to increase their R&D budgets. On the other hand, a crisis...

Persistent link: https://www.econbiz.de/10011790390

An integrated assessment model with endogenous growth

Hübler, Michael; Baumstark, Lavinia; Leimbach, Marian; … - 2012

We introduce endogenous directed technical change into numerical integrated climate and development policy assessment. We distinguish expenditures on innovation (R&D) and imitation (international technology spillovers) and consider the role of capital investment in creating and implementing new...

Persistent link: https://www.econbiz.de/10009656602

The long-run effect of fiscal consolidation on economic growth : evidence from quantitative case studies

Kleis, Mischa; Moessinger, Marc-Daniel - 2016 - This version: November 2016

We contribute to the literature on the long-run effect of fiscal consolidation on economic growth by applying a novel method for quantitative case studies. Relying on a qualitative (narrative) definition of fiscal consolidations based on an examination of historical policy documents and using...

Persistent link: https://www.econbiz.de/10011576967

Housing booms and busts and local fiscal policy

Solé-Ollé, Albert; Viladecans Marsal, Elisabet - 2017

This paper examines how local governments adjust their spending, savings and taxes in response to a temporary revenue windfall generated by a housing boom and how they cope with the inevitable shortfall that appears during the bust. We focus on Spanish local governments given the intensity of...

Persistent link: https://www.econbiz.de/10011580820

Idiosyncratic risk, aggregate risk, and the welfare effects of social security

Harenberg, Daniel; Ludwig, Alexander - 2018 - This version: December 1, 2017

We ask whether a pay-as-you-go financed social security system is welfare improving in an economy with idiosyncratic productivity and aggregate business cycle risk. We show analytically that the whole welfare benefit from joint insurance against both risks is greater than the sum of benefits...

Persistent link: https://www.econbiz.de/10011816319

The long-run effect of fiscal consolidation on economic growth : evidence from quantitative case studies

Kleis, Mischa; Moessinger, Marc-Daniel - 2016

Persistent link: https://www.econbiz.de/10011490895

Growth and welfare maximization in models of public finance and endogenous growth

Misch, Florian; Gemmell, Norman; Kneller, Richard - 2011

This paper evaluates the trade-off between growth and welfare maximization from two perspectives. Firstly, it synthesizes and extends endogenous growth models with public finance to compare growth and welfare maximizing tax rates. Secondly, it examines the distinct model outcomes in terms of...

Persistent link: https://www.econbiz.de/10009159871

Fiscal policy and growth with complementarities and constraints on government

Misch, Florian; Gemmell, Norman; Kneller, Richard - 2011

This paper considers the implications of complementarity in private production and constraints on government for optimal fiscal policy. Using an endogenous growth model with public finance, it derives three central results which modify findings in the literature under standard assumptions....

Persistent link: https://www.econbiz.de/10008901822