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by increasing public expenditure in infrastructure. The results of this study support the complementarity hypothesis …
Persistent link: https://www.econbiz.de/10011135980
Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modeling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy...
Persistent link: https://www.econbiz.de/10004961429
Recent evaluations of the fiscal stimulus packages enacted in 2009 in the United States and Europe such as Cogan, Cwik, Taylor and Wieland (2009) and Cwik and Wieland (2009) suggest that the GDP effects will be modest due to crowding-out of private consumption and investment. Corsetti, Meier and...
Persistent link: https://www.econbiz.de/10008502581
Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modelling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy...
Persistent link: https://www.econbiz.de/10005248740
This Paper is an empirical study on the existence of complementarity between product and process innovation. We present … the existence of complementarity among production and innovation strategies. We apply the model to analyse the Spanish … significant complementarity between product and process innovation. We are able to separate the nature of complementarity …
Persistent link: https://www.econbiz.de/10005123646
Persistent link: https://www.econbiz.de/10014372222
Persistent link: https://www.econbiz.de/10013433215
Most studies on private investment focus either on macroeconomic conditions or sociopolitical climate to explain private investment patterns. We go a step further and examine empirically the joint effect of macroeconomic uncertainty, sociopolitical instability and public provision on private...
Persistent link: https://www.econbiz.de/10011213110
In earlier work we documented two episodes in which a sharp fiscal consolidation was associated with a surprisingly large expansion in private domestic demand. In this paper we draw on further evidence to investigate if and when fiscal policy changes can have such non-Keynesian effects. In the...
Persistent link: https://www.econbiz.de/10005136472
Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects investment and growth, in practice tax policy is ineffective as an instrument to promote growth. This paper provides evidence to support this view by examining the predictions...
Persistent link: https://www.econbiz.de/10005136639