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Inflation Expectations and Inflation Uncertainty in the Eurozone : Evidence from Survey Data

Arnold, Ivo J.M. - 2013

whether inflation uncertainty has diminished following the introduction of the Euro in Europe. Consumers' responses to the …. Regarding inflation uncertainty, the data indicate a relationship with country size, suggesting that within EMU, inflation … uncertainty may increase in countries that have a smaller influence on ECB policy …

Persistent link: https://www.econbiz.de/10012754359

The Impact of Uncertainty on the European Energy Market : A Scenario Aggregation Approach

Brekke, Kjell Arne - 2013

decision problems under uncertainty, is used to build a large stochastic numerical equilibrium model of the Western European … energy markets. We use the stochastic model to analyze the impact of economic and political uncertainty on the Western … European energy markets. We demonstrate that the equilibria under uncertainty differ significantly from the deterministic …

Persistent link: https://www.econbiz.de/10013072087

Unconventional Fiscal Policy

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2021

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We provide preliminary evidence for the effectiveness of such policies using changes in...

Persistent link: https://www.econbiz.de/10013315437

Saving Alberta's Resource Revenues : Role of Intergenerational and Liquidity Funds

Van Den Bremer, Ton - 2016

We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation,...

Persistent link: https://www.econbiz.de/10012979602

On the Fiscal Strategies of Escaping Poverty-Environment Traps (and) Towards Sustainable Growth

Dao, Thang Nguyen - 2014

An economy with clean and dirty intermediate inputs may fall into a trap characterized by low environmental quality and low life expectancy, while the others converge to opposite steady states. We propose new strategies towards sustainable growth. They include: (i) taxes (subsidies) imposed on...

Persistent link: https://www.econbiz.de/10013051269

Natural Disasters, Government Spending, and the Fiscal Multiplier

Fidrmuc, Jan - 2016

We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government spending in the U.S. states in the wake of natural disasters to capture spending shocks that are both unexpected and unrelated to the preceding state of the economy. We find that...

Persistent link: https://www.econbiz.de/10013000433

Euro Area SMEs Under Financial Constraints : Belief or Reality?

Artola, Concha - 2013

During the recent financial crisis, euro area firms, and especially Small and Medium-sized Enterprises, have been reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use two indicators of financing constraints based on...

Persistent link: https://www.econbiz.de/10013092075

Macroeconomic Effects of Fiscal Adjustment : A Tale of Two Approaches

Yang, Weonho - 2013

We investigate the short-term effects of fiscal adjustment on economic activity in 20 OECD countries from 1970 to 2009. We compare two approaches: the traditional approach based on changes in cyclically adjusted primary balance (CAPB) and the narrative approach based on historical records....

Persistent link: https://www.econbiz.de/10013075620

Using Military Build-Ups to Capture Fiscal Shocks : A Reassessment

Yang, Weonho - 2014

Ramey (2011a) and others argue that increases in government spending associated with wars and military build-ups constitute a good instrument for measuring the macroeconomic effects of fiscal shocks. We argue that this instrument has two important drawbacks: the composition of government...

Persistent link: https://www.econbiz.de/10013055995

Macroeconomic Effects of Government Spending Shocks : New Evidence Using Natural Disaster Relief in Korea

Yang, Weonho - 2012

GDP, private consumption, real wage and investment are all positive, which is in accord with the New Keynesian model …

Persistent link: https://www.econbiz.de/10013100013