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Fiscal policy and liquidity traps with heterogeneous agents
Piergallini, Alessandro - In: Economics letters 157 (2017), pp. 103-106
Persistent link: https://www.econbiz.de/10011847323
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Harnessing Windfall Revenues : Optimal Policies for Resource-Rich Developing Economies
van der Ploeg, Rick - 2009
, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We … show that the permanent income hypothesis prescription of an ever-lasting increase in consumption financed by borrowing … is large relative to initial foreign debt, is it optimal to build a SWF. The optimal time profile of consumption is …
Persistent link: https://www.econbiz.de/10012764524
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Fiscal Policy and Dutch Disease
van der Ploeg, Rick - 2021
In this paper we revisit the Dutch disease paying particular attention to the role of specific factors of production and capital stock dynamics. The main insight is that if the natural resource rich windfall is substantial but not large enough for the country to become a rentier, capital goods...
Persistent link: https://www.econbiz.de/10013316031
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Fiscal Divergence and Current Account Imbalances in Europe
Schnabl, Gunther - 2013
Since the breakdown of the Bretton Woods System diverging current account positions in Europe have prevailed. While the Southern and Western European countries have tended to run current account deficits, the current accounts of the Central and Northern European countries, in particular Germany,...
Persistent link: https://www.econbiz.de/10013086602
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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
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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 …
Persistent link: https://www.econbiz.de/10013315437
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On the importance of the measurement of consumption in tests of Ricardian equivalence
Graham, Fred C. - In: Economics letters 38 (1992) 4, pp. 431-434
Persistent link: https://www.econbiz.de/10001125458
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Endogenous market structures in the credit market and Ricardian equivalence
Etro, Federico - In: Economics letters 140 (2016), pp. 14-18
Persistent link: https://www.econbiz.de/10011615751
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Economic and Politico-Economic Equivalence of Fiscal Policies
Gonzalez-Eiras, Martín - 2012
We extend 'economic equivalence' results, like the Ricardian equivalence proposition, to the political sphere where policy is chosen sequentially. We derive conditions under which a policy regime (summarizing admissible policy choices in every period) and a state are 'politico-economically...
Persistent link: https://www.econbiz.de/10013111478
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Estimating the Effects of Coordinated Fiscal Actions in the Euro Area
Hebous, Shafik - 2012
We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted...
Persistent link: https://www.econbiz.de/10013101197