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government capital transfers. This allows a wider picture of the general government and intergovernmental relationships. The main …
Persistent link: https://www.econbiz.de/10012057055
Using an estimated large-scale New-Keynesian model, we assess welfare and business cycle consequences of a fiscal union within EMU. We differentiate between three different scenarios: public revenue equalisation, tax harmonisation and a centralised fiscal authority. Relative to the status quo,...
Persistent link: https://www.econbiz.de/10011546743
of intangible capital in the family sector. The model is calibrated to match European data on countries with a large …
Persistent link: https://www.econbiz.de/10010516542
This article demonstrates that the influence of government ideology on military expenditures is more nuanced than it was shown in previous research and using only aggregated military expenditures may provide ambiguous results. The disaggregation of military expenditures allows concluding that in...
Persistent link: https://www.econbiz.de/10014564979
Persistent link: https://www.econbiz.de/10013175322
This paper summarizes previous results on the productivity of public capital. In recent literature, Aschauer's (1989 …) estimate for the productivity of public capital is often considered too high and the size of the effect is still open to debate …. However, the positive effect of public capital on the productivity of the private sector is quite widely accepted. …
Persistent link: https://www.econbiz.de/10012503009
There is still hardly any empirical evidence on how divergent broadband technologies, and, by extension, bandwidth levels, influence GDP growth, or on the extent of spatial externalities at a regional level. Our study aims to assess the economic benefits of high-speed broadband networks within...
Persistent link: https://www.econbiz.de/10012029109
Firms' investment decisions involve analyzing prices, products, technologies, productive capacity and the availability of credit. These and other factors were greatly impacted by the 2009 post-crisis economic environment in Brazil. We measure the after crisis impacts of subsidized credit on the...
Persistent link: https://www.econbiz.de/10012061259
Independent and high-quality evaluations of government policies are an important input for designing evidence-based policy. Lack of incentives and institutions to write such evaluations, on the other hand, carry the risk of turning the system into a costly beauty contest. We study one of the...
Persistent link: https://www.econbiz.de/10014574916
established by Piketty (2001, 2003). The disappearance of capital income from the income tax base in many countries poses a major … including capital gains to 2010, and the series excluding capital gains to 2008. Second, we derive three homogeneous series by … simulating legislative definitions of capital income prevailing in Germany between 2001 and 2010. For both simulation and the …
Persistent link: https://www.econbiz.de/10010429894