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(Un-)Sustinability of public finances in German Laender : a panel time series approach
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2015
This paper provides evidence that most German states (Laender) have unsustainable public finances by exploiting a newly compiled database covering the years 1950‐2011. Although the Laender are closely intertwined we are the first to apply “second generation” panel techniques that control...
Persistent link: https://www.econbiz.de/10011404634
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Fiscal federalism and income inequality : an empirical analysis for Switzerland
Feld, Lars P.; Frey, Christian; Schaltegger, Christoph A.; … - 2018
This paper analyzes the impact of fiscal federalism on income inequality and redistribution. Theoretically …
Persistent link: https://www.econbiz.de/10011942832
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Public sector budgets : a comparative study
Ott, Attiat F. (contributor) - 1993
Persistent link: https://www.econbiz.de/10013551439
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Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects : Evidence from German Federal States
Feld, Lars P. - 2018
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...
Persistent link: https://www.econbiz.de/10012917513
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Do public investments increase employment in a recession? : evidence from Germany ; conference paper
Buchheim, Lukas; Watzinger, Martin - 2013
In 2009, Germany invested 15.4 Billion Euro in infrastructure to avert the looming recession. In this study, we evaluate whether the German stimulus program was successful in limiting the impact of the crisis on the job market. We exploit exogenous cross-sectional variation to identify the...
Persistent link: https://www.econbiz.de/10010341046
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Fiscal federalism and income inequality : an empirical analysis for Switzerland
Feld, Lars P.; Frey, Christian; Schaltegger, Christoph A.; … - 2019
This paper analyzes the impact of fiscal federalism on income inequality and redistribution. Economic theory delivers … on the ideal institutional setting of federalism in Switzerland. According to our findings, decentralization actually …
Persistent link: https://www.econbiz.de/10012125277
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New Keynesian versus old Keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - 2009
estimated stimulus is extremely small with GDP and employment effects only one-sixth as large. -- Fiscal Multiplier ; New …
Persistent link: https://www.econbiz.de/10003887419
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New Keynesian versus old Keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B. - 2009
estimated stimulus is extremely small with GDP and employment effects only onesixth as large. -- Fiscal multiplier ; New …
Persistent link: https://www.econbiz.de/10003963764
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Fiscal stimulus and distortionary taxation
Drautzburg, Thorsten; Uhlig, Harald - 2011 - This revision: May 30, 2011
-run multipliers around 0.52 and modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of …. -- Fiscal Stimulus ; New Keynesian model ; liquidity trap ; zero lower bound ; fiscal multiplier … modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of transfers given to credit …
Persistent link: https://www.econbiz.de/10009129765
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The dynamics of municipal fiscal adjustment
Büttner, Thiess; Wildasin, David E. - 2002
The dynamic fiscal policy adjustment of local jurisdictions is investigated empirically using a panel of more than 1000 U.S. municipalities over a quarter of a century. Distinguishing own revenues, grants, expenditures, and debt service, the analysis is carried out using a vector error...
Persistent link: https://www.econbiz.de/10011408935