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Extending the open-economy loanable funds model, this paper finds that more government deficit as a percentage of GDP does not lead to a higher government bond yield. In addition, a higher real Treasury bill rate, a higher expected inflation rate, a higher EU government bond yield, or an...
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Der Artikel analysiert die zeitliche Entwicklung des Berliner Wohnimmobilienmarktes (2009–2014) mit Blick auf die Frage, ob es zu einer potenziellen Überhitzung gekommen ist. Dabei wird der empirische Wirkungszusammenhang zwischen der andauernden Niedrigzinspolitik der Europäischen...
Persistent link: https://www.econbiz.de/10011603917
We develop a dynamic recursive model where political and economic decisions interact, to study how excessive debt-GDP ratios affect political sustainability of prudent fiscal policies. Rent seeking groups make political decisions - to cooperate (or not) - on the allocation of fiscal budgets...
Persistent link: https://www.econbiz.de/10011302496
This paper attempts to analyze the role of taxes on property in containing asset bubbles and its consequent recessionary impact, by developing a framework, wherein the housing market is conceived as consisting of several sub-markets i.e. rental housing market, house resale market, new...
Persistent link: https://www.econbiz.de/10014185526
This study analyzes the State Budget (APBN) 2017 of Indonesia in Islamic economic perspective. The state budget is prepared using the rules of public economics consisting of state revenues, state expenditures, and budget financing has the posture of the budget, the issues of fiscal policy, and...
Persistent link: https://www.econbiz.de/10014123944
To what extent do bond market reactions to an unexpected deficit shock depend on state-specific politics? To answer this question, we calculate German state bond spreads over government benchmark paper using information from Datastream for the period 2006-2010. We test for a variety of...
Persistent link: https://www.econbiz.de/10012988100
All governments spend money. The classic “guns vs butter” debate illustrates the subject matter of this essay well: to what end do governments in developed nations spend their funds? Trends in public expenditure is a topic of particular interest in the aftermath of the year 2020, when many...
Persistent link: https://www.econbiz.de/10013220232