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(Non-)Keynesian effects of fiscal austerity : new evidence from a large sample

Afonso, António; Alves, José; Huart, Florence - 2021

We empirically assess whether a usually expected negative response of private consumption and private investment to a fiscal consolidation is reversed. We focus on a large sample of 174 countries between 1970 and 2018. We also employ three alternative measures of the Cyclically Adjusted Primary...

Persistent link: https://www.econbiz.de/10012504460

Austerity Measures Impact on Entrepreneurship, Employment as Well as Income Distribution : A Panel Data Analysis in EU

Georgiou, Miltiades N. - 2012

In the present paper a discussion will be made about the crucial topic of fostering entrepreneurship as the cornerstone of capitalism (by avoiding too hard austerity measures and helping instead entrepreneurship in various ways) so as to make corporations profitable and ultimately create jobs,...

Persistent link: https://www.econbiz.de/10013096766

Monetary Developments and Expansionary Fiscal Consolidations : Evidence from the EMU

Afonso, António - 2014

Union, using annual panel data for 14 European Union countries over the period 1970-2012. Different measures for assessing … different budgetary components. Panel Fixed Effects estimations for private consumption show that, in some cases, when fiscal … not matched by monetary easing. Panel probit estimations suggest that longer and expenditure-based consolidations …

Persistent link: https://www.econbiz.de/10013050643

Frontiers of Macrofinancial Linkages

Claessens, Stijn - 2018

The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and...

Persistent link: https://www.econbiz.de/10012929483

Impact of COVID-19 on Financial Returns : A Spatial Dynamic Panel Data Model with Random Effects

Billé, Anna Gloria; Caporin, Massimiliano - 2021

Using data for most of the year 2020, we analysed the impact of COVID-19 deaths on a given country regarding the financial market returns of neighbouring countries. Our empirical evidence show that in the first weeks of the COVID-19 outbreak, until mid-March 2020, the spatial effect of COVID-19...

Persistent link: https://www.econbiz.de/10013310285

Panel Data Evidence on the Effects of Fiscal Impulses in the EU New Member States

Borys, Pawel - 2016

We identify fiscal impulses in the EU New Member States using four different methods and apply econometric panel data …

Persistent link: https://www.econbiz.de/10013006953

Different no more: country spreads in advanced and emerging economies

Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes; … - 2020

Interest-rate spreads fluctuate widely across time and countries. We illustrate this on the basis of about 3,100 quarterly observations for 21 advanced and 17 emerging economies since the early 1990s. Prior to the financial crisis, spread fluctuations in advanced economies are an order of...

Persistent link: https://www.econbiz.de/10012160079

Different no more : country spreads in advanced and emerging economies

Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes; … - 2020

Interest-rate spreads fluctuate widely across time and countries. We characterize their behavior using some 3,200 quarterly observations for 21 advanced and 17 emerging economies since the early 1990s. Before the financial crisis, spreads are 10 times more volatile in emerging economies than in...

Persistent link: https://www.econbiz.de/10012162762

Does Trade Openness Increase Firm-Level Volatility?

Buch, Claudia M. - 2016

Persistent link: https://www.econbiz.de/10012991165

The consumption response to minimum wages : evidence from Chinese households

Dautovic, Ernest; Hau, Harald; Huang, Yi - 2017

Persistent link: https://www.econbiz.de/10012201633

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