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In a New Keynesian DSGE model with non-Ricardian consumers, we show that automatic stabilization according to a countercyclical spending rule following the idea of the debt brake is well suited both to steer the economy and in terms of welfare. In particular, the adjustment account set up to...
Persistent link: https://www.econbiz.de/10010298840
This paper analyses the effects of discretionary fiscal policy by presenting new empirical evidence for Germany within a structural vector autoregression (SVAR) framework. Following Blanchard and Perotti (2002), the SVAR model is identified by applying institutional information. We find no...
Persistent link: https://www.econbiz.de/10010289010
Konjunktur, denn die dortige NullCovid-Strategie zwingt Teile der Wirtschaft immer wieder in den Lockdown, und eine …
Persistent link: https://www.econbiz.de/10013368856
Der Ausblick auf die internationale Konjunktur 2023 ist verschattet: Die Energieversorgung Europas ist ungewiss, die … kommen von hohen Energiepreisen und einem verschlechterten Finanzierungsumfeld. Bislang ist die Konjunktur robust, die … Konjunktur bislang recht robust, und die Produktion hat bis in den Herbst hinein expandiert. Im Winter, wenn der …
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Keynesian theory suggests that a reduction in government expenditure has a negative effect on private demand and therefore on output. Contrary, neoclassical theory argues that reduced public expenditure makes room for an expansion of the private sector and thus has a stimulating effect on the...
Persistent link: https://www.econbiz.de/10011540071
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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