Results 11 to 20 of about 74,591 (47)

Fiscal Policy, Relative Prices, and Net Exports in a Currency Union

American Economic Journal: Macroeconomics, 2023
The hoped-for silver lining of euro-area austerity programs was to raise external competitiveness and improve current accounts. Using product- and industry-level data for 12 countries over the period 1999–2018, we show that reductions in government ...
Luisa Lambertini, C. Proebsting
semanticscholar   +1 more source

What Makes Discretionary Counter-Cyclical Fiscal Policy so Difficult? An Analysis of 32 OECD Countries

CESifo Economic Studies, 2023
We examine the stance of fiscal policy for 32 OECD countries from 1986 to 2023 by comparing for each country-year observation the signs of the output gap and the change in the cyclically adjusted budget balance.
J. de Haan, Bram Gootjes
semanticscholar   +1 more source

The Dynamic Response of Municipal Budgets to Revenue Shocks

Social Science Research Network
We study the fiscal and tax response to intergovernmental grants, exploiting quasi-experimental variation within Germany's fiscal equalization scheme triggered by census revisions of population counts. Municipal budgets do not adjust instantly.
I. Helm, Jan Stuhler
semanticscholar   +1 more source

Government Spending Multipliers Under the Zero Lower Bound: Evidence from Japan

American Economic Journal: Macroeconomics, 2016
Using a rich dataset on government spending forecasts in Japan, we provide new evidence on the effects of unexpected changes in government spending when the nominal interest rate is near the zero lower bound (ZLB).
Wataru Miyamoto, T. Nguyen, D. Sergeyev
semanticscholar   +1 more source

One Scheme Fits All: A Central Fiscal Capacity for the Emu Targeting Eurozone, National and Regional Shocks

Social Science Research Network
This paper proposes a central fiscal capacity for the euro area that generates transfers in response to euro area, country, and region-specific shocks.
R. Beetsma, Jacopo Cimadomo, Josha Van Spronsen   +2 more
semanticscholar   +1 more source

The Young, the Old, and the Government: Demographics and Fiscal Multipliers

American Economic Journal: Macroeconomics, 2018
We document that government spending multipliers depend on the population age structure. Using the variation in military spending and birth rates across US states, we show that the local fiscal multiplier is 1.5 and increases with the population share of
Henrique S. Basso, Omar Rachedi
semanticscholar   +1 more source

Does Government Spending Crowd in Private Consumption?: Theory and Empirical Evidence for the Euro Area

Social Science Research Network, 2005
In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households.
G. Coenen, Roland Straub
semanticscholar   +1 more source

Electoral Cycles in Fiscal Rules: International Empirical Evidence

CESifo Economic Studies
Using panel data from 99 countries over the period of 1985–2020, this study aims to uncover that fiscal rules work in electoral cycles. The results show that fiscal rules are less likely to be implemented in the pre-election year.
H. Jung, Bong Hwan Kim
semanticscholar   +1 more source

The Costs of Corporate Tax Complexity

American Economic Journal: Economic Policy, 2018
Does tax code complexity alter corporate behavior? We investigate this question by studying the decision to claim refunds for tax losses. In a sample of 1.2 million observations from the population of corporate tax returns, only 37 percent of eligible ...
Eric Zwick
semanticscholar   +1 more source

The Paradox of Global Thrift

The American Economic Review, 2018
This paper describes a paradox of global thrift. Consider a world in which interest rates are low and monetary policy is constrained by the zero lower bound. Now imagine that governments implement prudential financial and fiscal policies to stabilize the
Luca Fornaro, F. Romei
semanticscholar   +1 more source