Results 21 to 30 of about 81,894 (47)
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The Economic Consequences of Putting a Price on Carbon
Social Science Research Network, 2021How does carbon pricing affect the economy? Answering this question is crucial for governments to calibrate policies to fight climate change. Exploiting institutional features of the European carbon market and high-frequency data, I estimate the dynamic ...
D. Känzig
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The Government Spending Multiplier in a Multisector Economy
American Economic Journal: Macroeconomics, 2023We study the effects of aggregate government spending shocks in a production network economy where sectors differ in their price rigidity, factor intensities, use of intermediate inputs, and contribution to final demand.
Hafedh Bouakez, Omar Rachedi, E. Santoro
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The Long-Run Effects of Government Spending
The American Economic ReviewMilitary spending has large and persistent effects on output because it shifts the composition of public spending toward R&D. This boosts innovation and private investment in the medium term and increases productivity and GDP at longer horizons. Public R&
Juan Antolín-Díaz, P. Surico
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Fiscal Policy and the Government Balance Sheet in China
International Review of Economics & FinanceIn this paper, we present the most comprehensive estimates of China’s government balance sheet to date. Based on these estimates, we show how major shifts in fiscal policy over the last two decades have shaped the health of the public sector prior to the
W. Lam, M. Badia
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How Do Central Banks Control Inflation? A Guide for the Perplexed
Journal of Economic LiteratureCentral banks have a primary goal of price stability. They pursue it using tools that include the interest they pay on reserves, the size and the composition of their balance sheet, and the dividends they distribute to the fiscal authority.
L. Castillo-Martínez, R. Reis
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Fiscal Rules and the Selection of Politicians: Theory and Evidence from Italy
Social Science Research NetworkFiscal rules, or constraints on the policymaking discretion of elected officials, are widely used to regulate fiscal policies. Using data on Italian municipalities, we employ a difference-in-discontinuity design to provide evidence of the negative effect
Matteo Gamalerio, F. Trombetta
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The Missing Intercept: A Demand Equivalence Approach
Social Science Research Network, 2021I give conditions under which changes in private spending are accommodated in general equilibrium exactly like changes in aggregate fiscal expenditure.
Christian K. Wolf
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Inflation Targeting under Fiscal Fragility
American Economic Journal: MacroeconomicsWe propose a model to study an inflation-targeting regime under a high government debt burden. We assume that an altruistic policymaker chooses debt issuance, inflation, and public expenditure, while private agents dislike inflation and finance the ...
A. Araújo +4 more
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A Goldilocks Theory of Fiscal Deficits
The American Economic ReviewWe develop a tractable framework for deficit and debt dynamics. A “free lunch” fiscal deficit—one that raises spending without higher future taxes—is sustainable without zero lower bound (ZLB) only when R < G − φ, where φ is the sensitivity of the ...
Atif R. Mian, Ludwig Straub, Amir Sufi
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Corporate Minimum Tax and the Elasticity of Taxable Income: Evidence from Administrative Tax Records
American Economic Journal: Economic PolicyWe examine business responses to a minimum tax (MT) that prescribed fixed floors on corporate tax liability while permitting MT credit carryforwards.
Jaroslav Bukovina +3 more
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