Results 31 to 40 of about 74,591 (47)

Fiscal Policy and Credit Supply in a Crisis

The American Economic Review
We measure how cuts to public procurement propagate through the banking system in a financial crisis. During the European sovereign debt crisis, the Portuguese government cut procurement spending by 4.3 percent of GDP. We find that this cut saddled banks
Diana Bonfim, Miguel A. Ferreira, Francisco Queiró, S. Zhao   +3 more
semanticscholar   +1 more source

When Money Dies: The Dynamics of Speculative Hyperinflations

The American Economic Review
How quickly does a fiat money become valueless? I study the speculative hyperinflation equilibria of continuous-time economies with decentralized markets where money is essential.
G. Rocheteau
semanticscholar   +1 more source

Domestic Policies and Sovereign Default

American Economic Journal: Macroeconomics
A model with two essential elements—sovereign default and distortionary fiscal and monetary policies—explains the interaction between sovereign debt, default risk, and inflation in emerging countries.
Emilio Espino, Julian Kozlowski, Fernando M. Martin, Juan M. Sánchez   +3 more
semanticscholar   +1 more source

Corporate Minimum Tax and the Elasticity of Taxable Income: Evidence from Administrative Tax Records

American Economic Journal: Economic Policy
We examine business responses to a minimum tax (MT) that prescribed fixed floors on corporate tax liability while permitting MT credit carryforwards.
Jaroslav Bukovina, Tomáš Lichard, Ján Palguta, Branislav Žúdel   +3 more
semanticscholar   +1 more source

Estimating the shadow economy at the provincial level in Indonesia: A MIMIC model approach

JURNAL EKONOMIKA INDONESIA
The shadow economy encompasses economic activities that are not recorded in the Gross Domestic Product (GDP), resulting in reporting bias and diminished state revenue.
Raif Maulana Lukman, Fitri Kartiasih
semanticscholar   +1 more source

Mental Accounts and Consumption Sensitivity Across the Distribution of Liquid Assets

Social Science Research Network
We study consumption spending responses to predictable income using household-level data from a US financial institution. Even for households with large liquid asset balances, we find no spending in anticipation of income receipt, substantial spending ...
James Graham, Robert McDowall
semanticscholar   +1 more source

Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates

American Economic Journal: Macroeconomics
We provide a new Keynesian model where entrepreneurs face uninsurable idiosyncratic investment risk and credit constraints. Government bonds provide liquidity services.
Jianjun Miao, Dongling Su
semanticscholar   +1 more source

Micro Risks and (Robust) Pareto-Improving Policies

The American Economic Review
We provide conditions for the feasibility of robust Pareto-improving (RPI) policies when markets are incomplete and the interest rate is below the growth rate.
Mark Aguiar, M. Amador, C. Arellano
semanticscholar   +1 more source

Ability of States to Implement Planned Budget in India: An Assessment Using PEFA Framework

The Indian Economic Journal
A credible budget complies with budget contracts voted in Parliament and improves the efficiency of government expenditure. Deviations, as a result of weak capacity to forecast revenue or execute the planned activities, pose risks to both existing and ...
P. Jena
semanticscholar   +1 more source

Sticky Spending, Sequestration, and Government Debt

The American Economic Review
Once established, government spending programs tend to continue. A commonly held view is that spending inertia leads to unsustainable debt, ultimately requiring fiscal adjustments such as “sequestration.” We show that by insuring against political ...
F. Piguillem, Alessandro Riboni
semanticscholar   +1 more source