WebbCross-country differences in the consequences of fiscal consolidations have stimulated a lively debate on the determinants and effects of large changes in the fiscal stance. … Webb14 apr. 2024 · This paper analyzes the effect of time-varying cross-country fiscal policy interaction on output and consumption multipliers in a monetary union. The framework is that of a standard New Keynesian two-country model with distortionary taxes and Markov Switching fiscal regimes. The paper uses a two-state Markov switching process for each …
Paper prepared for the ECFIN Workshop on “Fiscal policy after the ...
Webb15 dec. 2024 · Results show fiscal consolidations lead to a significant increase in the vote shares of extreme parties, lower voter turnout, and a rise in political fragmentation. Austerity-driven recessions amplify the political costs of economic downturns considerably by increasing distrust in the political environment. Authors Mathias Klein Ana Sofia Pessoa unblock phone number on android phone
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Webb1 maj 2009 · The Output Effect of Fiscal Consolidations A. Alesina, Carlo A. Favero, F. Giavazzi Economics 2012 The present paper argues that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of fiscal plans rather than of individual fiscal shocks. The simulation of the… 168 PDF View 1 excerpt, cites background WebbEpisodes of fiscal consolidation have short- and medium-term output effects, but here, too, composition matters: fiscal consolidations based on reducing public investment have the largest effect on output, while fiscal consolidations based on revenue mobilization are less harmful than those based on public investment cuts. WebbThe simulation of the fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the effects of consolidations depend on their design. Fiscal … unblock pin natwest