The Spanish debt consolidation between 1996 and 2007 represents, by its size and duration, an impressive case among the European Union countries. This paper aims at characterizing the Spanish debt consolidation process in order to assess its effects on economic inequality and welfare. For that ...
We build a new Keynesian DSGE model consisting of two heterogeneous countries participating in a monetary union. We study how public debt consolidation in a country with high debt (like Italy) affects welfare in a country with solid public finances (like Germany). Our results show that debt con...
Robust to a wide set of tests, including when using the narrative approach to identify fiscal consolidations, this significantly stronger contraction of government investment with respect to government consumption is at work particularly when debt is high and in the low phase of the economic cycle....
Fiscal consolidation, public debt and output dynamics in the euro area : lessons from a simple model with time-varying fiscal multipliers EMU countries have engaged in a consolidation of fiscal policies since 2011. This paper deals with the public debt and output dynamic consequences of this ......
In the past two decades the European banking industry has undergone an intense process of reshaping, fostered by a junction of reasons. Consolidation of the industry has been increasing at an accelerating pace. However, continental literature in the field is still not thorough or conclusive. While...
THE EFFECTS OF FISCAL CONSOLIDATIONS: THEORY AND EVIDENCE We investigate the macroeconomic effects of fiscal consolidations based upon government spending cuts, transfers cuts and tax hikes. We extend a narrative dataset of fiscal consolidations, finding details on over 3500 measures. Governmen... A...
Through the impacts of higher required rates of return, debt, taxation changes and a new competitive structure for the industry, investment in electricity generating capacity has taken a shift to less capital-intensive technologies in the UK. This paper reports on the use of large-scale, long-te...
categories thatareeffectedthrough the consolidation ofpostadjustmentmultiplier points into the base scale [...] daccess-ods.un.org daccess-ods.un.org 秘书长还提议,在今后采用将工作地点差价调整数乘数点并入基薪并同时相 应地重新调整工作地点差价调整数乘数的方法修正适用于专业及以上职类工作 人员的基薪表...
Effective use of the early registrations will be for English lessons, knowledge of English learning, the use of consolidation, and many other have auxiliary role. 翻译结果5复制译文编辑译文朗读译文返回顶部 Uses effectively studies by oneself early then can to the class in English study, English kno...
Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience In earlier work we documented two episodes in which a sharp fiscal consolidation was associated with a surprisingly large expansion in private domestic dem... F Giavazzi,M Pagano - 《Cepr Discussion ...