Bai, Chong-En, Chang-Tai Hsieh, and Zheng(Michael) Song, 2016, The long shadow of a fiscal expansion, Brookings Papers on Economic Activity 60, 309-327.Bai, Chongen, Chang-Tai Hsieh, and Zheng Song (2016), The long shadow of a fiscal expansion, Brookings Papers in Economic Activity, ...
The Long Shadow of China's Fiscal Expansion No abstract is available for this item. CE Bai,CT Hsieh,Z Song - 《Brookings Papers on Economic Activity》 被引量: 47发表: 2016年 What are the effects of fiscal policy shocks? is a deficit-financed tax cut and that the long term costs of ...
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Equation (7) is the natural real interest (rt) which is determined by a ‘structural’ level of the interest rate (for example dependent on global interest rates) and a factor that dependent on the budget deficit so a higher budget deficit as share of GDP increases the natural real interest...
China says it will stick with a more proactive fiscal policy and a moderately loose monetary policy in the year 2025. How will this policy mix impact the Chinese economy in the new year? And will this lead to an eventual stabilization of the property market, the stock market, and a rise...
fiscal policy has a statistically significant positive impact on the non-oil sector both in the long and short run. However, the size of the impact is small compared to the findings of earlier studies due to, we believe, the low oil-price environment and different specifications used. ...
localities relied upon land sales as a source of revenue from secondary “fund budgets” at the local level, and structured quasi-fiscal spending as borrowing from local banks through local state-owned enterprises or financing vehicles. Shadow banks and informal borrowing supplemented formal bank loan...
Initially, the flight to quality was a boon for money market funds. They suddenly found themselves facing a herd of new clients. To capture a large share of this demand expansion form these new clients who had a higher risk-tolerance than their usual clients, some money market funds began ...
Meanwhile, fuel-tax revenues for the Highway Trust Fund are below $40 billion per year, and gradually falling over time with the rise of higher-mileage cars in the short-run, and also the rise of electric vehicles in the long run. Of course, one option is just to fill the gap with...
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