Do Household Finances Constrain Unconventional Fiscal Policy?

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Unconventional Fiscal Policy at the Zero Bound

When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use ine¢ cient policies such as wasteful public spending or future commitments to in‡ate. We conclude that in the New Keynesian model,...

متن کامل

Do Parties Matter for Fiscal Policy Choices ?

In this paper I test whether parties matter for fiscal policy choices, i.e., government spending and level of taxes. It is part of conventional wisdom that the Left spends and taxes more than the Right. However, there are very few convincing empirical studies that show this to be the case. I argue that this might reflect either the data sets used, or the employed methodology. By using a very la...

متن کامل

Consumer Credit and Household Finances

In the 1990s, borrowing by households has grown quickly. In the early part of the decade, the growth was driven by housing lending (Graph␣ 1). More recently, growth in other personal borrowings has picked up sharply. particularly the widespread introduction of loan products enabling households to draw on equity in their owner-occupied property. This type of loan gives explicit recognition, in t...

متن کامل

Dismantling Policy through Fiscal Constriction: Examining the Erosion in State Unemployment Insurance Finances

A common proposition in welfare state research is that programs financed through dedicated payroll taxes tend to be more durable. This article examines American unemployment insurance ðUIÞ as an exception to this proposition. UI is a self-financed social insurance program whose benefits have been dismantled over time because of an inability to maintain a constant revenue base. The study first e...

متن کامل

Do Sound Public Finances Require Fiscal Rules Or Is Market Pressure Enough?

This paper discusses the balance between market pressure and fiscal rules in order to keep public finances on a sustainable path. The critical factors are the financial markets’ ability to provide accurate measures of the stance of fiscal policy and the availability of enforceable rules to act as effective constraints on fiscal policy. In our empirical analysis we find that stricter fiscal rule...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Tax Policy and the Economy

سال: 2019

ISSN: 0892-8649,1537-2650

DOI: 10.1086/703225