Holdings: The debt brake :: THWS Bibkatalog

The debt brake: business cycle and welfare consequences of Germany's new fiscal policy rule

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Bibliographic Details
Main Authors:	Mayer, Eric (Author), Stähler, Nikolai 1977- (Author)
Format:	Book
Language:	English
Published:	Frankfurt am Main Dt. Bundesbank 2009
Series:	Discussion paper / Deutsche Bundesbank : Series 1, Economic studies 2009,24
Subjects:	Öffentliche Schulden Konjunktur Finanzpolitik Konsolidierung Sparpolitik Fiskalpolitik Deutschland
Online Access:	http://www.bundesbank.de/download/volkswirtschaft/dkp/2009/200924dkp.pdf Inhaltsverzeichnis
Item Description:	Zsfassungen in dt. und engl. Sprache
Physical Description:	61 S. graph. Darst.
ISBN:	9783865585516

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Record in the Search Index

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adam_text	Titel: The debt brake Autor: Mayer, Eric Jahr: 2009 Contents 1 Introduction 2 The model 5 2.1 Firms and price setting.............................. 5 2.1.1 Final goods producers.......................... 5 2.1.2 Intermediate goods producers and prices................ 6 2.2 The household sector............................... 6 2.2.1 Optimizing households.......................... 7 2.2.2 Rule-of-thumb consumers ........................ 7 2.3 Fiscal authorities................................. 8 2.3.1 The balanced budget rule (BB)..................... 9 2.3.2 The debt brake (DB) and additional rule-based stabilization (AS) . . 9 2.4 Market clearance................................. 11 2.5 Linearized equilibrium conditions........................ 11 3 Calibration and impulse response analysis 14 3.1 Calibration strategy................................ 14 3.2 Impulse response analysis ............................ 17 4 Welfare 23 5 Discussion and further research questions 26 6 Conclusion 28 A Design and stress testing 30 A.I How to set the feedback of the adjustment account .............. 30 A.2 Trend estimation errors.............................. 30 B Firms optimal price setting and the Phillips curve 33 C Aggregation of household sector 36 D The fiscal spending rule 39 E Steady-state considerations and social planner s solution 41 F Welfare approximation 44 List of Figures 1 DBandCPS ................................... 18 2 BB and CPS.................................... 18 3 AS and CPS.................................... 18 4 DBandPMS................................... 20 5 BB and PMS................................... 20 6 AS and PMS ................................... 20 7 DB and TS.................................... 22 8 BB and TS.................................... 22 9 AS and TS..................................... 22 10 Preference shock and welfare........................... 25 11 Cost-push shock and welfare........................... 25 12 Technology shock and welfare.......................... 25 13 Fiscal shock and welfare............................. 25 14 Robustness A................................... 26 15 Adjustment account dynamics and feedback parameter............ 27 16 Optimal feedback coefficient for each shock .................. 30 17 Trend estimation errors ............................. 32 List of Tables 1 Baseline calibration................................ 16 2 Standard deviations of shocks......................... 17
any_adam_object	1
author	Mayer, Eric Stähler, Nikolai 1977-
author_GND	(DE-588)132625784
author_facet	Mayer, Eric Stähler, Nikolai 1977-
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dewey-full	339.52
dewey-hundreds	300 - Social sciences
dewey-ones	339 - Macroeconomics and related topics
dewey-raw	339.52
dewey-search	339.52
dewey-sort	3339.52
dewey-tens	330 - Economics
discipline	Wirtschaftswissenschaften
format	Book
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series2	Discussion paper / Deutsche Bundesbank : Series 1, Economic studies
spelling	Mayer, Eric Verfasser aut The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule Eric Mayer ; Nikolai Stähler Frankfurt am Main Dt. Bundesbank 2009 61 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Discussion paper / Deutsche Bundesbank : Series 1, Economic studies 2009,24 Zsfassungen in dt. und engl. Sprache Öffentliche Schulden (DE-588)4043153-8 gnd rswk-swf Konjunktur (DE-588)4032125-3 gnd rswk-swf Finanzpolitik (DE-588)4127795-8 gnd rswk-swf Konsolidierung (DE-588)4114287-1 gnd rswk-swf Sparpolitik (DE-588)4431627-6 gnd rswk-swf Fiskalpolitik (DE-588)4071234-5 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf Deutschland (DE-588)4011882-4 g Konsolidierung (DE-588)4114287-1 s Fiskalpolitik (DE-588)4071234-5 s Konjunktur (DE-588)4032125-3 s DE-188 Öffentliche Schulden (DE-588)4043153-8 s Finanzpolitik (DE-588)4127795-8 s Sparpolitik (DE-588)4431627-6 s 1\p DE-604 Stähler, Nikolai 1977- Verfasser (DE-588)132625784 aut Deutsche Bundesbank <Frankfurt, Main> Discussion paper 1 2009,24 (DE-604)BV017594637 2009,24 http://www.bundesbank.de/download/volkswirtschaft/dkp/2009/200924dkp.pdf HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021620542&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk
spellingShingle	Mayer, Eric Stähler, Nikolai 1977- The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule Öffentliche Schulden (DE-588)4043153-8 gnd Konjunktur (DE-588)4032125-3 gnd Finanzpolitik (DE-588)4127795-8 gnd Konsolidierung (DE-588)4114287-1 gnd Sparpolitik (DE-588)4431627-6 gnd Fiskalpolitik (DE-588)4071234-5 gnd
subject_GND	(DE-588)4043153-8 (DE-588)4032125-3 (DE-588)4127795-8 (DE-588)4114287-1 (DE-588)4431627-6 (DE-588)4071234-5 (DE-588)4011882-4
title	The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule
title_auth	The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule
title_exact_search	The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule
title_full	The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule Eric Mayer ; Nikolai Stähler
title_fullStr	The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule Eric Mayer ; Nikolai Stähler
title_full_unstemmed	The debt brake business cycle and welfare consequences of Germany's new fiscal policy rule Eric Mayer ; Nikolai Stähler
title_short	The debt brake
title_sort	the debt brake business cycle and welfare consequences of germany s new fiscal policy rule
title_sub	business cycle and welfare consequences of Germany's new fiscal policy rule
topic	Öffentliche Schulden (DE-588)4043153-8 gnd Konjunktur (DE-588)4032125-3 gnd Finanzpolitik (DE-588)4127795-8 gnd Konsolidierung (DE-588)4114287-1 gnd Sparpolitik (DE-588)4431627-6 gnd Fiskalpolitik (DE-588)4071234-5 gnd
topic_facet	Öffentliche Schulden Konjunktur Finanzpolitik Konsolidierung Sparpolitik Fiskalpolitik Deutschland
url	http://www.bundesbank.de/download/volkswirtschaft/dkp/2009/200924dkp.pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021620542&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
volume_link	(DE-604)BV017594637
work_keys_str_mv	AT mayereric thedebtbrakebusinesscycleandwelfareconsequencesofgermanysnewfiscalpolicyrule AT stahlernikolai thedebtbrakebusinesscycleandwelfareconsequencesofgermanysnewfiscalpolicyrule

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