Bank of Spain paper explores links between fiscal consolidation and private deleveraging
A working paper published by the Bank of Spain explores the channels through which fiscal contraction affects private deleveraging.
In When fiscal consolidation meets private deleveraging, Javier Andrés, Óscar Arce and Carlos Thomas present a general equilibrium model of a small open economy within a monetary union. They use this to analyse the interaction between fiscal consolidation and private-sector deleveraging. One key change to their model, they say, is to use more realistic assumptions
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
Critic urges UK to leave China-based lender
Treasury says UK will stay in AIIB as ex-official calls some employees “useful idiots”
IMF and World Bank to go ahead with Marrakech meetings
Leaders say they wish to stand by Morocco after earthquake killed nearly 3,000
Former Central Bank of Barbados governor calls for dollarisation
Caricom has failed to integrate the Caribbean, says DeLisle Worrell
US inflation hurting poorer citizens – St Louis Fed research
Nearly 90% of low-income households report significant stress from inflation
Government employment has not recovered from pandemic – Fed
Low wages could be responsible from 450,000 missing state and local government workers in US
Inequality rising in the US – Minneapolis Fed report
“Government intervention largely eliminates the cyclicality in inequality at the bottom,” research says
ECB paper analyses carbon pricing schemes
Rising compliance costs can push firms away from green innovation, paper finds
Forward guidance loses power when rates rise, RBI research finds
Tool is useful at lower bound but is much less effective during normal conditions, paper argues