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This paper studies the effects of fiscal policy on net exports, the terms of trade and expenditure switching. Using data on government spending and consumption taxes for twelve euro area countries over 1996 to 2018, it shows that fiscal austerity shocks im ...
The ability to issue debt that pays in units of the domestic good leads a country to accumulate a large and negative net foreign asset position while maintaining a positive position in equity. This debt market advantage also helps to explain the weak relat ...
With the advance in microelectronics and microsystems, better instruments in every domain are designed and built. For many years, scientists have tried to understand nature, and engineers to mimic the perfect design. One example of this is the human knee, ...
This thesis examines the optimal mode of financing for banks and financial institutions. The first chapter, which is a joint work with Prof. Jean-Charles Rochet, investigates how Systemically Important Financial Institutions (SIFIs) should be financed. The ...
In recent decades, the European postal industry has undergone profound reforms, which aim to promote competition while simultaneously maintaining a high level of universal services for consumers. It is often put forth that market opening and the emergence ...
Turning greenhouse gas emissions pledges into domestic policies is the next challenge for governments. We address the question of the acceptability of cost-effective climate policy in a real-voting setting. First, we analyze voting behavior in a large ball ...
Centre for Climate Change Economics and Policy2016
Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...
Traditional competitive markets do not account for negative externalities; indirect costs that some participants impose on others, such as the cost of over-appropriating a common-pool resource (which diminishes future stock, and thus harvest, for everyone) ...
Due to the important direct and indirect costs of the intervention, more detailed examination methods based on data as obtained from monitoring is suggested. This paper reports on an ongoing study to examine the fatigue safety of one standard bridge type, ...
Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...
