Fiscal consolidations: welfare effects of the adjustment speed
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/104271 |
Resumo: | This work studies the response of social welfare to fiscal consolidations, by focusingon a less debated characteristic of fiscal plans: the speed of deleveraging. A neo-classical overlapping generations model is calibrated to the German economy, anda sequence of reductions of the same size in the debt-to-GDP ratio are simulatedconsidering different adjustment periods. Welfare gains are found to be larger inslow, delayed fiscal consolidations, due to the presence of incomplete markets. It isalso found that the aggregate welfare response depends on the distribution of wealthand the type of fiscal instrument used. |
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Fiscal consolidations: welfare effects of the adjustment speedFiscal consolidationWealth inequalityIncomplete marketsConsumption smoothing hypotesisDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis work studies the response of social welfare to fiscal consolidations, by focusingon a less debated characteristic of fiscal plans: the speed of deleveraging. A neo-classical overlapping generations model is calibrated to the German economy, anda sequence of reductions of the same size in the debt-to-GDP ratio are simulatedconsidering different adjustment periods. Welfare gains are found to be larger inslow, delayed fiscal consolidations, due to the presence of incomplete markets. It isalso found that the aggregate welfare response depends on the distribution of wealthand the type of fiscal instrument used.Brinca, PedroRUNFonseca, Miguel Ângelo De Sá Monteiro Da2020-09-18T10:12:23Z2020-01-222020-012020-01-22T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/104271TID:202492303enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:49:48Zoai:run.unl.pt:10362/104271Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:40:11.505561Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Fiscal consolidations: welfare effects of the adjustment speed |
title |
Fiscal consolidations: welfare effects of the adjustment speed |
spellingShingle |
Fiscal consolidations: welfare effects of the adjustment speed Fonseca, Miguel Ângelo De Sá Monteiro Da Fiscal consolidation Wealth inequality Incomplete markets Consumption smoothing hypotesis Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Fiscal consolidations: welfare effects of the adjustment speed |
title_full |
Fiscal consolidations: welfare effects of the adjustment speed |
title_fullStr |
Fiscal consolidations: welfare effects of the adjustment speed |
title_full_unstemmed |
Fiscal consolidations: welfare effects of the adjustment speed |
title_sort |
Fiscal consolidations: welfare effects of the adjustment speed |
author |
Fonseca, Miguel Ângelo De Sá Monteiro Da |
author_facet |
Fonseca, Miguel Ângelo De Sá Monteiro Da |
author_role |
author |
dc.contributor.none.fl_str_mv |
Brinca, Pedro RUN |
dc.contributor.author.fl_str_mv |
Fonseca, Miguel Ângelo De Sá Monteiro Da |
dc.subject.por.fl_str_mv |
Fiscal consolidation Wealth inequality Incomplete markets Consumption smoothing hypotesis Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Fiscal consolidation Wealth inequality Incomplete markets Consumption smoothing hypotesis Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This work studies the response of social welfare to fiscal consolidations, by focusingon a less debated characteristic of fiscal plans: the speed of deleveraging. A neo-classical overlapping generations model is calibrated to the German economy, anda sequence of reductions of the same size in the debt-to-GDP ratio are simulatedconsidering different adjustment periods. Welfare gains are found to be larger inslow, delayed fiscal consolidations, due to the presence of incomplete markets. It isalso found that the aggregate welfare response depends on the distribution of wealthand the type of fiscal instrument used. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-09-18T10:12:23Z 2020-01-22 2020-01 2020-01-22T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/104271 TID:202492303 |
url |
http://hdl.handle.net/10362/104271 |
identifier_str_mv |
TID:202492303 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799138017362837504 |