Fiscal consolidations: welfare effects of the adjustment speed

Detalhes bibliográficos
Autor(a) principal: Fonseca, Miguel Ângelo De Sá Monteiro Da
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
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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spelling 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:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-22T17:47:37Zoai:run.unl.pt:10362/104271Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T17:18:46.988912Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
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
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instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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repository.mail.fl_str_mv info@rcaap.pt
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