كتاب
The effect of unconventional fiscal policy on consumption expenditure
| العنوان: | The effect of unconventional fiscal policy on consumption expenditure |
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| المؤلفون: | D‘Acunto, Francesco, Hoang, Daniel, Weber, Michael |
| المصدر: | ISSN: 2190-9806. |
| بيانات النشر: | Karlsruher Institut für Technologie |
| سنة النشر: | 2016 |
| المجموعة: | KITopen (Karlsruhe Institute of Technologie) |
| مصطلحات موضوعية: | Zero-Lower Bound, Fiscal and Monetary Policy, Durable Consumption, Survey Data, Household Consumption, ddc:330, Economics, info:eu-repo/classification/ddc/330 |
| الوصف: | Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time consistent. We exploit a unique natural experiment for an empirical test of the effectiveness of unconventional fiscal policy. To comply with European Union law, the German government announced in November 2005 an unexpected 3-percentage-point increase in value-added tax (VAT), effective in 2007. The shock increased households' inflation expectations during 2006 and actual in ation in 2007. Germans' willingness to purchase durables increased by 34% after the shock, compared to before and to matched households in other European countries not exposed to the VAT shock. Income, wealth effects, or intratemporal substitution cannot explain these results. |
| نوع الوثيقة: | book report |
| وصف الملف: | application/pdf |
| اللغة: | English |
| العلاقة: | Working paper series in economics; info:eu-repo/semantics/altIdentifier/issn/2190-9806; https://publikationen.bibliothek.kit.edu/1000062012Test; https://publikationen.bibliothek.kit.edu/1000062012/3941548Test; https://doi.org/10.5445/IR/1000062012Test; http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:swb:90-620122Test |
| DOI: | 10.5445/IR/1000062012 |
| الإتاحة: | https://doi.org/10.5445/IR/1000062012Test https://publikationen.bibliothek.kit.edu/1000062012Test https://publikationen.bibliothek.kit.edu/1000062012/3941548Test http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:swb:90-620122Test |
| حقوق: | KITopen License, https://publikationen.bibliothek.kit.edu/kitopen-lizenzTest ; info:eu-repo/semantics/openAccess |
| رقم الانضمام: | edsbas.542D1567 |
| قاعدة البيانات: | BASE |
| DOI: | 10.5445/IR/1000062012 |
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