Regional inflation in a currency union: fiscal policy vs. fundamentals
In: International finance discussion papers 746
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In: International finance discussion papers 746
In: Journal of Monetary Economics, Band 50, Heft 4, S. 889-913
In: FRB Richmond Economic Quarterly, Vol. 89, No. 3, Summer 2003, pp. 53-70
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Since the beginning of the COVID-19 pandemic, countries worldwide have implemented a set of Non-Pharmaceutical Interventions (NPIs) as a way to face the evolution of the pandemic. In this dissertation we propose a detailed analysis of the evolution of the pandemic that considers the degree of restriction of NPIs from March 2020 to May 2021 and the reproduction rate in five countries: India, Brazil, United Kingdom, Israel and Portugal. In addition to this, we analyse the impact that Hofstede's cultural dimensions may have between implementations of various degrees of restriction of NPIs and the reproduction rate by applying machine learning models to understand whether cultural characteristics are useful information to improve reproduction rate predictions. To achieve these objectives, we follow the CRISP-DM methodology being that we gather data from Our World in Data COVID-19, Oxford COVID-19 Government Response Tracker and Hofstede Insights website. We show an in-depth and extensive analysis over these months of the pandemic which shows differences between the five countries that have implemented the same NPIs to different degrees and where culture plays an important role in each country's response to the various NPIs implemented. ; Desde o início da pandemia COVID-19 que os países do mundo inteiro implementaram um conjunto de intervenções não farmacêuticas (NPIs) como forma de combater a evolução da pandemia. Nesta dissertação propomos uma análise detalhada da evolução da pandemia que considera o grau de restrição das NPIs desde Março de 2020 a Maio de 2021 e a taxa de reprodução em cinco países: India, Brasil, Reino Unido, Israel e Portugal. Além disto, analisamos o impacto que as dimensões culturais de Hofstede podem ter entre as implementações de vários graus de restrição de NPIs e a taxa de reprodução aplicando modelos de machine learning para compreender se as características culturais são informações úteis para melhorar as previsões da taxa de reprodução. Para concretizar estes objetivos, nós seguimos a metodologia do CRISP-DM sendo que, reunimos dados de Our World in Data COVID-19, Oxford COVID-19 Government Response Tracker e o website Hofstede Insights. Mostramos uma análise aprofundada e extensa ao longo destes meses da pandemia a qual mostra diferenças entre os cinco países que implementaram as mesmas NPIs em diferentes graus e em que a cultura desempenha um papel importante na resposta de cada país às várias NPIs implementadas.
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In: NBER Working Paper No. w23979
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In: Journal of Monetary Economics, Band 55, Heft 6, S. 1129-1142
In: Portuguese economic journal, Band 6, Heft 1, S. 23-46
ISSN: 1617-9838
In: Portuguese economic journal, Band 16, Heft 3, S. 145-147
ISSN: 1617-9838
In: Journal of international economics, Band 74, Heft 2, S. 384-401
ISSN: 0022-1996
In: Journal of Monetary Economics, Band 52, Heft 1, S. 3-29
In: FRB Richmond Working Paper No. 03-11
SSRN
Working paper
In: Journal of Monetary Economics, Band 49, Heft 5, S. 941-946
We develop a general equilibrium model of a two-region currency union. There are two types of goods: non-traded goods, and traded goods for which markets are segmented. Monetary policy is set by a central monetary authority and is non-neutral due to nominal price rigidities. Fiscal policy is determined at the regional level by each region's government. We find that productivity shock alone generate significant variation in inflation across the two countries. Government spending shocks, in contrast, do not account for a significant portion of inflation variation. Varying relative country sie, we find that smaller countries experience higher variability of their inflation differential in response to shocks to productivity growth. Moreover, we show that regional governments can suppress incipient inflation differential associated with shock to productivityt growth by letting the income tax rate respond negatively to inflation differentials.
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It is the aim of several European governments to develop private insurance markets on the top of public health insurance plans. We look at the effects of tax exemptions as an instrument for inducing individuals to opt out. Tax exemptions on private insurance premiums are shown to be instruments having a substantial degree of uncertainty in their effects. On the other hand, tax waivers based on per capita medical spending to lead individuals (mainly good health risks) to opt out from the social program. This accompanied by an overall increase in state spending (and taxes) due to transfers which must be made, and by an income redistribution effect from bad risks to good risks. ; N/A
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The most recently discovered Human coronavirus, Severe Acute Respiratory Syndrome - Coronavirus - 2 (SARS-CoV-2), is certainly the best-known coronavirus of all, as it is considered a successful invader. First identified in late 2019, it generated the current pandemic of coronavirus disease of 2019 (COVID-19) when it spread across the planet in only a few months. Like some other members of the same family of viruses, SARS-CoV-2 can infect different types of human cells, however, the epithelia of the lungs and larynx are the main targets thus preferentially causing respiratory infections. Mortality associated with COVID-19 alongside the impacts on health, education, the economy and individual and social well-being are currently a concern for the whole world. These are not only due to the effects of the disease, but also the pandemic control measures imposed by governments across the world, namely mandatory isolation, and we are still looking to adapt to this new way of life alongside a virus that was previously unknown. However, humans and other animal species have long lived side by side with other coronaviruses, many of which unknown to most people, some quite harmless whilst other potentially lethal. In that sense, this is no different. This book aims to assemble and disseminate information about the origin, evolution and pathogenesis of animal and human coronaviruses in a simple and accessible way, and through this clarify readers' doubts and fears as well as the rationale underlying transmission prevention actions. The main text of the manuscript is accompanied by two types of additional information for optional consultation; more in-depth information about some of the mentioned concepts (know more) and a set of questions & answers, providing the reader with the opportunity to clarify doubts relating to the content of each section. For the preparation of this book, we counted on the collaboration of technicians, researchers and academics in the areas of microbiology, epidemiology, animal health and ...
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