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来源类型Working Paper
规范类型报告
DOI10.3386/w16275
来源IDWorking Paper 16275
Automatic Stabilizers and Economic Crisis: US vs. Europe
Mathias Dolls; Clemens Fuest; Andreas Peichl
发表日期2010-08-19
出版年2010
语种英语
摘要This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic stabilizers in Eastern and Southern Europe are much lower than in Central and Northern European countries. We also investigate whether countries with weak automatic stabilizers have enacted larger fiscal stimulus programs. We find no evidence supporting this view.
主题Macroeconomics ; Business Cycles ; Public Economics ; Taxation
URLhttps://www.nber.org/papers/w16275
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/573948
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GB/T 7714
Mathias Dolls,Clemens Fuest,Andreas Peichl. Automatic Stabilizers and Economic Crisis: US vs. Europe. 2010.
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