Data and Code for: Trade Policies and Fiscal Devaluations
收藏DataCite Commons2025-02-03 更新2025-04-16 收录
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This is data and replication code for a paper. <br>Abstract:Fiscal devaluations—an increase in import tariffs and export subsidies (IX) or an increase in value-added taxes and payroll subsidies (VP)—have been shown to provide as much stimulus under fixed exchange rates as a currency devaluation. We find that if agents expect policies to be reversed and the tax pass-through is large, VP is contractionary and IX provides a modest boost. In our medium-scale DSGE model, both features are crucial in accounting for Germany’s underperformance in response to VP in 2007. These findings cast doubt on fiscal devaluations as a cyclical stabilization tool when monetary policy is constrained.(JEL E32, F30, H22)<br><br>
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ICPSR - Interuniversity Consortium for Political and Social Research
创建时间：
2025-02-03
