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Institution

Directorate-General for Economic and Financial Affairs

GovernmentBrussels, Belgium
About: Directorate-General for Economic and Financial Affairs is a government organization based out in Brussels, Belgium. It is known for research contribution in the topics: Fiscal policy & European union. The organization has 80 authors who have published 145 publications receiving 4262 citations. The organization is also known as: ECFIN & GD ECFIN.


Papers
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TL;DR: The authors assesses the effectiveness of temporary fiscal stimulus using seven structural models used heavily by policymaking institutions, and conclude that temporary stimulus is most effective if it has some persistence and if monetary policy accommodates it.
Abstract: The paper assesses, using seven structural models used heavily by policymaking institutions, the effectiveness of temporary fiscal stimulus. Models can, more easily than empirical studies, account for differences between fiscal instruments, for differences between structural characteristics of the economy, and for monetary-fiscal policy interactions. Findings are: (i) There is substantial agreement across models on the sizes of fiscal multipliers. (ii) The sizes of spending and targeted transfers multipliers are large. (iii) Fiscal policy is most effective if it has some persistence and if monetary policy accommodates it. (iv) The perception of permanent fiscal stimulus leads to significantly lower initial multipliers.

512 citations

Journal ArticleDOI
TL;DR: In this paper, the authors investigated why women's self-employment rates are consistently lower than those of men, and found that women's lower preference for becoming self-employed plays an important role in explaining their lower involvement in self employment.

304 citations

Journal ArticleDOI
TL;DR: In this paper, the authors investigate the correlation between the hiring and firing regulations in Western Europe and Japan and their total absence in the United States and conclude that a fairly wide spread of moderate but specific policy reforms appears warranted with a view to helping improve the European employment situation.

241 citations

Journal ArticleDOI
TL;DR: In this article, the authors point out that official forecasts of output dynamics are crucial to the assessment of cyclically adjusted budget balances, and provide evidence that in some euro-area countries biased forecasts have played a thus far neglected role in generating excessive deficits.
Abstract: ARE OFFICIAL OUTPUT FORECASTS BIASED? We point out that official forecasts of output dynamics are crucial to the assessment of cyclically adjusted budget balances, and provide evidence that in some euro-area countries biased forecasts have played a thus far neglected role in generating excessive deficits. We suggest that the forecast bias may be politically motivated, and that forecasts produced by an independent authority would be better than in-house Ministry of Finance forecasts for the purpose of monitoring budget formation and budget outcomes. — Lars Jonung and Martin Larch

174 citations

Book ChapterDOI
01 Jan 2002
TL;DR: In this article, the authors provide some new empirical results on spatial patterns of specialisation following the integration of economies in Europe, and this holds in particular for the regional, sub-national level in Europe.
Abstract: Spatial issues have received renewed interest in economics following the development of the new economic geography. At the same time, there is a general concern that the process of European integration would lead to higher regional specialisation making regions more prone to adverse shocks and increasing adjustment costs in the case of a relocation of firms. In particular, the warning by Krugman (1993) to EMU participants to learn the “lessons of Massachusetts”, i.e. the need for a highly specialised region to have efficient adjustment mechanisms as a reaction to a shock to its leading sector when the nominal exchange rate is not available in a monetary union, has received major attention. He predicted that Europe, once it has completed a single market with a single currency, would soon have the same degree of regional specialisation as the US. While trade and specialisation is a basic theoretical concept in economics, which already Adam Smith identified as the main source of the wealth of nations, it is all the more surprising that the empirical evidence on spatial patterns of specialisation following the integration of economies is very scarce and inconclusive. Due to problems of data availability, this holds in particular for the regional, sub-national level in Europe. The objective of this paper is to provide some new empirical results on these issues.

149 citations


Authors

Showing all 111 results

NameH-indexPapersCitations
Johan F.M. Swinnen7057020039
Lars Jonung362144215
Guntram B. Wolff342244272
Marco Buti33983852
Alessandro Turrini311293000
Jan in 't Veld28913074
Paul van den Noord28703654
Salvador Barrios26844166
Heiko Hesse24563232
Isabel Grilo24662967
Gilles Mourre21761300
Bořek Vašíček20571318
Alessandro Girardi191161212
Ivo Maes19871349
Ralph Setzer16461162
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Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
20237
202245
20213
20202
20195
20186