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  1. Hicks in HANK
    fiscal responses to an energy shock
    Author: Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J.; Seyrich, Fabian
    Published: 2023
    Publisher:  DIW Berlin, German Institute for Economic Research, Berlin

    The distributional and disruptive effects of energy supply shocks are potentially large. We study the effectiveness of alternative fiscal responses in a two-country HANK model that we calibrate to the euro area. Energy subsidies can stabilize the... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 14
    Inter-library loan:
    No inter-library loan

     

    The distributional and disruptive effects of energy supply shocks are potentially large. We study the effectiveness of alternative fiscal responses in a two-country HANK model that we calibrate to the euro area. Energy subsidies can stabilize the domestic economy, but are fiscally costly and generate adverse spillovers to the rest of the monetary union: What the subsidizing country gains, the other countries lose. Transfers based on historical energy consumption in the form of a Hicks/Slutsky compensation are less effective domestically as subsidies but do not harm economic activity abroad. In addition, transfers increase welfare at Home while subsidies reduce welfare.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/279487
    Series: Discussion papers / Deutsches Institut für Wirtschaftsforschung ; 2056
    Subjects: Energy crisis; Subsidies; Transfers; HANK 2; monetary union; spillovers; heterogeneity; inequality; households
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  2. Hicks in hank
    fiscal responses to an energy shock
    Author: Bayer, Christian; Kriwoluzky, Alexander; Müller, Gernot J.; Seyrich, Fabian
    Published: 27 October 2023
    Publisher:  Centre for Economic Policy Research, London

    Access:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    LZ 161
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Mannheim
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18557
    Subjects: Energy crisis; Subsidies; Transfers; HANK2; monetary union; spillovers,heterogeneity; inequality; households
    Scope: 1 Online-Ressource (circa 54 Seiten), Illustrationen