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fiscal policyoecd countriesoecd staatenfiscal consolidationgovernment spendingpublic expenditureÖffentliche ausgabeneffects fiscaleconomic growthbudget deficitfiscal adjustmentsincome distributionpublic debtnational incomeÖffentliche schuldenvar modelvar modelllatin americaeu countrieseu staatenneue politische Ökonomiepublic choicebudget deficitsinterest ratepolitical economyimpact assessmentpolicy developingprivate consumptionÖffentlicher haushaltpublic budgetprivater konsumadjustments oecdbudget institutionshealth spendingintergovernmental transferseuro areaspending shocksbudget cutstax policycriticism targetgreek crisismonetary policycyclical behaviorpolitical corruptionestimating effectspolicy oecdzero lowerlower boundtax shockspaper studieseffects governmentgerman criticismpolitical instabilityeuropean unionoutcomes greekausterity mythmyth gaingain painpolitical resourceresource cursegovernment budgetrely primarilyestimate effectspolitische instabilitätexchange rate policylocal policylocal government financecountries compositionmacroeconomic effectsfiscal expansionsfiscal unionsspending zeroadjustments relylong runoptimal cyclical
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Years of publications: 1992 - 2024

246 records from EconBiz based on author Name Information logo


1. Taxation of Capital : Capital Levies and Commitment

abstract

Chamley and Judd argued that optimal taxation dictates zero long-run tax rates on capital income, but Straub and Werning found that tax rates may be positive even in the steady state. These models feature a "period-zero problem" in the underlying Ramsey formulation, which omits past commitments but includes future ones. The period-zero policymaker then imposes capital levies on initial assets--directly or indirectly through positive tax rates on future asset income and non-constant tax rates on consumption. Chari, Nicolini, and Teles add commitment by the period-zero policymaker to households' initial wealth in utility units. In this case, a nonzero capital levy may apply in period zero, future tax rates on asset income equal zero, and tax rates on consumption are constant. Time-consistency fails if future policymakers are unconstrained but holds if commitments to initial wealth in utility units are strict enough each period to motivate each policymaker to choose zero direct capital levies. In that case, a timeless perspective applies where period zero is not special, tax rates on asset income are always zero, and tax rates on consumption are constant. Introduction of uncertainty generates state-contingent levies on assets and random-walk-like variations in consumption tax rates

Barro, Robert J.; Chari, Varadarajan V.;
2024
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link

2. On the efficiency of competitive equilibria with pandemics

Chari, Varadarajan V.; Kirpalani, Rishabh; Pérez, Luis;
2023
Type: Graue Literatur; Non-commercial literature;
Availability: The PDF logo Link Link Link

3. On the Efficiency of Competitive Equilibria with Pandemics

abstract

The epidemiological literature suggests that virus transmission occurs only when individuals are in relatively close contact. We show that if society can control the extent to which economic agents are exposed to the virus and agents can commit to contracts, virus externalities are local, and competitive equilibria are efficient. The Second Welfare Theorem also holds. These results still apply when infection status is imperfectly observed and when agents are privately informed about their infection status. If society cannot control virus exposure, then virus externalities are global and competitive equilibria are inefficient, but the policy implications are very different from those in the literature. Economic activity in this version of our model can be inefficiently low, in contrast to the conventional wisdom that viruses create global externalities and result in inefficiently high economic activity. If agents cannot commit, competitive equilibria are inefficient because of a novel pecuniary externality

Chari, Varadarajan V.; Kirpalani, Rishabh; Pérez, Luis;
2023
Availability: Link

4. The Hammer and the Scalpel : On the Economics of Indiscriminate versus Targeted Isolation Policies during Pandemics

abstract

We develop a simple dynamic economic model of epidemic transmission designed to be consistent with widely used SIR biological models of the transmission of epidemics, while incorporating economic benefits and costs as well. Our main finding is that targeted testing and isolation policies deliver large welfare gains relative to optimal policies when these tools are not used. Specifically, we find that when testing and isolation are not used, optimal policy delivers a welfare gain equivalent to a 0.6% permanent increase in consumption relative to no intervention. The welfare gain arises because under the optimal policy, the planner engineers a sharp recession that reduces aggregate output by about 40% for about 3 months. This sharp contraction in economic activity reduces the rate of transmission and reduces cumulative deaths by about 0.1%. When testing policies are used, optimal policy delivers a welfare gain equivalent to a 3% permanent increase in consumption. The associated recession is milder in that aggregate output declines by about 15% and cumulative deaths are reduced by .3%. Much of this welfare gain comes from isolating infected individuals. When individuals who are suspected to be infected are isolated without any testing, optimal policy delivers a welfare gain equivalent to a 2% increase in permanent consumption

Chari, Varadarajan V.; Kirpalani, Rishabh; Phelan, Christopher;
2020
Availability: Link Link
Citations: 4 (based on OpenCitations)

5. The hammer and the scalpel : on the economics of indiscriminate versus targeted isolation policies during pandemics

Chari, Varadarajan V.; Kirpalani, Rishabh; Phelan, Christopher;
2020
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability: Link

6. Optimal cooperative taxation in the global economy

Chari, Varadarajan V.; Nicolini, Juan Pablo; Teles, Pedro;
2022
Type: Graue Literatur; Non-commercial literature;
Availability: The PDF logo Link
Citations: 1 (based on OpenCitations)

7. Appendix for: Optimal cooperative taxation in the global economy

Chari, Varadarajan V.; Nicolini, Juan Pablo; Teles, Pedro;
2022
Type: Graue Literatur; Non-commercial literature;
Availability: The PDF logo Link Link

8. The Hammer and the Scalpel : On the Economics of Indiscriminate Versus Targeted Isolation Policies During Pandemics

abstract

We develop a simple dynamic economic model of epidemic transmission designed to be consistent with widely used SIR biological models of the transmission of epidemics, while incorporating economic benefits and costs as well. Our main finding is that targeted testing and isolation policies deliver large welfare gains relative to optimal policies when these tools are not used. Specifically, we find that when testing and isolation are not used, optimal policy delivers a welfare gain equivalent to a 0.6% permanent increase in consumption relative to no intervention. The welfare gain arises because under the optimal policy, the planner engineers a sharp recession that reduces aggregate output by about 40% for about 3 months. This sharp contraction in economic activity reduces the rate of transmission and reduces cumulative deaths by about 0.1%. When testing policies are used, optimal policy delivers a welfare gain equivalent to a 3% permanent increase in consumption. The associated recession is milder in that aggregate output declines by about 15% and cumulative deaths are reduced by .3%. Much of this welfare gain comes from isolating infected individuals. When individuals who are suspected to be infected are isolated without any testing, optimal policy delivers a welfare gain equivalent to a 2% increase in permanent consumption

Chari, Varadarajan V.; Kirpalani, Rishabh; Phelan, Christopher;
2022
Availability: Link

9. The Poverty of Nations : A Quantitative Exploration

abstract

We document regularities in the distribution of relative incomes and patterns of investment in countries and over time. We develop a quantitative version of the neoclassical growth model with a broad measure of capital in which investment decisions are affected by distortions. These distortions follow a stochastic process which is common to all countries. Our model generates a panel of outcomes which we compare to the data. In both the model and the data, there is greater mobility in relative incomes in the middle of the income distribution than at the extremes. The 10 fastest growing countries and the 10 slowest growing countries in the model have growth rates and investment-output ratios similar to those in the data. In both the model and the data, the `miracle' countries have nonmonotonic investment-output ratios over time. The main quantitative discrepancy between the model and the data is that there is more persistence in growth rates of relative incomes in the model than in the data

Chari, Varadarajan V.; Kehoe, Patrick J.; McGrattan, Ellen R.;
2022
Availability: Link

10. Business Cycle Accounting

abstract

We propose a simple method to help researchers develop quantitative models of economic fluctuations. The method rests on the insight that many models are equivalent to a prototype growth model with time-varying wedges which resemble productivity, labor and investment taxes, and government consumption. Wedges corresponding to these variables -- effciency, labor, investment, and government consumption wedges -- are measured and then fed back into the model in order to assess the fraction of various fluctuations they account for. Applying this method to U.S. data for the Great Depression and the 1982 recession reveals that the effciency and labor wedges together account for essentially all of the fluctuations; the investment wedge plays a decidedly tertiary role, and the government consumption wedge, none. Analyses of the entire postwar period and alternative model specifications support these results. Models with frictions manifested primarily as investment wedges are thus not promising for the study of business cycles

Chari, Varadarajan V.; Kehoe, Patrick J.; McGrattan, Ellen R.;
2022
Availability: Link
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The information on the author is retrieved from: Entity Facts (by DNB = German National Library data service), DBPedia and Wikidata

Roberto Perotti


Prof.

Alternative spellings:
R. Perotti

B: 1961
The image of the author or topic
Source: Wikimedia Commons

Information about the license status of integrated media files (e.g. pictures or videos) can usually be called up by clicking on the Wikimedia Commons URL above.

Profession

  • Economist
  • Affiliations

  • Università commerciale Luigi Bocconi
  • National Bureau of Economic Research
  • Centre for Economic Policy Research
  • Innocenzo Gasparini Institute for Economic Research (Mailand)
  • European University Institute
  • Columbia University. Department of Economics
  • External links

  • Gemeinsame Normdatei (GND) im Katalog der Deutschen Nationalbibliothek
  • Wikipedia (Deutsch)
  • Deutsche Digitale Bibliothek
  • NACO Authority File
  • Virtual International Authority File (VIAF)
  • Wikidata
  • International Standard Name Identifier (ISNI)

  • REPEC logo RePEc
    SSRN logo SSRN

    Publishing years

    1
      2024
    2
      2023
    2
      2022
    13
      2021
    6
      2020
    1
      2019
    4
      2018
    2
      2016
    2
      2015
    6
      2014
    3
      2013
    6
      2012
    18
      2011
    12
      2010
    2
      2009
    6
      2008
    4
      2007
    5
      2006
    3
      2005
    6
      2004
    4
      2003
    8
      2002
    5
      2001
    4
      1999
    6
      1998
    8
      1997
    19
      1996
    15
      1995
    8
      1994
    2
      1993
    8
      1992

    Series

    1. Working paper / National Bureau of Economic Research, Inc. (23)
    2. NBER Working Paper (22)
    3. Discussion paper / Centre for Economic Policy Research (16)
    4. Discussion paper series / Department of Economics, Columbia University (15)
    5. Working papers / Innocenzo Gasparini Institute for Economic Research (10)
    6. IMF working paper (4)
    7. IMF working papers (3)
    8. NBER working paper series (3)
    9. Discussion papers / CEPR (2)
    10. Papers and proceedings of the ... annual congress of the European Economic Association (2)
    11. Working papers series / Office of the Chief Economist, Inter-American Development Bank (2)
    12. Working paper series / European Central Bank ; Eurosystem (1)
    13. Working paper series / European Central Bank (1)
    14. Public policy and economic theory (1)
    15. Discussion paper series / Harvard Institute of Economic Research (1)
    16. ENEPRI working paper (1)
    17. Trinity economic papers (1)
    18. Documentos de trabajo Banco Central de Chile (1)
    19. Serie de divulgación económica (1)
    20. CEPS working documents (1)
    21. IMF Working Paper, Vol. , pp. 1-48, 1994 (1)
    22. IMF Working Paper, Vol. , pp. 1-45, 2001 (1)
    23. IMF Working Paper, Vol. , pp. 1-36, 1996 (1)
    24. IMF Working Paper, Vol. , pp. 1-52, 1996 (1)
    25. Varia / Feltrinelli (1)
    26. Policy research working paper : WPS (1)
    27. Bank of Italy Temi di Discussione (Working Paper) (1)
    28. Temi di discussione / Banca d'Italia (1)
    29. IZA Discussion Paper (1)
    30. Discussion paper series / IZA (1)
    31. Serie bianca Feltrinelli (1)
    32. IDB Working Paper (1)
    33. BIS working papers (1)
    34. Policy Research Working Paper (1)
    35. BIS Working Paper (1)
    36. World Bank Policy Research Working Paper Series, Vol. , pp. -, 2007 (1)
    37. International Seminar on Macroeconomics (1)