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Author: Francesco Giavazzi
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This paper provides new evidence on the effects of fiscal policy by studying, using household-level data, how households respond to shifts in government spending. Our identification strategy allows us to control for time...Read more...
Francesco Giavazzi and Michael McMahon
2 February 2012
In 1997 Chancellor Kohl proposed a major pension reform: he pushed the law through Parliament explaining that the German PAYG system had become unsustainable. One limitation of the new law - one that is crucial for our i...Read more...
April 2008