Massimo Giuliodori
Biographic Data
| ID | 5739694 |
|---|---|
| NAME | Massimo Giuliodori |
| GIVEN NAMES | Massimo |
| FAMILY NAME | Giuliodori |
| SIGNATURE | GIULIODORI M |
| AFFILIATIONS | University of Amsterdam and Tinbergen Institute |
| ORCID | 0000-0002-2171-3857 |
| VERIFIED | Yes |
| TOTAL WORKS | 5 |
| TOTAL CITATIONS | 13 |
| AUTHOR COUNT | 5 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2005 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 2 |
Populist attitudes, fiscal illusion and fiscal preferences
It is well documented that the public is often poorly informed about the economy. In the domain of fiscal policy, this may make voters susceptible to favour spending, while underestimating its costs ( fiscal illusion ). While politicians may have more information to judge the need for prudent economic policies, voters may be less inclined to support prudent fiscal policy if they do not believe that these politicians act in their best interest—an …
Long‐term Interest Rates and Public Debt Maturity
This paper adds to the literature studying how fiscal variables affect long‐term interest rates. Using a sample of sixteen OECD countries over the period 1980–2007, we show that a one‐year increase in the maturity of the public debt lowers the long‐term interest rate by on average 20–30 basis points. This negative effect is found for both static and panel vector autoregressive specifications. Country sample splits suggest that it is present in pa…
Portfolio separation and the dynamics of bank interest rates
We develop a dynamic model of the interest rates of a monopolistic bank, providing both intermediation and payment services. We obtain testable restrictions on portfolio separation from the dynamic terms of the reduced‐form solutions, and test the model using balance‐sheet data from large banks of 17 OECD countries, over the period 1988–2007. We find strong evidence against the portfolio separation hypothesis. In line with the predictions of the …
The Effects of Government Purchases Shocks
In this article, we review the theoretical consequences of government purchases shocks for both closed and open economies, followed by a discussion of the empirical literature. Next, we provide our own estimates for the EU countries. We find that an increase in government purchases raises output, consumption and investment and reduces the trade balance. However, the stimulating effect is weaker and the trade balance reduction is larger for the mo…
The Role of House Prices in the Monetary Transmission Mechanism Across European Countries
This paper provides a discussion of the ‘housing market’ channels of the monetary transmission mechanism and offers some evidence of institutional differences in the European housing and mortgage markets. Using a number of Vector Autoregressive models, estimated individually for nine European countries over the pre‐EMU period, we find that house prices are significantly affected by interest rate shocks. The relative role of these interest‐rate‐in…
The Effects of Government Purchases Shocks
In this article, we review the theoretical consequences of government purchases shocks for both closed and open economies, followed by a discussion of the empirical literature. Next, we provide our own estimates for the EU countries. We find that an increase in government purchases raises output, consumption and investment and reduces the trade balance. However, the stimulating effect is weaker and the trade balance reduction is larger for the mo…
The Role of House Prices in the Monetary Transmission Mechanism Across European Countries
This paper provides a discussion of the ‘housing market’ channels of the monetary transmission mechanism and offers some evidence of institutional differences in the European housing and mortgage markets. Using a number of Vector Autoregressive models, estimated individually for nine European countries over the pre‐EMU period, we find that house prices are significantly affected by interest rate shocks. The relative role of these interest‐rate‐in…
Populist attitudes, fiscal illusion and fiscal preferences
It is well documented that the public is often poorly informed about the economy. In the domain of fiscal policy, this may make voters susceptible to favour spending, while underestimating its costs ( fiscal illusion ). While politicians may have more information to judge the need for prudent economic policies, voters may be less inclined to support prudent fiscal policy if they do not believe that these politicians act in their best interest—an …
The Role of House Prices in the Monetary Transmission Mechanism Across European Countries
This paper provides a discussion of the ‘housing market’ channels of the monetary transmission mechanism and offers some evidence of institutional differences in the European housing and mortgage markets. Using a number of Vector Autoregressive models, estimated individually for nine European countries over the pre‐EMU period, we find that house prices are significantly affected by interest rate shocks. The relative role of these interest‐rate‐in…
The Effects of Government Purchases Shocks
In this article, we review the theoretical consequences of government purchases shocks for both closed and open economies, followed by a discussion of the empirical literature. Next, we provide our own estimates for the EU countries. We find that an increase in government purchases raises output, consumption and investment and reduces the trade balance. However, the stimulating effect is weaker and the trade balance reduction is larger for the mo…
Portfolio separation and the dynamics of bank interest rates
We develop a dynamic model of the interest rates of a monopolistic bank, providing both intermediation and payment services. We obtain testable restrictions on portfolio separation from the dynamic terms of the reduced‐form solutions, and test the model using balance‐sheet data from large banks of 17 OECD countries, over the period 1988–2007. We find strong evidence against the portfolio separation hypothesis. In line with the predictions of the …
Long‐term Interest Rates and Public Debt Maturity
This paper adds to the literature studying how fiscal variables affect long‐term interest rates. Using a sample of sixteen OECD countries over the period 1980–2007, we show that a one‐year increase in the maturity of the public debt lowers the long‐term interest rate by on average 20–30 basis points. This negative effect is found for both static and panel vector autoregressive specifications. Country sample splits suggest that it is present in pa…
Populist attitudes, fiscal illusion and fiscal preferences
It is well documented that the public is often poorly informed about the economy. In the domain of fiscal policy, this may make voters susceptible to favour spending, while underestimating its costs ( fiscal illusion ). While politicians may have more information to judge the need for prudent economic policies, voters may be less inclined to support prudent fiscal policy if they do not believe that these politicians act in their best interest—an …
Economics (5 works) · Monetary economics (5 works) · Macroeconomics (4 works) · Fiscal Policies and Political Economy (3 works) · Interest rate (3 works) · Monetary Policy and Economic Impact (3 works) · Consumption (sociology (2 works) · Econometrics (2 works) · Fiscal Policy and Economic Growth (2 works) · Global Financial Crisis and Policies (2 works)