Sousa, Ricardo M.; Afonso, António - Núcleo de Investigação em Políticas Económicas … - 2008
This paper investigates the link between fiscal policy shocks and movements in asset markets using a Fully Simultaneous … explicitly consider the government debt dynamics when assessing the macroeconomic effects of fiscal policy and its impact on … asset markets. In addition, the results from a VAR counter-factual exercise suggest that: (i) fiscal policy shocks play a …