Afonso, António; Sousa, Ricardo M. - 2009
System approach in a Bayesian framework. Building on the works of Blanchard and Perotti (2002), Leeper and Zha (2003), and … explicitly consider the government debt dynamics when assessing the macroeconomic effects of fiscal policy and its impact on … minor role in the asset markets of the U.S. and Germany; (ii) they substantially increase the variability of housing and …