Furceri, Davide (contributor); … - 2008
University of Palermo. European Central Bank, Directorate General Economics,
Kaiserstraße 29, D-60311 Frankfurt am Main, Germany … spending. Its use avoids business-
cycle effects resulting from the employment of annual data. All results of this paper are … volatile business cycles due to less
developed financial markets, for example, and at the same time they may resort more often …