Beetsma, Roel; Giuliodori, Massimo - In: Economic Journal 121 (2011) 550, pp. 4-4
economies, followed by a discussion of the empirical literature. Next, we provide our own estimates for the EU countries. We …. However, the stimulating effect is weaker and the trade balance reduction is larger for the more open EU economies, consistent … with larger leakage effects. Further, we show that government purchases shocks in large EU economies have non …