Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015
We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the … Euro Area affected GDP growth during the global financial crisis. Our analysis suggests that spillovers of fiscal policy … shocks in the Euro Area are small. Overall, spending multipliers are higher than revenue-based multipliers and are in line …