Henry, Jerome; Cos, Pablo Hernandez de; Momigliano, Sandro - Banca d'Italia - 2004
This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers� social security …