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Cross-Border Effects of Fiscal Consolidations: Estimates Based on Narrative Records

Hebous, Shafik; Zimmermann, Tom - CESifo - 2013

We estimate cross-border spillover effects of fiscal consolidation episodes on output, bilateral trade flows, interest rate, and the exchange rate, employing the new IMF action-based fiscal consolidation data. Results indicate a negative effect of foreign fiscal consolidation policies on...

Persistent link: https://www.econbiz.de/10010674455

Estimating the Effects of Coordinated Fiscal Actions in the Euro Area

Hebous, Shafik; Zimmermann, Tom - CESifo - 2012

We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted...

Persistent link: https://www.econbiz.de/10010568610

Political Persistence, Connections and Economic Growth

Bellettini, Giorgio; Ceroni, Carlotta Berti; Prarolo, … - CESifo - 2009

between political stability and economic growth which is stronger and empirically more robust in countries with high … bureaucratic costs. Motivated by these results, which contrast with previous contributions, we develop a model of growth with … between the probability that the incumbent politician remains in office and average economic growth in the presence of high …

Persistent link: https://www.econbiz.de/10005765682

Political Persistence, Connections and Economic Growth

Bellettini, Giorgio; Ceroni, Carlotta Berti; Prarolo, … - Fondazione ENI Enrico Mattei (FEEM) - 2009

Persistent link: https://www.econbiz.de/10008502103