Correa, Juan A.; Ferrada, Christian; Gutiérrez, Pablo; … - In: Applied Economics Letters 21 (2014) 11, pp. 776-781
We use a new narrative measure of fiscal shocks to study how private consumption reacts to government spending increases. Our fiscal shocks arise from three announcements of expansionary fiscal rule deviations in a small and open economy where fiscal policy follows a structural-balance fiscal...