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Can we rely upon fiscal policy estimates in countries with unreported production of 15 per Cent (or more) of GDP?
Basile, Raffaella; Chiarini, Bruno; Marzano, Elisabetta - 2011
: quarterly fiscal variables on accrual basis and a time series estimate of tax evasion for the period 1981:1-2006:4. Following … unless the dynamics of the hidden and regular components of the GDP are disentangled. Changes in public spending and the tax … rate generate a reallocation from underground to the regular economy which contributes to obscure the spending and tax …
Persistent link: https://www.econbiz.de/10010277384
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The role of fiscal policy in a monetary union : are National automatic stabilizers effective?
Colciago, Andrea; Muscatelli, Vito Antonio; Ropele, Tiziano - 2006
We assess the role of national fiscal policies, as automatic stabilizers, within a monetary union. We use a two-country New Keynesian DGE model which incorporates non-Ricardian consumers (as in Gal? et al. 2004) and a home bias in the composition of national consumption bundles. We find that...
Persistent link: https://www.econbiz.de/10010261426