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Caporale, Guglielmo Maria; Girardi, Alessandro - 2011

This paper analyses the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global VAR, or GVAR) using quarterly data for the EMU period...

Persistent link: https://www.econbiz.de/10009489288

The Covid-19 pandemic, policy responses and stock markets in the G20

Caporale, Guglielmo Maria; Kang, Woo-Young; Spagnolo, Fabio - 2021

This paper analyses the impact of the Covid-19 pandemic on stock market returns and their volatility in the case of the G20 countries. In contrast to the existing empirical literature, which typically focuses only on either Covid-19 deaths or lockdown policies, our analysis is based on a...

Persistent link: https://www.econbiz.de/10012622463

Fiscal adjustments and business cycle synchronization

Agnello, Luca; Caporale, Guglielmo Maria; Sousa, Ricardo M. - 2013

Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...

Persistent link: https://www.econbiz.de/10010212384

Persistence in tax revenues : evidence from some OECD countries

Caporale, Guglielmo Maria; Tapia, Silvia García; … - 2023

This paper examines persistence in tax revenues in a set of 21 OECD countries over the period 1965-2021 using long … for total revenue (Switzerland); three for VAT (Belgium, Italy, and Spain), and six for tax on income (Austria, Belgium …, stronger evidence of mean reversion is found for the differences between the three original tax series and inflation compared …

Persistent link: https://www.econbiz.de/10014382942