The paper provides and empirical characterization of fiscal policy in the euro area and in a group of twenty-two OECD … economies over the period from 1970 until 2007. Using the cyclically-adjusted fiscal balance we document that policy in the euro … policies. However, the component of the budget due to automatic stabilizers reacts stronger in the euro-area countries than in …

To investigate how fuel economy is valued in the Indian car market, we compute the cost to Indian consumers of … hedonic price functions for four market segments (petrol hatchbacks, diesel hatchbacks, petrol sedans, and diesel sedans) to … associated present value of fuel savings falls within the 95 percent confidence interval for some specifications, in all market …

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the … Euro Area affected GDP growth during the global financial crisis. Our analysis suggests that spillovers of fiscal policy … shocks in the Euro Area are small. Overall, spending multipliers are higher than revenue-based multipliers and are in line …

provision of lender of last resort facilities in the euro zone and the framework for supervising financial institutions. The … Growth Pact have been justified by the threat high debts might pose to the stability of the euro zone's financial markets. I …

, which is closer to European than the US is in its labor market and fiscal institutions. Europe's (and to some extent Canada … an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market …