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In this paper, we propose a time-varying parameter VAR model with stochastic volatility which allows for estimation on …
Persistent link: https://www.econbiz.de/10013013646
policy "instrument", the structural primary balance, should be used in the estimation of fiscal policy reaction functions. In …
Persistent link: https://www.econbiz.de/10011604965
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10013316199
This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...
Persistent link: https://www.econbiz.de/10011605265