where (i) the shock of interest is observed, (ii) the impact variable of interest is observed at a lower frequency (as a … frequency of the shock, and (iv) the full set of relevant endogenous variables entering the DGP is unknown or unobserved …

economic growth to a fiscal shock are mostly positive in both financial stress regimes; (iii) financial stress has a negative … shock is mainly associated with different behaviour across regimes; (v) the size of the fiscal multipliers is higher than …

weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude … countries face a much larger effect on changes in budget balances following an extreme weather event than do advanced economies …. Based on these findings, we discuss implications for fiscal policy and publicly-provided disaster insurance. Our policy …

This paper assesses the impact of weather shocks on inflation components in the four largest euro area economies. We … combine high-frequency weather data with monthly data on inflation and output growth within a set of Bayesian Vector Autore …-gressions which explicitly considers the seasonal dependence of the shock. Results suggest the presence of significant country …