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Fiscal Policy Shocks in the Euro Area and the US : An Empirical Assessment

Burriel, Pablo - 2009

We analyse the impact of fiscal policy shocks in the euro area as a whole, using a newly available quarterly dataset of fiscal variables for the period 1981-2007. To allow for comparability with previous results on euro area countries and the US, we use a standard structural VAR framework, and...

Persistent link: https://www.econbiz.de/10013153261

The Economic Effects of Exogenous Fiscal Shocks in Spain : A SVAR Approach

de Cos, Pablo Hernández; Castro, Francisco de - 2021

This paper estimates the effects of exogenous fiscal policy shocks in Spain in a VAR framework. Government expenditure expansionary shocks are found to have positive effects on output in the short-term at the cost of higher inflation and public deficits and lower output in the medium and long...

Persistent link: https://www.econbiz.de/10013317569

Combining Time-Variation and Mixed-Frequencies : An Analysis of Government Spending Multipliers in Italy

Cimadomo, Jacopo - 2015

, we use this model to study the macroeconomic effects of government spending shocks in Italy over the 1988Q4-2013Q3 period …. Italy - as well as most other euro area economies - is characterised by short quarterly time series for fiscal variables … output in Italy. The fiscal multiplier, which is maximized at the one year horizon, follows a U-shape over the sample …

Persistent link: https://www.econbiz.de/10013013646

Fiscal convergence before entering the EMU

Onorante, Luca - 2006

The monetary integration of the acceding countries will proceed in several distinct steps, starting with membership in the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry into the euro area. This paper addresses the question...

Persistent link: https://www.econbiz.de/10011604710

Fiscal policy in real time

Cimadomo, Jacopo - 2008

This paper argues that any assessment on the intentional stance of fiscal policy should be based upon all the information available to policymakers at the time of fiscal planning. In particular, real-time data on the discretionary fiscal policy "instrument", the structural primary balance,...

Persistent link: https://www.econbiz.de/10011604965

Transmission of Government Spending Shocks in the Euro Area : Time Variation and Driving Forces

Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2021

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