Cavallo, Antonella; Ribba, Antonio; Dallari, Pietro - 2018
, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999-2016, i.e., the EMU period. The main … outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece … expansions in the small Euro-area open economies affected by high public and private debt. It is shown that the macroeconomic …