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composed of essential expenditures. …
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level under neutral taxation. On average, the tax subsidy translates into an excess consumption of housing services … portfolios. The bulk of the subsidies stems from under-taxation of the return to home equity, while the average contribution of …
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run, as well as a decline in sovereign and systemic stress. Debt over GDP negatively influences growth for the periphery … to non-financial corporations positively affect the core euro area. An increase in global GDP also supports growth in the …
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We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999-2019. To this extent, we propose a thick modelling approach, which allows a vast number of model specifications in a dynamic panel setting. We find that fiscal expansions are...
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