Cuaresma, Jesús Crespo; Eller, Markus; Mehrotra, Aaron - In: Focus on European Economic Integration (2011) 2, pp. 44-68
This paper studies the transmission of a foreign fiscal policy shock (assumed to be generated in Germany) to key macroeconomic variables in five Central and Eastern European economies (CEE-5). We use quarterly data from 1995 to 2009 and estimate an open economy structural vector autoregressive...
