In a standard linear structural VAR framework we analyse the size and sign of fiscal multipliers in the euro area, using a newly available quarterly dataset of fiscal variables for the period 1981-2007. From a policy perspective, the analysis of fiscal multipliers in “average times” provides...

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...

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...

The issue of the size of fiscal spillovers in the euro area has gained prominence recently, given proposals to coordinate fiscal policies that aim at achieving an appropriate “aggregate fiscal stance”, consistent with economic and monetary policy conditions. Given the heterogeneous fiscal...

Loans to Member States under the SURE programme were part of the unprecedented European Union (EU) response to the COVID-19 crisis in 2020-2021. Resources were used to finance countries’ public spending on temporary unemployment schemes. The EU raised funds on the capital markets by issuing...

Do public sector wages exert pressures on private sector wages, or has the private sector a leadership role in wage setting? This paper tries to isolate the pure signalling effect that one sector might exert on the other by controlling for other determinants of wages (prices, productivity,...