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Comportamiento presupuestario y crecimiento económico en los países de la Unión Europea, 1984-2003
Miranda, María Jesús Vara - In: EKONOMIAZ 68 (2008) 02, pp. 370-403
This paper starts off explaining the arguments put forward to defend the need to reduce the State’s budgetary activity and minimize fiscal deficit in accordance with the institutionalized consensus reached under the Maastricht Treaty and the Stability and Growth Pact. Secondly, it sheds light...
Persistent link: https://www.econbiz.de/10010751611
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Public expenditure and revenue in Italy, 1862-1993
Magazzino, Cosimo - Volkswirtschaftliche Fakultät, … - 2010
to 1993, using cointegration techniques and the direction of causality relationship in the long and short runs between … the variables through integrating the Error Correction Model (ECM) into the traditional Granger causality test. A Granger … non-causality test (due to Toda and Yamamoto) is also performed. Unit root tests have been applied in order to investigate …
Persistent link: https://www.econbiz.de/10008765920
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Effects of Fiscal Policy in a Small Open Economy: Evidence of Croatia
Deskar-Škrbić, Milan; Šimović, Hrvoje; Ćorić, Tomislav - Ekonomski Fakultet, Sveučilište u Zagrebu - 2013
In this paper we use structural VAR model to analyze dynamic effects of fiscal shocks on economic activity in Croatia from 2000Q1-2012Q2. Due to the fact that Croatia is a small open economy we assume that shocks of foreign origination can have notable effects on its performance. Therefore,...
Persistent link: https://www.econbiz.de/10011006969
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What are the Effects of Fiscal Policy Shocks?
Mountford, Andrew; Uhlig, Harald - C.E.P.R. Discussion Papers - 2002
We investigate the effects of fiscal policy surprises for US data, using vector autoregressions. We overcome the difficulties that changes in fiscal policy may manifest themselves in variables other than fiscal variables first and that fiscal variables may respond ‘automatically’ to business...
Persistent link: https://www.econbiz.de/10005124017
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What are the Effects of Fiscal Policy Shocks?
Mountford, Andrew; Uhlig, Harald - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2005
We propose and apply a new approach for analyzing the effects of fiscal policy using vector autoregressions. Unlike most of the previous literature this approach does not require that the contemporaneous reaction of some variables to fiscal policy shocks be set to zero or need additional...
Persistent link: https://www.econbiz.de/10005677998
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Assessing the Macroeconomic Effects of Fiscal
Espitia, Ignacio Lozano; Rodríguez, Karen - BANCO DE LA REPÚBLICA - 2009
The focus of this paper is on the short-term macroeconomic effects of fiscalpolicy in Colombia in a structural vector autoregression context. Governmentspending shocks are found to have positive and significant effects on output,private consumption, employment, prices and short-term interest...
Persistent link: https://www.econbiz.de/10005597571
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Assessing the Macroeconomic Effects of Fiscal Policy in Colombia
Lozano, Ignacio; Rodríguez, Karen - Banco de la Republica de Colombia
The focus of this paper is on the short-term macroeconomic effects of fiscal policy in Colombia in a structural vector autoregression context. Government spending shocks are found to have positive and significant effects on output, private consumption, employment, prices and short-term interest...
Persistent link: https://www.econbiz.de/10005650601
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Measuring the effects of fiscal policy
Bouakez, Hafedh; Chihi, Foued; Normandin, Michel - In: Journal of Economic Dynamics and Control 47 (2014) C, pp. 123-151
Measuring the effects of discretionary fiscal policy is both difficult and controversial, as some explicit or implicit identifying assumptions need to be made to isolate exogenous and unanticipated changes in taxes and government spending. Studies based on structural vector autoregressions...
Persistent link: https://www.econbiz.de/10011051893
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What are the Effects of Fiscal Policy Shocks?
Mountford, A.W.; Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 2002
We investigate the effects of fiscal policy surprises for US data, using vector autoregressions.We overcome the difficulties that changes in fiscal policy may manifest themselves in variables other than fiscal variables first and that fiscal variables may respond 'automatically' to business...
Persistent link: https://www.econbiz.de/10011092709
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The effects of fiscal policy in a small open transition economy: The case of Croatia
Deskar-Škrbić, Milan; Šimović, Hrvoje; Ćorić, Tomislav - In: Acta Oeconomica 64 (2014) November, pp. 133-152
In this paper, we use the structural VAR model to analyse the dynamic effects of (discretionary) fiscal shocks on the economic activity of the private sector in Croatia between 2000 and 2012. Due to the fact that Croatia is a small open transition economy, we assume that shocks of foreign origin...
Persistent link: https://www.econbiz.de/10011094487