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Fiscal policy in the EU in the crisis : a model-based approach
Székely, István P.; Röger, Werner; Veld, Jan in 't - 2011
Policy ; Monetary Policy ; Fiscal Multiplier ; Collateral Constraint ; DSGE modelling …
Persistent link: https://www.econbiz.de/10008906582
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Fiscal spending multiplier calculations based on input-output tables – with an application to EU members
Pusch, Toralf; Rannenberg, Ansgar - 2011
Fiscal spending multiplier calculations have been revived in the aftermath of the global financial crisis. Much of the … current literature is based on VAR estimation methods and DSGE models. The aim of this paper is not a further deepening of … multiplier for EU members. Multipliers for specific spending categories are comparably high, ranging between 1.4 and 1.8 for many …
Persistent link: https://www.econbiz.de/10009126063
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Production structure, tradability and fiscal spending multipliers
Crespo Cuaresma, Jesús; Glocker, Christian - 2023
between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …
Persistent link: https://www.econbiz.de/10014321510
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Revenue- versus spending-based consolidation plans : the role of follow-up
Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10011904377
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Debt Targets and Fiscal Consolidation in a two-country HANK model for the Euro Area
Chen, Xiaoshan; Lazarakis, Spyridon; Varthalitis, Petros - 2023
This paper builds a two-country Heterogenous Agents New Keynesian (HANK) model for the Euro Area (EA). The two countries differ in the degree of public indebtedness, i.e., the Periphery has a relatively higher public debt-output ratio vis-à-vis the Core. The model captures some key features of...
Persistent link: https://www.econbiz.de/10014255769
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Fiscal Policy in the EU in the Crisis : A Model-Based Approach
Székely, István P. - 2019
This paper uses a multi region DSGE model with collateral constrained households and residential investment to examine the effectiveness of fiscal policy stimulus measures in a credit crisis. The paper explores alternative scenarios which differ by the type of budgetary measure, its length, the...
Persistent link: https://www.econbiz.de/10012905916
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Estimating fiscal multipliers in the Eurozone : a nonlinear panel data approach
Perdichizzi, Salvatore - 2017
During the sovereign debt crisis, all euro countries have deployed "austerity packages", believing that they could regain the path of growth implementing structural reforms and cutting government spending. Such policies should have led to an initial decline in GDP followed by recovery and a...
Persistent link: https://www.econbiz.de/10011776481
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Fiscal Stimulus in Times of High Debt : Reconsidering Multipliers and Twin Deficits
Nickel, Christiane - 2013
We investigate the impact of fiscal stimuli at different levels of the government debt-to-GDP-ratio for a sample of 17 European countries from 1970 to 2010. This is implemented in an interacted panel VAR framework in which all coefficient parameters are allowed to change continuously with the...
Persistent link: https://www.econbiz.de/10013087096
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The euro area government spending multiplier in demand- and supply-driven recessions
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2022
inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …
Persistent link: https://www.econbiz.de/10013174156
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The euro area government spending multiplier in demand- and supply-driven recessions?
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel; … - 2023
inflation from its trend, implying that the more demand-driven a recession, the higher the multiplier. Median multipliers range …
Persistent link: https://www.econbiz.de/10014364021