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This paper investigates how macroeconomic uncertainty shocks spillover over four Eurozone countries. It also evaluates their impact on real economic activity. The paper proposes a simple two-country model with a core and a periphery economy, where uncertainty shocks spread from one country to...
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size of spillover effects of Germany's final demand on GDP, employment, and the trade balance in Southern European … countries. We find that spillover effects are rather small. Germany alone will hardly make a significant contribution to the … schätzen. Die Spillover-Effekte sind eher klein. Im Alleingang wird Deutschland keinen wesentlichen Beitrag zum externen …
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