Amendola, Adalgiso; Di Serio, Mario; Fragetta, Matteo; … - 2019
We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with … stance, captured by a shadow monetary policy rate. In the short run (one year), whether the fiscal shock occurs when the … economy is at the effective lower bound (ELB) or in normal times does not seem to matter for the size of the multiplier …