Narrow search
Showing 1 - 10 of 9,095
Cover Image
Monetary policy surprise shocks under different fiscal regimes : a panel analysis of the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
fiscal stances in the period 2001Q4-2021Q4 for a panel of the 19 countries of the Euro Area. Applying local projection …
Persistent link: https://www.econbiz.de/10014336399
Cover Image
The effects of monetary policy surprises and fiscal sustainability regimes in the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn's (1998) approach through Schlicht's (2003)...
Persistent link: https://www.econbiz.de/10014313459
Cover Image
The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn’s (1998) approach through Schlicht’s (2003)...
Persistent link: https://www.econbiz.de/10014346445
Cover Image
The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn’s (1998) approach through Schlicht’s (2003)...
Persistent link: https://www.econbiz.de/10014346577
Cover Image
Does austerity pay off? : conference paper
Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes - 2014
market confidence, bringing about a reduction in yield spreads? We employ a new panel data set which contains sovereign yield …
Persistent link: https://www.econbiz.de/10010481328
Cover Image
Fiscal sustainability, fiscal reactions, pitfalls and determinants
Afonso, António; Coelho, José Carlos - 2022
conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and …
Persistent link: https://www.econbiz.de/10013162289
Cover Image
Fiscal sustainability and the role of inflation
Afonso, António; Alves, José; Matvejevs, Oļegs; … - 2023
We examine the relationship between inflation and fiscal sustainability with a two-step approach. In the first step, we estimate to estimate a country-specific time-varying measure of fiscal sustainability using the fiscal reaction function. This function captures the response of the primary...
Persistent link: https://www.econbiz.de/10014444867
Cover Image
Monetary/fiscal policy regimes in post-war Europe
Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023
In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three distinct monetary/fiscal regimes in France and Italy: a...
Persistent link: https://www.econbiz.de/10014482924
Cover Image
Central Bank Reaction to Public Deficit and Sound Public Finance : The Case of the European Monetary Union
Canale, Rosaria Rita - 2009
The paper aims to shed light on the relation between monetary and fiscal policy in EMU, focusing on the interest rates and deficit dynamics. We present a theoretical model in which monetary and fiscal policy independently interact in a closed economic system through their own instrument, namely,...
Persistent link: https://www.econbiz.de/10012719593
Cover Image
Household saving and fiscal policy : evidence for the euro area from a thick modelling perspective
Checherita-Westphal, Cristina; Stecher, Marcel - 2021
panel setting. We find that fiscal expansions are associated with an increase in household saving rate in the euro area …We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999 … and estimation uncertainty and no robust evidence for total private saving offset. Our results for the euro area are …
Persistent link: https://www.econbiz.de/10012745340