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Fiscal expenditure spillovers in the euro area : an empirical and model-based assessment
Alloza, Mario; Ferdinandusse, Marien; Jacquinot, Pascal; … - 2020
The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...
Persistent link: https://www.econbiz.de/10012206331
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Fiscal Expenditure Spillovers in the Euro Area : An Empirical and Model-Based Assessment
Alloza, Mario - 2020
The paper describes the main transmission channels of the spillovers of national fiscal policies to other countries within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union (EMU), fiscal spillovers are relevant for the accurate...
Persistent link: https://www.econbiz.de/10012833419
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Did fiscal consolidation cause the double dip recession in the euro area?
Heimberger, Philipp - 2015
closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …
Persistent link: https://www.econbiz.de/10011778844
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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
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Fiscal space on the Eurozone peripery : the case of Spain
Uxó González, Jorge; Álvarez Peralta, Nacho; … - 2017
based on an application of an "imperfect" balanced budget multiplier, proposing a combination of discretionary increases in …
Persistent link: https://www.econbiz.de/10011595916
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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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The Spending Multiplier in a Time of Massive Public Debt : The Euro Area Case
Vranceanu, Radu - 2012
When governments loose investors' confidence, additional public spending and the resulting increase in public debt would push-up risk-adjusted interest rates in a more aggressive way. A regression model on a panel of 26 EU countries over the period 1996-2011 shows that a 10 percentage point...
Persistent link: https://www.econbiz.de/10013103445
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The Euro-Area Government Spending Multiplier at the Effective Lower Bound
Amendola, Adalgiso - 2019
economy is at the effective lower bound (ELB) or in normal times does not seem to matter for the size of the multiplier … average multiplier is about 1 in normal times and between 1.6 and 2.8 at the ELB, depending on the specification. The … difference between the two multipliers is distributed largely away from zero. More generally, the multiplier is inversely …
Persistent link: https://www.econbiz.de/10012866218
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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/10013292507