warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone’s specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …

the world and which is used by the Deutsche Bundesbank for policy analysis, to analyze how discretionary fiscal policy in … of the world and risk premia shocks, followed by domestic non-fiscal shocks, amongst them the technology shock being the …