Pereira, Manuel Coutinho; Lopes, Artur Silva - Centro de Matemática Aplicada à Previsão e Decisão … - 2010
To investigate the time heterogeneity effects of fiscal policy in the U.S., we use a non-recursive, Blanchard and Perotti-like structural VAR with time-varying parameters, estimated through Bayesian simulation over the 1965:2-2009:2 period. Our evidence suggests that fiscal policy has lost some...
