Fredj, Jawadi; Mallick Sushanta K.; Sousa Ricardo M. - In: Studies in Nonlinear Dynamics & Econometrics 18 (2014) 2, pp. 15-15
This paper assesses the macroeconomic impact of fiscal policy shocks for four key emerging market economies – Brazil, Russia, India and China (BRICs) – using a fully simultaneous system of equations. We also estimate fiscal policy rules and analyze the importance of nonlinearity using a...