NICKEL, CHRISTIANE; TUDYKA, ANDREAS - In: Journal of Money, Credit and Banking 46 (2014) 7, pp. 1313-1344
We investigate the impact of fiscal stimuli at different levels of the government debt‐to‐GDP ratio for a sample of 17 European countries from 1970 to 2010. This is implemented in an interacted panel VAR framework in which all coefficient parameters are allowed to change continuously with...