Kostarakosa, Ilias; Varthalitis, Petros - 2020
developments in the panel time series literature. In particular, we employ the Common Correlated Effects (CCE) estimator developed … in Pesaran (2006) and estimate the effects of fiscal policy for a panel of EU countries using annual data from 1995 to … CCE estimation generates significantly larger effects of fiscal policy on growth with respect to the other widely used …