Afonso, António; Loureiro, Daniel - 2024
2002Q1 to 2021Q4, with 16 Euro Area (EA) countries. We found that a budget balance expansionary shock in Germany would … significant spillovers on investment or income were observed following this shock. Greater and more significant spillovers were … found after an EA global shock. There are also positive effects on private investment. However, a global shock still does …