Measuring fiscal policy spillovers in the Euro area
Gambetti, Luca
Gallio, Francesco

Fecha: 2016
Resumen: We study fiscal policy coordination and fiscal policy spillovers in Germany, France, Spain and Italy using a Time-Varying Coefficients VAR model for the period 1995-2014. While the four country-specific cycles share large commonalities, fiscal policy coordination across countries, measured as the time-varying correlation between government spending growth, is very low. Country-specific government spending shocks generate significant effects on the remaining countries. International spillovers are especially strong in the medium run and during the financial crisis. Also, we find heterogeneous and asymmetric response to spending across countries.
Resumen: The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
Ayudas: European Commission 649396
Derechos: Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original. Creative Commons
Lengua: Anglès
Colección: Barcelona Graduate School of Economics. ADEMU working paper series
Colección: ADEMU Working Paper Series ; 44
Documento: Working paper
Materia: Fiscal spillovers ; Government spending shock ; Time-tarying toefficients VAR ; Euro Area

Adreça alternativa: https://hdl.handle.net/10230/27713


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 Registro creado el 2018-10-23, última modificación el 2022-07-09



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