Measuring fiscal policy spillovers in the Euro area
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- dc.contributor.author Gambetti, Lucaca
- dc.contributor.author Gallio, Francescoca
- dc.date.accessioned 2016-12-07T12:18:05Z
- dc.date.available 2016-12-07T12:18:05Z
- dc.date.issued 2016-04
- dc.description.abstract 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.ca
- dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
- dc.format.mimetype application/pdfca
- dc.identifier.uri http://hdl.handle.net/10230/27713
- dc.language.iso engca
- dc.relation.ispartofseries ADEMU Working Paper Series;44
- dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
- dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.ca
- dc.rights.accessRights info:eu-repo/semantics/openAccessca
- dc.rights.uri http://creativecommons.org/licenses/by/4.0/ca
- dc.subject.keyword Fiscal spilloversen
- dc.subject.keyword Government spending shocken
- dc.subject.keyword Time-tarying toefficients VARen
- dc.subject.keyword Euro Areaen
- dc.title Measuring fiscal policy spillovers in the Euro areaca
- dc.type info:eu-repo/semantics/workingPaperca