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dc.contributor.authorCaporale, Guglielmo Mariaen_US
dc.contributor.authorGirardi, Alessandroen_US
dc.date.accessioned2012-08-24en_US
dc.date.accessioned2012-08-24T14:09:07Z-
dc.date.available2012-08-24T14:09:07Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/61323-
dc.description.abstractThis paper analyses the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global VAR, or GVAR) using quarterly data for the EMU period suggests that euro-denominated government yields are strongly linked with each other. However, financial markets seem to be able to discriminate among different issuers. Consequently, fiscal imbalances in Italy and in other peripheral countries should be closely monitored by their EMU partners and the European institutions.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion Papers, German Institute for Economic Research, DIW Berlin 1164en_US
dc.subject.jelC32en_US
dc.subject.jelE62en_US
dc.subject.jelF42en_US
dc.subject.jelH63en_US
dc.subject.ddc330en_US
dc.subject.keywordGlobal VAR methodologyen_US
dc.subject.keywordfiscal spilloversen_US
dc.subject.keywordeuro areaen_US
dc.subject.keywordpublic debten_US
dc.titleFiscal spillovers in the euro areaen_US
dc.typeWorking Paperen_US
dc.identifier.ppn72222138Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Publikationen von Forscherinnen und Forschern des DIW
DIW-Diskussionspapiere

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