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dc.contributor.authorCaporale, Guglielmo Mariaen
dc.contributor.authorGirardi, Alessandroen
dc.date.accessioned2012-08-24-
dc.date.accessioned2012-08-24T14:09:07Z-
dc.date.available2012-08-24T14:09:07Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x1164en
dc.subject.jelC32en
dc.subject.jelE62en
dc.subject.jelF42en
dc.subject.jelH63en
dc.subject.ddc330en
dc.subject.keywordGlobal VAR methodologyen
dc.subject.keywordfiscal spilloversen
dc.subject.keywordeuro areaen
dc.subject.keywordpublic debten
dc.titleFiscal spillovers in the euro area-
dc.typeWorking Paperen
dc.identifier.ppn72222138Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp1164en

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