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https://hdl.handle.net/10419/62326
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Hebous, Shafik | en |
dc.contributor.author | Zimmermann, Tom | en |
dc.date.accessioned | 2012-08-30 | - |
dc.date.accessioned | 2012-09-13T09:55:59Z | - |
dc.date.available | 2012-09-13T09:55:59Z | - |
dc.date.issued | 2012 | - |
dc.identifier.uri | http://hdl.handle.net/10419/62326 | - |
dc.description.abstract | We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted average of the fiscal shocks across all member countries. According to our estimates, the impact of an area-wide fiscal shock on output of a member country tends to be positive and larger than that of a domestic shock. Since the cost of participating in the area-wide shock is lower than the cost of a similar size domestic shock, our finding indicates the importance of coordinated fiscal actions in the euro area. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x3912 | en |
dc.subject.jel | E62 | en |
dc.subject.jel | F41 | en |
dc.subject.jel | F42 | en |
dc.subject.jel | F15 | en |
dc.subject.jel | H50 | en |
dc.subject.jel | H60 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | fiscal policy coordination | en |
dc.subject.keyword | cross-border spillovers | en |
dc.subject.keyword | open economy macroeconomics | en |
dc.subject.keyword | European integration | en |
dc.subject.keyword | Global VAR | en |
dc.title | Estimating the effects of coordinated fiscal actions in the euro area | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 722920911 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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