Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/153862 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
ECB Working Paper No. 1429
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
How much did fiscal policy contribute to euro area real GDP growth during the Great Recession? We estimate that discretionary fiscal measures have increased annualized quarterly real GDP growth during the crisis by up to 1.6 percentage points. We obtain our result by using an extended version of the European Central Bank’s New Area-Wide Model with a rich specification of the fiscal sector. A detailed modeling of the fiscal sector and the incorporation of as many as eight fiscal time series appear pivotal for our result.
Schlagwörter: 
Bayesian inference
DSGE modelling
euro area
JEL: 
C11
E32
E62
Dokumentart: 
Working Paper

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