dc.contributor.author
Gambetti, Luca
dc.contributor.author
Gallio, Francesco
dc.identifier
https://ddd.uab.cat/record/196735
dc.identifier
urn:oai:ddd.uab.cat:196735
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.
dc.description.abstract
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
application/pdf
dc.relation
European Commission 649396
dc.relation
Barcelona Graduate School of Economics. ADEMU working paper series ;
dc.rights
Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original.
dc.rights
https://creativecommons.org/licenses/by/4.0/
dc.subject
Fiscal spillovers
dc.subject
Government spending shock
dc.subject
Time-tarying toefficients VAR
dc.title
Measuring fiscal policy spillovers in the Euro area
