Measuring fiscal spillovers in EMU and beyond: A Global VAR approach

We identifiy and measure fiscal spillovers in the EU countries using a global vector autoregression (GVAR) model. We find moderate spillover effects of fiscal policy shocks originating in Germany and France and significant variation regarding magnitude of the spillovers among destination countries and country clusters. Furthermore, we find some evidence that spillovers generated by German or French fiscal spillovers are stronger for EMU than non-EMU countries in Europe.

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Year of publication:	2017
Authors:	Belke, Ansgar ; Osowski, Thomas
Publisher:	Kiel, Hamburg : ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft

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Series:	Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Open Economy Macroeconomics ; F03-V1
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Conference Paper
Language:	English
Other identifiers:	hdl:10419/168102 [Handle] RePEc:zbw:vfsc17:168102 [RePEc]
Classification:	C50 - Econometric Modeling. General ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; F15 - Economic Integration ; F42 - International Policy Coordination and Transmission ; H60 - National Budget, Deficit, and Debt. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10011712615