Cavallo, Antonella; Ribba, Antonio; Dallari, Pietro - 2018
Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and … outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece …, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999-2016, i.e., the EMU period. The main …