Giuliodori, Massimo (contributor); Beetsma, Roel (contributor) - 2004
countries to a fiscal shock in a
large country, a more detailed and country-specific modelling of the import equations
would be … rise in its GDP. Finally, for
France, a positive spending shock raises its GDP, while a shock in net taxes has no effect at … rate and the short-run interest rate may adjust in response to the
shock. In order to better gauge the fiscal spill …