Briodeau, Clémence; Checherita-Westphal, Cristina - 2023
This paper estimates a fiscal reaction function (FRF) framework for euro area countries to test for the impact of … negative - at somewhat above 4% for the sample of mature euro area economies (EA-12, first twelve EA members) and around 6% for … the whole sample of euro area countries in 2022 (EA-19). Using an alternative measure of "inflation surprise" (available …